<PAGE>   1


                                                                Exhibit 10(i)(c)

CAUTION: THIS FORM IS ONLY FOR USE BY RESIDENTS OF AR, CA, CT, DE, IN, IA, KS,
KY, ME, MD, MA, MI, MN, MS, MO, NV, NH, OK, OR, PA, SC, WV AND WI. RESIDENTS OF
AK, DC, HI, ID, MT, NE, NM, ND, RI, SD, UT, VT, WA, AND WY ARE NOT PERMITTED TO
PURCHASE SHARES IN THIS OFFERING.

                                 INSTRUCTIONS TO
                  SOPHISTICATED INVESTOR SUBSCRIPTION AGREEMENT
                                       FOR
                             FANZ ENTERPRISES, INC.

         Persons interested in purchasing shares of Common Stock, $.01 par value
per share, ("Shares") of FanZ Enterprises, Inc. (the "Company") must :

         1. FULLY complete and sign the attached Subscription Agreement (the
            "Agreement");

                      PLEASE COMPETE THE ENTIRE FORM. INCOMPLETE FORMS WILL BE
                      RETURNED TO YOU.

         2. Include a check made payable to "FIRSTAR BANK, N.A., ESCROW ACCOUNT
            FOR FANZ ENTERPRISES, INC." (Please note the minimum amount of
            $250.00.)

         3. Send the completed and signed AGREEMENT AND CHECK to:

                                            FanZ Enterprises, Inc.
                                            5419 Cayman Drive
                                            Carmel, IN  46033

         If and when accepted by the Company, the Agreement shall constitute a
subscription for Shares of the Company. THE MINIMUM INVESTMENT IS $250.00 (25
SHARES).

         The Company reserves the right to reject in its entirety any
subscription that is tendered or to allocate to any prospective purchaser a
smaller number of Shares than the prospective purchaser has subscribed to
purchase. In such event, the Company will return to you the Agreement, your
payment (or a pro rata portion of your payment, if subscription is rejected only
in part), with interest if your check or funds are deposited in the escrow
account.

         A copy of the accepted Agreement will be returned to you as your
receipt, and a stock certificate will be issued to you shortly thereafter.


                         PLEASE COMPLETE AND RETURN THE
                          ATTACHED PAGE WITH YOUR CHECK


NOTE:         Before completing the attached subscription agreement, you should
              carefully and completely read the Company's Prospectus. In making
              your investment decision, you should rely only on the information
              in the Company's Prospectus and not on any other information.



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                  SOPHISTICATED INVESTOR SUBSCRIPTION AGREEMENT
                                       FOR
                             FANZ ENTERPRISES, INC.

         I/we hereby irrevocably tender this Agreement for the purchase of
_________ Shares (25 SHARES MINIMUM) at $10.00 per Share. With this Agreement,
I/we tender payment in the amount of $_______ ($10.00 per Share; $250.00 MINIMUM
INVESTMENT) for the Shares subscribed.

         In connection with this investment in the Company, I/we represent and
warrant as follows:

<TABLE>
<CAPTION>
<S>      <C>
a.       Prior to tendering payment for the Shares, I/we received the Company's Prospectus dated
         ___________________ 2001.

b.       I am/we are bona fide resident(s) of                                   ,                                  .
                                              ----------------------------------  ---------------------------------
                                                          (State)                              (Country)

c.       I/we HAVE / DO NOT HAVE (please circle one) either (i) an annual gross income of $65,000 or more
         and a minimum net worth of $65,000 (excluding the value of automobiles, homes and home furnishings)
         OR (ii) a minimum net worth of $150,000 (excluding the value of automobiles, homes and home
         furnishings).(1)
</TABLE>

Form/Type of Ownership for Shares Being Purchased ( MUST check one):

<TABLE>
<CAPTION>
<S>                             <C>                                  <C>
___ Individual                  ___ Minor with adult custodian       ___ Tenants-in-Common
___ Existing Partnership        under the Uniform Gift               ___ Joint Tenants
___ Corporation                 To Minors Act                        ___ Trust
</TABLE>


For the person(s) who will be registered shareholder(s) (MUST FULLY COMPLETE):


<TABLE>
<CAPTION>
<S>                                                                    <C>
Name of shareholder as you would like it to appear on stock certificate:
                                                                         ------------------------------------------

Name(s):                                                               Telephone:
         -------------------------------------------------------                 ----------------------------------

Street Address:
               -------------------------------------------------       Social Security or
                                                                       Taxpayer ID No.:
                                                                                        ------------------

City:                            State:        Zip:                    Date of Birth:
     -----------------------             ----       ------------                      -----------------------------

Signature:                                                             Date:
            ----------------------------------------------------             --------------------------------------
</TABLE>



<TABLE>
<CAPTION>
<S>                                                <C>                                  <C>
ACCEPTED BY:  FANZ ENTERPRISES, INC.

By:                                                  Title:                              Date:
    ----------------------------------------                ----------------------------       --------------

Method of Payment: ________________________         Item No. ____________________
</TABLE>

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(1) The state securities agencies of AK, CA, CT, DE, IN, IA, KS, KY, ME, MD, MA,
MI, MN, MS, MO, NV, NH, OK, OR, PA, SC, WV, WI. have restricted the sale of
these securities to only residents of these states who meet the sophistication
requirements of the North American Securities Administrators Association. If you
do not meet the income / net worth requirements in section (c) above, you may
NOT purchase Shares at this time.