Class 101,Inc. is a Kentucky corporation that was formed in Kentucky on June 5,2007. We do business under the, name “Class 101”. We do not do business under any other name. Our principal business address is 245 Regency Circle, Lexmgton, Kentucky 40503. The name and address of our agent for service of process is disclosed, in Exhibit “A” to this Disclosure Document.
We have no parents or predecessors. We have one affiliate. College Finance.Planning, Inc, (“CFP”), which has been.operating a college preparation business at 2039 Regency Road, Suite 8, Lexington, Kentucky 40503 since July, 1998. Except as described above, we have no parents or affiliates that offer franchises in any line of business or that provide products or services to our. franchises
Class 101, Inc. Was formed in Kentucky on June, 2007 under the laws of the State Of Kentucky franchise the “Class 101” concept developed'by our affiliated College Finance Planning, Inc, a Kentucky corporation. We are in the business of granting franchises and providing services to Franchisees consisting of the opportunity-to open and operate a, business providing advice, guidance and training to high school studends and their parents preparing for, selecting, applyinging to it and paying for, college under the “Class 101” service mark and system of operating procedures. We have offered Class 101 franchises: since. June, 2007. We do not sell franchises in any other line of business. We do not intend to operate, our college preparation businesses; nor are we involved in any other businesses. We have one affiliate described below that has operated a college preparation business in Lexington, Kentucky since July, 1998. In the future, this or other affiliates may operateClass 101 businesses. In the fufure, we may also offer, to qualified individuals (“Area Representatives”), pursuant to a separate disclpsufe document, the right lo solicit, screen, and recruit franchises and to provide training and pngoing assistance to franchisees within the. Area Representative's designated territory
Upon using the Frainchise Agreement, you must pay us an initial francKise fee,(referred.to in this Disclosure DocUitient as the “FrahchiseFee”) in the amount of $32,900.00 for Designated Territory. The Franchise Fee is payable'in full upon signing the Franchise Agreement. The Franchise Fee is uniform for all franchises at-this and the franchise fee refundable in, whole or in part under any circumstances. The Franchise Fee includes art initial supply of forms, business cards, and collateral material. The Franchise Fee is reduced if,you purchase more than one Designated Territpry, as follows: (a) one Designated Territpry = $32,960; (b) two,Designated Territories - $62,800; (c) three Designated Territories$89;000; and (iv) four Designated Territories - $ 1 l6;0OO.
Neither we nor our affiliates offer any direct or indirect financing arrangements to franchisees. We do not guarantee any notes,, leases on other obligations of yours to third parties.
The FTC's Franchise Rule permits a franchisor to provide information about the actual or potential financial performance of its franchises and franchisor-owned Outlets, jf there is a reaspnable basis for the information, and if the Information is included in the disclosure document. Financial performance Information that differs from that, included in Item 19 may be given only if: (1) a franchisor provides the actual records of an existing Outlet yOU are considering buying; or (2) a franchisor supplements the information provided in this Item 19; for example, by providing information about possible performance at a particular location or under particular circumstances