What action must I take regarding the Receipt included in the Kidokinetics Franchise Disclosure Document?
Kidokinetics Franchise · 2024 FDDAnswer from 2024 FDD Document
Issuance Date: April 19, 2024
I received a disclosure document issued April 19, 2024 which included the following exhibits:
Exhibit A List of State Administrators and Agents for Service of Process Exhibit B Franchise Agreement Exhibit C Franchise Operations Manual Table of Con ntents Exhibit D Financial Statements Exhibit E List of Current and Former Franchisees Exhibit F Franchise Disclosure Questionnaire Exhibit G State Addenda and Agreement Riders Exhibit H Contracts for Use with the Kidokinetics Fr anchise Exhibit I State Effective Dates Exhibit J Receipt Rev. 012417
PLEASE RETAIN THIS COPY FOR YOUR RECORDS.
RECEIPT (Our Copy)
This disclosure document summarizes certain provisions of the franchise agreement and other information in plain language. Read this disclosure document and all agreements carefully.
If Kidokinetics Franchise LLC offers you a franchise, it must provide this disclosure document to you 14 calendar days before you sign a binding agreement with, or make a payment to, the franchisor or an affiliate in connection with the proposed franchise sale.
Under Iowa law, if applicable, Kidokinetics Franchise LLC must provide this disclosure document to you at your first personal meeting to discuss the franchise. Michigan requires Kidokinetics Franchise LLC to give you this disclosure document at least ten business days before the execution of any binding franchise or other agreement or the payment of any consideration, whichever occurs first. New York requires you to receive this disclosure document at the earlier of the first personal meeting or ten business days before the execution of the franchise or other agreement or the payment of any consideration that relates to the franchise relationship.
If Kidokinetics Franchise LLC does not deliver this disclosure document on time or if it contains a false or misleading statement or a material omission, a violation of federal law and state law may have occurred and should be reported to the Federal Trade Commission, Washington, D.C. 20580, and the appropriate state agency identified on Exhibit A.
Source: Item 23 — RECEIPT (FDD pages 59–205)
What This Means (2024 FDD)
According to Kidokinetics's 2024 Franchise Disclosure Document, you should retain a copy of the receipt included in the document for your records. The receipt confirms that you received the FDD, which summarizes key provisions of the franchise agreement.
Kidokinetics must provide you with the FDD at least 14 calendar days before you sign any binding agreement or make any payment related to the franchise. Certain states, like Iowa, Michigan, and New York, have specific requirements regarding when the FDD must be provided to you, such as at the first personal meeting or a certain number of business days before signing any agreement or making a payment.
The FDD also indicates that if Kidokinetics does not deliver the disclosure document on time, or if it contains false or misleading statements or material omissions, it could be a violation of federal and state laws. In such cases, you should report it to the Federal Trade Commission and the appropriate state agency listed in Exhibit A.
Before signing the Franchise Agreement, you will also be asked to complete a Franchise Disclosure Questionnaire. This questionnaire is not to be used for any franchise sale in or to residents of California, Hawaii, Illinois, Indiana, Maryland, Michigan, Minnesota, New York, North Dakota, Rhode Island, South Dakota, Virginia, Washington, or Wisconsin. You cannot sign or date this questionnaire the same day as the Receipt for the Franchise Disclosure Document, but you must sign and date it the same day you sign the Franchise Agreement.