In the Southern Steer Franchise Disclosure Document, what is the franchisee representing by signing the document?
Southern_Steer Franchise · 2025 FDDAnswer from 2025 FDD Document
| | | Meghan Reynolds | 35246 US HWY 19 N #219, Palm Harbor, FL 34684 | 727-501-3541 | | | Justin Kemper | 14301 FNB Pkwy. #312 Omaha, NE 68154 | 531-333-3278 | | | Thomas John (TJ) Kissane | 14301 FNB Pkwy. #312 Omaha, NE 68154 | 531-333-3278 | | | Other: | | | | Issuance Date: January 31, 2025. I received a disclosure document dated January 31, 2025, that included the following Exhibits:
Exhibit A: Franchise Agreement and Attachments Attachment A Attachment B Attachment C Attachment D Attachment E Attachment F Attachment G Attachment H Attachment I-1 Attachment I-2 Attachment J Franchisee Questionnaire Site, Protected Area, Required Opening Date Statement of Ownership Personal Guaranty Authorization to Honor Electronic Funds Transfer Conditional Assignment of Telephone Listing, Social Media and Directory Listing Agreement Landlord's Consent to Assignment Lease Form of Lease Addendum State Specific Addendum Non-Competition and Non-Disclosure Agreement (Owners) Non-Competition and Non-Disclosure Agreement (Management Staff) Exhibit B: Financial Statements Exhibit C: List of Current and Former Franchisees, Company-Owned Southern Steer Businesses and Franchise Agreements Signed But Not Opened Exhibit D: Multi-Unit Development Agreement Exhibit E: Sample Release Exhibit F: State Agency/Agents for Service of Process Exhibit G: State-Specific Addendum Exhibit H: Brand Manual Table of Contents Exhibit I: Deposit Agreement Exhibit J: State Effective Dates and Receipt Please return the signed Receipt to: Southern Steer Franchising, International 35246 US HWY 19 N #219, Palm Harbor, FL 34684
Receipt (Your Copy)
This disclosure document summarizes certain provisions of the franchise agreement and other information in plain language. Read this disclosure document and all agreements carefully.
If Southern Steer Franchising International, LLC offers You a franchise, it must provide this disclosure document to You 14 calendar-days before You sign a binding agreement with, or make a payment to, the franchisor or an affiliate in connection with the proposed franchise sale. New York and Rhode Island require that You be given this disclosure document at the earlier of the first personal meeting or 10 business days before the execution of any franchise or other agreement, or payment of any consideration that relates to the franchise relationship. Iowa requires that We give You this disclosure document at the earlier of first personal meeting or 14 days before the execution of the franchise or other agreement or payment of any consideration. Michigan and Oregon require that We give You this disclosure document at least 10 business days before the execution of any binding franchise or other agreement or the payment of any consideration, whichever occurs first.
If Southern Steer Franchising International, LLC, does not deliver this disclosure document on time or if it contains a false or misleading statement, or a material omission, a violation of federal law and state law may have occurred and should be reported to the Federal Trade Commission, Washington, D.C. 20580 and any applicable state agency (which are listed in Exhibit F).
If the franchise seller is different than listed below, please write the name, principal business address, and telephone number of each franchise seller offering the franchise to you on the table below:
| Name | Principal Business Address | Telephone Number | | |--------------------------|-----------------------------------------------------|------------------|--| | Greg Snyder | 35246 US HWY 19 N #219, Palm Harbor, FL 34684 | 727-501-3541 | | | Meghan Reynolds | 35246 US HWY 19 N #219, Palm Harbor, FL 34684 | 727-501-3541 | | | Justin Kemper | 14301 FNB Pkwy. #312 Omaha, NE 68154 | 531-333-3278 | | | Thomas John (TJ) Kissane | 14301 FNB Pkwy. #312 Omaha, NE 68154 | 531-333-3278 | | | Other: | | | | Issuance Date: January 31, 2025.
Source: Item 5 — and 7 of the FDD, Section 3.1 of the Franchise Agreement and Section 4.1 of the Multi-Unit Development Agreement are hereby amended to state that payment of the initial franchise fee and development fee will be deferred until We have satisfied Our pre-opening obligations, and You have commenced business operations. (FDD pages 168–290)
What This Means (2025 FDD)
According to the 2025 Southern Steer Franchise Disclosure Document, by signing the receipt, the franchisee acknowledges receiving the disclosure document. The document summarizes key provisions of the franchise agreement and other relevant information in plain language. It serves as an acknowledgement that Southern Steer provided the document at least 14 calendar days before the franchisee signs any binding agreement or makes any payment to Southern Steer or its affiliates related to the franchise sale. Certain states like New York, Rhode Island, Iowa, Michigan and Oregon have specific time frames for providing the disclosure document.
This receipt confirms that Southern Steer has met its legal obligation to provide potential franchisees with essential information to make an informed investment decision. Franchise laws mandate this waiting period to allow franchisees adequate time to review the FDD and seek professional advice. The document also states that failure to deliver the disclosure document on time, or if it contains false or misleading statements or material omissions, may constitute a violation of federal and state law, which should be reported to the Federal Trade Commission and any applicable state agency listed in Exhibit F.
Furthermore, the franchisee is expected to identify any franchise seller involved in offering the Southern Steer franchise if they are different from those listed in the Franchise Disclosure Document. This ensures transparency regarding who is involved in the franchise sales process. The franchisee also confirms their understanding of the non-disclosure obligations regarding Southern Steer's confidential information and trade secrets, as well as the importance of protecting the Southern Steer brand and system.
In summary, signing the receipt is not just a formality but a critical step in the franchise process, signifying that the franchisee has received the necessary information and understands their rights and obligations before entering into a binding agreement with Southern Steer.