If Marble Slab Creamery or an affiliate invests in a franchised Restaurant, how is the LLC operated?
Marble_Slab_Creamery Franchise · 2025 FDDAnswer from 2025 FDD Document
Occasionally we or our affiliates may enter into joint venture arrangements for the operation of Restaurants. We or our affiliates may do so by acquiring an interest in the limited liability company ("LLC") formed to acquire the franchise. In those instances, the LLC will be operated pursuant to a form of Limited Liability Company Operating Agreement substantially similar to the form attached as Exhibit L.
Source: Item 10 — FINANCING (FDD pages 52–53)
What This Means (2025 FDD)
According to Marble Slab Creamery's 2025 Franchise Disclosure Document, Marble Slab Creamery or its affiliates may participate in joint ventures to operate restaurants by acquiring interest in a limited liability company (LLC). In such cases, the LLC will be governed by a Limited Liability Company Operating Agreement. The document states that this agreement will be substantially similar to the form attached as Exhibit L.
For a prospective franchisee, this means that if Marble Slab Creamery or one of its affiliates becomes a co-owner of their franchise through an LLC, the operations of the LLC, and thus the franchise, will be dictated by the terms outlined in the Limited Liability Company Operating Agreement. This agreement will cover aspects such as management, decision-making, and financial responsibilities within the LLC.
It is important for potential franchisees to carefully review Exhibit L, the form of the Limited Liability Company Operating Agreement, to understand their rights, obligations, and the level of control Marble Slab Creamery or its affiliate will have in the operation of the restaurant. This is especially crucial as the terms within this agreement will govern the relationship between the franchisee and Marble Slab Creamery in this specific joint venture scenario.