If the Spray Net financial statements are not attached, what should I do?
Spray_Net Franchise · 2025 FDDAnswer from 2025 FDD Document
If Spray-Net Inc. 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, DC 20580 and your State Administrator listed in Exhibit D to this Franchise Disclosure Document.
I have received a Franchise Disclosure Document with an Issuance Date of April 21, 2025, which contained the following Exhibits:
A: Franchise Agreement B: Operations Manual Table of Contents C: Financial Statements D: List of State Administrators E: List of Agents for Service of Process F: State Specific Addenda G: List of Franchises H: List of Former Franchisees I: Sample Release Agreement J: State Effective Dates
K: Receipts
Source: Item 21 — FINANCIAL STATEMENTS (FDD page 75)
What This Means (2025 FDD)
According to Spray Net's 2025 Franchise Disclosure Document, if the document is not delivered on time, contains a false or misleading statement, or has a material omission, a violation of federal and state law may have occurred. In this case, you should report it to the Federal Trade Commission (FTC) in Washington, DC, and to your State Administrator, who is listed in Exhibit D of the FDD.
As a prospective franchisee, it is crucial to verify that all components of the FDD are complete and accurate before making any decisions. The financial statements are a key part of your due diligence, providing insights into the franchisor's financial health and stability. Without them, you cannot properly assess the risks and potential rewards of investing in a Spray Net franchise.
Exhibit K of the Spray Net FDD includes receipts. The receipts page confirms that the FDD should contain financial statements in Exhibit C. If Exhibit C is missing, this should be considered a material omission. You should also ensure you receive the FDD within the mandated timeframe, which is fourteen calendar days before signing any binding agreement or making any payment to Spray Net. Some states like New York, Rhode Island, Michigan, Oregon, and Wisconsin have specific timelines that may require earlier disclosure.