factual

What is the issuance date of the Fly To Fit disclosure document?

Fly_To_Fit Franchise · 2024 FDD

Answer from 2024 FDD Document

Issuance Date: 5/01/2024

I received a disclosure document dated May 1st , 2024, that included the following Exhibits:

  • A. State Administrators and Agents for Service of Process
  • B. Franchise Agreement (with Guaranty and Non-Compete Agreement)
  • C. Multi-Unit Development Agreement
  • D. Rider to Lease Agreement
  • E. Form of General Release
  • F. Financial Statements
  • G. Brand Standards Manual Table of Contents
  • H. Current and Former Franchisees
  • I. State Addenda to Disclosure Document
  • J. State Addenda to Agreements

Source: Item 23 — RECEIPTS (FDD pages 44–134)

What This Means (2024 FDD)

According to Fly To Fit's 2024 Franchise Disclosure Document, the issuance date is May 1, 2024. This date is significant because it indicates when the disclosure document was prepared and deemed current by Fly To Fit. Prospective franchisees should ensure they are reviewing the most up-to-date FDD before making any decisions. The FDD includes exhibits such as state administrators and agents for service of process, the franchise agreement, multi-unit development agreement, rider to lease agreement, form of general release, financial statements, brand standards manual table of contents, list of current and former franchisees, and state addenda to the disclosure document and agreements.

Fly To Fit is required to provide this disclosure document to potential franchisees at least 14 calendar days before they sign a binding agreement or make any payments to Fly To Fit or its affiliates. This 14-day period allows franchisees to thoroughly review the document and seek professional advice. In New York, the disclosure document must be provided earlier, either at the first personal meeting or 10 business days before signing any agreement or making any payment related to the franchise.

The FDD also mentions that certain states require the document to be registered or filed. These states include California, Hawaii, Illinois, Indiana, Maryland, Michigan, Minnesota, New York, North Dakota, Rhode Island, South Dakota, Virginia, Washington, and Wisconsin. The document is effective and can be used in these states as of the effective date stated in the document. If Fly To Fit fails to deliver the disclosure document on time or if it contains false or misleading information, it could be a violation of federal and state laws, which should be reported to the Federal Trade Commission and any applicable state agency.

Disclaimer: This information is extracted from the 2024 Franchise Disclosure Document and is provided for research purposes only. It does not constitute legal or financial advice. Consult with a franchise attorney before making any investment decisions.