Introduction
This Disclosure Document is being provided to you, the prospective Franchisee, for assistance in the evaluation of Monkeynastix as a potential investment and career opportunity. While this Document is based largely on information that can be found in the Franchise Agreement, it also provides additional information that may be of assistance to those interested in acquiring a Monkeynastix Franchise.
“Making a decision to acquire any business opportunity is a serious matter”Note: The Disclosure Document contains salient elements of the Franchise Agreement however it does not contain the Franchise Agreement in its entirety. When you reach the point that the complete Franchise Agreement is presented to you, we advise that you read the entire agreement carefully. It is also our recommendation that you have the contents of the Franchise Agreement explained in detail to you by an attorney.
Making a decision to acquire any business opportunity is a serious matter. We, at Monkeynastix, want you to take the time you require for this process. We hope that you review this Disclosure Document thoroughly. We recommend that you meet our management staff and contact our Franchisees, for their insight into the opportunities that will be afforded to you as a Monkeynastix Franchisee. The responsibility still rests with the Franchisee to draw up their own business plan – including cash flow and financial projections.
“This document fully complies with the standards established by the Franchise Association of South Africa (FASA)”
This Document fully complies with the standards established by the Franchise Association of South Africa (FASA) and incorporates all of thedisclosure requirements as laid down by the Consumer Protection Act. Monkeynastix believes that the more information that is available for review by a prospective Franchisee, the better his or her chances for making the best decision. It is therefore our intention to offer as much information and assistance as possible.
Monkeynastix subscribes to the fourteen day “cooling-off” period after receipt of the agreement, as suggested by ethical franchising standards. Thereafter in the case of a new Franchise Agreement, there will be a further 10 business days “cooling off” period after signing of the Monkeynastix Franchise Agreement. During this period you may terminate the agreement by written notice to the franchisor without cost or penalty, aside from the deduction of direct costs from the deposits as agreed to in the recruitment and selection process. Furthermore, we strongly encourage potential franchisees to undertake their own research regarding both franchising in general and this opportunity in order to ensure a fully informed approach.
Naturally, receipt of this Disclosure Document and submission of any application/s or correspondence forms part of our recruitment and selection process of Franchisees and does not constitute a binding contractual obligation on either party. It will only be upon payment of the requisite monies and signature of the applicable agreements that a formal relationship will be established between Monkeynastix and your entity.
This Disclosure Document should assist you in assessing the franchise. While it includes some information about your franchise agreement do not rely on it alone to understand your contract; read your entire contract carefully. Buying a franchise is a serious undertaking; take your time to decide. It is recommended that you have the contract explained to you by an attorney and you should seek accounting and financial advice on the franchise proposition. For the calendar year 2011, Monkeynastix is a Full Member in good standing of the Franchise Association of Southern Africa, if required, further information on this Membership can be obtained from:
The Executive Director, Franchise Association of Southern Africa (Postnet Suite # 256, Private Bag X4, Bedfordview, 2008).