What is the Statement of Franchise Owners (Schedule 2) for in the Mrcool Franchise Agreement?
Mrcool Franchise · 2025 FDDAnswer from 2025 FDD Document
Franchise Agreement – Schedule 2 Statement of Franchise Owners
Franchisee represents that the following schedule is complete and accurately identifies Franchisee's Owners, Franchisee's Managing Owner, and their respective ownership interests in Franchisee. Defined terms shall have the meanings set forth in the Franchise Agreement between Franchisor and Franchisee.
Source: Item 23 — RECEIPTS (FDD pages 55–263)
What This Means (2025 FDD)
According to Mrcool's 2025 Franchise Disclosure Document, Schedule 2 of the Franchise Agreement is the Statement of Franchise Owners. This schedule requires the franchisee to accurately identify all owners, the Managing Owner, and their respective ownership interests in the franchise.
For a prospective Mrcool franchisee, this means providing a complete and accurate list of all individuals or entities that have an ownership stake in the franchise, along with specifying who the Managing Owner is. The Managing Owner is responsible for the day-to-day oversight, management, and operation of the Mrcool franchise.
It is important to ensure this schedule is filled out correctly, as it defines the ownership structure of the Mrcool franchise and identifies the individual responsible for its management. The Managing Owner must also maintain at least 25% equity and ownership interest in the Mrcool franchise.