Does signing the Kidokinetics receipt confirm that I understand all the information contained in the Franchise Disclosure Document and Franchise Agreement?
Kidokinetics Franchise · 2024 FDDAnswer from 2024 FDD Document
| 4. | Yes | No | Do you understand all the information contained in the Franchise Disclosure Document and Franchise Agreement? | | 15. | Yes | No | Do you understand that we are relying on your answers to this questionnaire to ensure that the franchise sale was made in compliance of state and federal laws? | No statement, questionnaire, or acknowledgment signed or agreed to by a franchisee in connection with the commencement of the franchise relationship shall have the effect of (i) waiving any claims under any applicable state franchise law, including fraud in the inducement, or (ii) disclaiming reliance on any statement made by any franchisor, franchise seller, or other person acting on behalf of the franchisor. This provision supersedes any other
Source: Item 23 — RECEIPT (FDD pages 59–205)
What This Means (2024 FDD)
According to Kidokinetics's 2024 Franchise Disclosure Document, signing the receipt for the Franchise Disclosure Document (FDD) does not automatically confirm that you understand all the information within the FDD and Franchise Agreement. Instead, the receipt includes a questionnaire that you must complete. Question 4 specifically asks: "Do you understand all the information contained in the Franchise Disclosure Document and Franchise Agreement?" You must answer 'Yes' or 'No' to this question. Your signature on the questionnaire indicates that Kidokinetics is relying on your answers to ensure the franchise sale complies with state and federal laws.
Prospective Kidokinetics franchisees must carefully review and understand the FDD and Franchise Agreement before signing the questionnaire. If you do not understand something, you should answer 'No' and seek clarification from Kidokinetics or consult with a professional advisor.
It is important to note that, according to the FDD, no statement, questionnaire, or acknowledgment signed by a franchisee can waive claims under state franchise law, including fraud, or disclaim reliance on statements made by Kidokinetics. This provision protects franchisees from unknowingly giving up their legal rights. This is a common protection in franchise agreements, as franchise laws often prioritize protecting franchisees from overreaching by franchisors.