What is the Itan franchisee intending to be by agreeing to the terms and conditions set forth in the addendum?
Itan Franchise · 2025 FDDAnswer from 2025 FDD Document
- F. In consideration of the foregoing recitals and other good and valuable consideration, the receipt and sufficiency of which is hereby mutually acknowledged, and intending to be legally bound, the Parties hereby agree to the terms and conditions set forth below.
Source: Item 23 — RECEIPT (FDD pages 44–190)
What This Means (2025 FDD)
According to Itan's 2025 Franchise Disclosure Document, the franchisee intends to be legally bound by the terms and conditions outlined in the addendum. This intention is made in consideration of the recitals within the document and other valuable considerations, which are mutually acknowledged as sufficient.
Specifically, the franchisee already owns and operates a business with services similar to those of an Itan salon. The franchisee desires to acquire an Itan franchise to convert their existing business into an Itan Salon. Itan is willing to grant the franchisee the right and obligation to make this conversion. Upon conversion, the Itan Salon will operate according to Itan's system, offering tanning, beauty, and wellness services, and selling related retail items under Itan's marks.
The addendum modifies the Franchise Agreement to facilitate the conversion of the franchisee's current business into an Itan Salon. By agreeing to the terms and conditions in the addendum, the franchisee acknowledges their obligations and rights in this conversion process, and their intent to be legally bound to these modifications of the original franchise agreement.