What is the purpose of Schedule 2, the Statement of Franchise Owners, within the Mrcool franchise agreement?
Mrcool Franchise · 2025 FDDAnswer from 2025 FDD Document
| Schedule 1 | Location and Designated Territory Acknowledgment |
|---|---|
| Schedule 2 | Statement of Franchise Owners |
| Exhibit 1 | Franchise Owner and Spouse Agreement and Guaranty |
| Exhibit 2 | Confidentiality Agreement |
| Exhibit 3 | Site Selection Acknowledgment |
| Exhibit 4 | Lease Agreement Rider |
| Exhibit 5 | Collateral Assignment of Lease |
| Exhibit 6 | Assignment of Telephone Numbers and Digital Media Accounts |
| Exhibit 7 | ACH Authorization Form |
| Exhibit 8 | General Release |
Source: Item 22 — CONTRACTS (FDD page 55)
What This Means (2025 FDD)
According to Mrcool's 2025 Franchise Disclosure Document, Schedule 2 of the franchise agreement is identified as the "Statement of Franchise Owners." While the FDD lists this schedule as part of the franchise agreement, it does not provide specific details about the statement's contents or purpose.
Without further information, it is difficult to determine the exact nature of the "Statement of Franchise Owners." It could involve various declarations or acknowledgments from the franchisee, such as confirming their understanding of the franchise terms, verifying their financial capabilities, or disclosing relevant business experience. The statement might also include legal affirmations or attestations required by Mrcool.
A prospective Mrcool franchisee should carefully review the full franchise agreement and its schedules to understand the specific requirements outlined in Schedule 2. It would be prudent to seek clarification from Mrcool regarding the information required in the "Statement of Franchise Owners" and its implications for the franchisee's obligations and responsibilities. Understanding the content and purpose of this statement is crucial before signing the franchise agreement.