What is the minimum number of business days before execution of any binding franchise agreement that Kidokinetics Franchise LLC must provide the FDD 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' 2024 Franchise Disclosure Document, Michigan law requires Kidokinetics to provide the FDD to a prospective franchisee at least ten business days before the execution of any binding franchise or other agreement. This also applies to the payment of any consideration, whichever event occurs first.
This regulation ensures that potential Kidokinetics franchisees in Michigan have sufficient time to thoroughly review the FDD and seek professional advice before committing to the franchise. The 'business days' stipulation excludes weekends and public holidays, effectively giving the franchisee more than a week to make an informed decision.
It's important for prospective Kidokinetics franchisees in Michigan to note this requirement and ensure they receive the FDD at least ten business days before signing any agreement or making any payments. Failure by Kidokinetics to comply with this requirement could be a violation of state law, as stated in the FDD.