What is the deadline for Kidokinetics Franchise LLC to provide the disclosure document in Michigan?
Kidokinetics Franchise · 2024 FDDAnswer from 2024 FDD Document
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.
Source: Item 23 — RECEIPT (FDD pages 59–205)
What This Means (2024 FDD)
According to Kidokinetics's 2024 Franchise Disclosure Document, Michigan law requires Kidokinetics Franchise LLC to provide the Franchise Disclosure Document (FDD) to prospective franchisees at least ten business days before the earlier of two events. These events are the execution of any binding franchise or other agreement, or the payment of any consideration related to the franchise.
This regulation ensures that potential Kidokinetics franchisees in Michigan have sufficient time to thoroughly review the FDD and seek professional advice before making any commitments or payments. The ten-business-day period allows franchisees to carefully consider the terms of the franchise agreement and assess the risks and benefits of investing in a Kidokinetics franchise.
It is important for prospective Kidokinetics franchisees in Michigan to be aware of this deadline and to ensure they receive the FDD in a timely manner. If Kidokinetics fails to provide the FDD within the required timeframe, it could be a violation of state law. Franchisees should consult with a franchise attorney to understand their rights and obligations under Michigan law.