What is the acknowledgement regarding the Jersey Mikes Franchise Disclosure Document (FDD) issuance date?
Jersey_Mikes Franchise · 2025 FDDAnswer from 2025 FDD Document
I acknowledge that I have received the Franchise Disclosure Document ("FDD") for ASA with an Issuance Date of March 31, 2025.
I acknowledge that I signed the Receipt page for the FDD and that I ha ve returned a copy to ASA and retained a copy for my records.
I acknowledge that I received a copy of ASA's Franchise Disclosure Document at least 14 calendar days (10 business days in Michigan) before signing the Franchise Agreement, or at least 14 calendar days before making any payment for the franchise, (or, if earlier, at the first personal meeting in Iowa) whichever first occurred, that I personally reviewed all of the information in the FDD, and that I understand the FDD and exhibits.
I acknowledge that I have had an opportunity to read the FDD and that no representations have been made to me wh ich are inconsistent with information presented in the FDD, and I have not relied upon any representations inconsistent with or not contained in the FDD.
I acknowledge that I have not received any representation, warranty, guarantee or information, express or implied, from ASA or any of its officers, employees or agents (including any franchise broker) concerning actual, average, projected, potential or f orecasted sales, revenues, income, profits or earnings of the franchised business (including any statement, promise or assurance concerning the likelihood of success).
I acknowledge that I have had the opportunity to conduct an independent investigation of the franchised business offered and to seek independent counsel concerning the licensed business.
I acknowledge that the franchised business, as any business venture, involves risks, and the success of the franchised business will depend largely upon the ability of the business owner.
Source: Item 22 — CONTRACTS (FDD page 77)
What This Means (2025 FDD)
According to the 2025 Jersey Mikes Franchise Disclosure Document, franchisees must acknowledge they received the FDD with an issuance date of March 31, 2025. This acknowledgement is part of a broader set of statements confirming the franchisee's understanding and acceptance of the FDD's contents. This acknowledgement appears in the standard franchise agreement.
The acknowledgement confirms that the franchisee received the FDD and had ample time to review it before signing the franchise agreement or making any payments. Specifically, the franchisee confirms receiving the FDD at least 14 calendar days (or 10 business days in Michigan) before signing the agreement or making a payment, or before the first personal meeting in Iowa, whichever occurred first. This timeframe is designed to allow prospective franchisees sufficient opportunity to carefully consider the investment.
This acknowledgement also states that the franchisee understands the FDD and any exhibits, has had the opportunity to read it, and has not relied on any representations inconsistent with the information presented in the document. Furthermore, the franchisee acknowledges the opportunity to conduct an independent investigation of the franchised business and seek independent counsel. This is a standard practice in franchising, ensuring franchisees are fully informed and aware of the risks involved.
By signing this acknowledgement, the franchisee confirms their understanding that the success of the Jersey Mikes franchise depends largely on their own abilities as a business owner and that the franchised business involves inherent risks. This comprehensive acknowledgement aims to protect both the franchisor and franchisee by ensuring a clear understanding of the franchise agreement and the associated responsibilities and risks.