When signing the Kidokinetics receipt, does it confirm that I have personally reviewed the Franchise Agreement and its attachments?
Kidokinetics Franchise · 2024 FDDAnswer from 2024 FDD Document
| 1. | Yes | No | Have you received and personally reviewed the Franchise Agreement and each attachment or exhibit attached to it that we provided? |
|---|---|---|---|
| 2. | Yes | No | Have you received and personally reviewed the Franchise Disclosure Document and each attachment or exhibit attached to it that we provided? |
| 3. | Yes | No | Did you sign a receipt for the Franchise Disclosure Document indicating the date you received it? |
| 4. | Yes | No | Do you understand all the information contained in the Franchise Disclosure Document and Franchise Agreement? |
| 5. | Yes | No | Have you reviewed the Franchise Disclosure Document and Franchise Agreement with a lawyer, accountant, or other professional advisor, or have you had the opportunity for such review and chosen not to engage such professionals? |
| 6. | Yes | No | Have you had the opportunity to discuss the benefits and risks of developing and operating a Kidokinetics Franchise with an existing Kidokinetics franchisee? |
| 7. | Yes | No | Do you understand the risks of developing and operating a Kidokinetics Franchise? |
| 8. | Yes | No | Do you understand the success or failure of your Kidokinetics Franchise will depend in large part upon your skills, abilities, and efforts, and those of the persons you employ, as well as many factors beyond your control such as competition, interest rates, the economy, inflation, labor and supply costs, and other relevant factors? |
| 9. | Yes | No | Do you understand all disputes or claims you may have arising out of or relating to the Franchise Agreement must be arbitrated in Florida, if not resolved informally or by mediation (subject to state law)? |
Source: Item 23 — RECEIPT (FDD pages 59–205)
What This Means (2024 FDD)
According to Kidokinetics' 2024 Franchise Disclosure Document, signing the receipt confirms you have personally reviewed the Franchise Agreement and its attachments. As part of the receipt, you will be asked to confirm whether you have received and personally reviewed the Franchise Agreement and all attachments.
This confirmation is part of a broader set of acknowledgments Kidokinetics requires. You'll also need to confirm that you've received and reviewed the Franchise Disclosure Document (FDD) and its attachments, and that you understand all the information in both the FDD and the Franchise Agreement.
Furthermore, the receipt includes questions about whether you've consulted with professional advisors like lawyers or accountants, and whether you've had the opportunity to discuss the franchise with existing Kidokinetics franchisees. You'll also need to confirm your understanding of the risks involved and that your success depends on your own efforts and other factors.
Kidokinetics also requires confirmation that no employee made statements about costs or potential profits that are not included in the FDD. This comprehensive approach ensures that franchisees acknowledge they have received and understood key documents and information before entering into the agreement.