Where can I find an accurate and complete description of the ownership interests in a Kidokinetics franchise?
Kidokinetics Franchise · 2024 FDDAnswer from 2024 FDD Document
- 10.2.6.
The ownership interests in Franchisee are accurately and completely described on Attachment D of this Agreement.
Upon the occurrence of any change of ownership, Franchisee will immediately provide Franchisor with a copy of the updated list of all owners of the entity.
Franchisee will make a list of its owners available to Franchisor at any time upon request;
Source: Item 22 — CONTRACTS (FDD page 59)
What This Means (2024 FDD)
According to Kidokinetics's 2024 Franchise Disclosure Document, the ownership interests in the franchisee entity must be accurately and completely described on Attachment D of the Franchise Agreement. This attachment serves as the primary record of who owns the Kidokinetics franchise and in what proportion.
Upon any change of ownership, the franchisee is obligated to immediately provide Kidokinetics with an updated list of all owners. This ensures that Kidokinetics maintains current records of the franchise's ownership structure. Furthermore, the franchisee must make a list of its owners available to Kidokinetics at any time upon request.
This requirement allows Kidokinetics to maintain oversight and control over the ownership of its franchises, which is a common practice in franchising. It is important for prospective franchisees to understand that any changes in ownership must be promptly reported and documented according to the franchise agreement.