As a Hyper Kidz franchisee, am I acknowledging that I received, read, and understood the franchise agreement, attachments, related agreements, and the disclosure document?
Hyper_Kidz Franchise · 2024 FDDAnswer from 2024 FDD Document
- 21.2 YOU ACKNOWLEDGE HAVING RECEIVED, READ AND UNDERSTOOD THIS AGREEMENT, THE ATTACHMENTS ATTACHED HERETO AND AGREEMENTS RELATING HERETO, IF ANY, AND THE DISCLOSURE DOCUMENT DELIVERED SIMULTANEOUSLY HEREWITH; AND WE HAVE ACCORDED YOU AMPLE TIME AND OPPORTUNITY TO CONSULT WITH ADVISORS OF YOUR OWN CHOOSING ABOUT THE POTENTIAL RISKS OF ENTERING INTO THIS AGREEMENT.
- 21.3 YOU ACKNOWLEDGE THAT YOU RECEIVED THE DISCLOSURE DOCUMENT REQUIRED BY THE TRADE REGULATION RULE OF THE FEDERAL TRADE COMMISSION AT LEAST FOURTEEN (14) CALENDAR DAYS PRIOR TO THE DATE ON WHICH THIS AGREEMENT WAS EXECUTED OR ANY PAYMENT WAS MADE TO US OR OUR AFFILIATES.
- 21.4 YOU EXPRESSLY ACKNOWLEDGE THAT YOU HAVE NOT RELIED UPON ANY EARNINGS CLAIMS, SUCH AS ORAL OR WRITTEN STATEMENTS OR SUGGESTIONS, MADE BY ANY REPRESENTATIVE OF OR ANY OTHER PERSON PURPORTING TO BE ACTING ON OUR BEHALF REGARDING THE POTENTIAL FUTURE SALES, REVENUES OR PROFITS WHICH MAY BE DERIVED FROM OPERATION OF HYPER KIDZ BUSINESSES OR DEVELOPMENT OF THE DEVELOPMENT AREA.
Source: Item 23 — RECEIPTS (FDD pages 52–205)
What This Means (2024 FDD)
According to Hyper Kidz's 2024 Franchise Disclosure Document, as a franchisee, you acknowledge that you have received, read, and understood the franchise agreement, its attachments, any related agreements, and the disclosure document. This acknowledgement confirms that you have been given ample time and opportunity to consult with advisors of your choosing regarding the potential risks of entering into the agreement.
This acknowledgement is a standard clause in franchise agreements. It serves to protect Hyper Kidz by confirming that you entered the agreement with full knowledge and understanding of its terms and associated risks. It also confirms that you had the chance to seek independent advice before committing to the franchise.
Furthermore, the FDD stipulates that you acknowledge receiving the Franchise Disclosure Document required by the Federal Trade Commission's Trade Regulation Rule at least fourteen calendar days before executing the agreement or making any payments to Hyper Kidz or its affiliates. This 14-day period is mandated by federal law to allow prospective franchisees adequate time to review the document and seek professional advice.
Finally, you expressly acknowledge that you have not relied upon any earnings claims, such as oral or written statements or suggestions, made by any representative of Hyper Kidz or any other person purporting to be acting on their behalf regarding the potential future sales, revenues, or profits which may be derived from the operation of Hyper Kidz businesses or development of the development area. This statement emphasizes that your decision to invest in a Hyper Kidz franchise should be based on your own independent investigation and assessment of the business opportunity, rather than on any guarantees or projections of financial success provided by the franchisor.