Martinizing Dry Cleaning - Uniform Franchise Offering Circular/Franchise Disclosure Document
What is a UFOC/FDD, Uniform Franchise Offering Circular / Franchise Disclosure Document?
The UFOC/FDD was a response to some unethical behavior in the 1960s and 1970s. Today franchises are regulated by law. The Federal Trade Commission (FTC) requires that certain information be disclosed to potential franchisees before a contract can be signed or any payment made. The information is presented to the prospective franchisee in the form of a document -- the UFOC/FDD.
Franchise Registration States
The FTC requires franchisors in every state to provide a UFOC/FDD. In addition, some states require that the offering must first be approved and registered by the state before it can be promoted to prospective franchise buyers. These states include: California, Hawaii, Illinois, Indiana, Maryland, Michigan, Minnesota, New York, North Dakota, Oregon, Rhode Island, South Dakota, Virginia, Washington, and Wisconsin. Certain states, such as Illinois and Minnesota, have even more stringent requirements for the franchisor. This in turn affords better protection for the prospective franchisee.
What Does the Franchise UFOC/FDD Contain?
The UFOC/FDD contains 23 items of information that must be current as of the completion of the franchisors most recent fiscal year. If there is a material change to the information in the document, the franchisor must make a revision (to be issued quarterly). The disclosure document must be given to a prospective franchisee at whichever occurs earlier: the first personal meeting of franchisor and prospective franchisee or ten working days prior to the execution of a contract or money payment to the franchisor.
Standard Registration Documents:
1. The Franchisor, It’s Predecessors And Affiliates
2. Business Experience
3. Litigation
4. Bankruptcy
5. Initial Franchise Fee
6. Other Fees
7. Initial Investment
8. Restrictions On Sources Of Products And Services
9. Franchisee’s Obligations
10. Financing
11. Franchisor’s Obligations
12. Ter
Nite Lites - Uniform Franchise Offering Circular/Franchise Disclosure Document
What is a UFOC/FDD, Uniform Franchise Offering Circular / Franchise Disclosure Document?
The UFOC/FDD was a response to some unethical behavior in the 1960s and 1970s. Today franchises are regulated by law. The Federal Trade Commission (FTC) requires that certain information be disclosed to potential franchisees before a contract can be signed or any payment made. The information is presented to the prospective franchisee in the form of a document -- the UFOC/FDD.
Franchise Registration States
The FTC requires franchisors in every state to provide a UFOC/FDD. In addition, some states require that the offering must first be approved and registered by the state before it can be promoted to prospective franchise buyers. These states include: California, Hawaii, Illinois, Indiana, Maryland, Michigan, Minnesota, New York, North Dakota, Oregon, Rhode Island, South Dakota, Virginia, Washington, and Wisconsin. Certain states, such as Illinois and Minnesota, have even more stringent requirements for the franchisor. This in turn affords better protection for the prospective franchisee.
What Does the Franchise UFOC/FDD Contain?
The UFOC/FDD contains 23 items of information that must be current as of the completion of the franchisors most recent fiscal year. If there is a material change to the information in the document, the franchisor must make a revision (to be issued quarterly). The disclosure document must be given to a prospective franchisee at whichever occurs earlier: the first personal meeting of franchisor and prospective franchisee or ten working days prior to the execution of a contract or money payment to the franchisor.
Standard Registration Documents:
1. The Franchisor, It’s Predecessors And Affiliates
2. Business Experience
3. Litigation
4. Bankruptcy
5. Initial Franchise Fee
6. Other Fees
7. Initial Investment
8. Restrictions On Sources Of Products And Services
9. Franchisee’s Obligations
10. Financing
11. Franchisor’s Obligations
12. Ter
Nextaff - Uniform Franchise Offering Circular/Franchise Disclosure Document
What is a UFOC/FDD, Uniform Franchise Offering Circular / Franchise Disclosure Document?
The UFOC/FDD was a response to some unethical behavior in the 1960s and 1970s. Today franchises are regulated by law. The Federal Trade Commission (FTC) requires that certain information be disclosed to potential franchisees before a contract can be signed or any payment made. The information is presented to the prospective franchisee in the form of a document -- the UFOC/FDD.
Franchise Registration States
The FTC requires franchisors in every state to provide a UFOC/FDD. In addition, some states require that the offering must first be approved and registered by the state before it can be promoted to prospective franchise buyers. These states include: California, Hawaii, Illinois, Indiana, Maryland, Michigan, Minnesota, New York, North Dakota, Oregon, Rhode Island, South Dakota, Virginia, Washington, and Wisconsin. Certain states, such as Illinois and Minnesota, have even more stringent requirements for the franchisor. This in turn affords better protection for the prospective franchisee.
What Does the Franchise UFOC/FDD Contain?
The UFOC/FDD contains 23 items of information that must be current as of the completion of the franchisors most recent fiscal year. If there is a material change to the information in the document, the franchisor must make a revision (to be issued quarterly). The disclosure document must be given to a prospective franchisee at whichever occurs earlier: the first personal meeting of franchisor and prospective franchisee or ten working days prior to the execution of a contract or money payment to the franchisor.
Standard Registration Documents:
1. The Franchisor, It’s Predecessors And Affiliates
2. Business Experience
3. Litigation
4. Bankruptcy
5. Initial Franchise Fee
6. Other Fees
7. Initial Investment
8. Restrictions On Sources Of Products And Services
9. Franchisee’s Obligations
10. Financing
11. Franchisor’s Obligations
12. Ter
A Loft - Uniform Franchise Offering Circular/Franchise Disclosure Document
What is a UFOC/FDD, Uniform Franchise Offering Circular / Franchise Disclosure Document?
The UFOC/FDD was a response to some unethical behavior in the 1960s and 1970s. Today franchises are regulated by law. The Federal Trade Commission (FTC) requires that certain information be disclosed to potential franchisees before a contract can be signed or any payment made. The information is presented to the prospective franchisee in the form of a document -- the UFOC/FDD.
Franchise Registration States
The FTC requires franchisors in every state to provide a UFOC/FDD. In addition, some states require that the offering must first be approved and registered by the state before it can be promoted to prospective franchise buyers. These states include: California, Hawaii, Illinois, Indiana, Maryland, Michigan, Minnesota, New York, North Dakota, Oregon, Rhode Island, South Dakota, Virginia, Washington, and Wisconsin. Certain states, such as Illinois and Minnesota, have even more stringent requirements for the franchisor. This in turn affords better protection for the prospective franchisee.
What Does the Franchise UFOC/FDD Contain?
The UFOC/FDD contains 23 items of information that must be current as of the completion of the franchisors most recent fiscal year. If there is a material change to the information in the document, the franchisor must make a revision (to be issued quarterly). The disclosure document must be given to a prospective franchisee at whichever occurs earlier: the first personal meeting of franchisor and prospective franchisee or ten working days prior to the execution of a contract or money payment to the franchisor.
Standard Registration Documents:
1. The Franchisor, It’s Predecessors And Affiliates
2. Business Experience
3. Litigation
4. Bankruptcy
5. Initial Franchise Fee
6. Other Fees
7. Initial Investment
8. Restrictions On Sources Of Products And Services
9. Franchisee’s Obligations
10. Financing
11. Franchisor’s Obligations
12. Ter
1-800 Got Junk - Uniform Franchise Offering Circular/Franchise Disclosure Document
What is a UFOC/FDD, Uniform Franchise Offering Circular / Franchise Disclosure Document?
The UFOC/FDD was a response to some unethical behavior in the 1960s and 1970s. Today franchises are regulated by law. The Federal Trade Commission (FTC) requires that certain information be disclosed to potential franchisees before a contract can be signed or any payment made. The information is presented to the prospective franchisee in the form of a document -- the UFOC/FDD.
Franchise Registration States
The FTC requires franchisors in every state to provide a UFOC/FDD. In addition, some states require that the offering must first be approved and registered by the state before it can be promoted to prospective franchise buyers. These states include: California, Hawaii, Illinois, Indiana, Maryland, Michigan, Minnesota, New York, North Dakota, Oregon, Rhode Island, South Dakota, Virginia, Washington, and Wisconsin. Certain states, such as Illinois and Minnesota, have even more stringent requirements for the franchisor. This in turn affords better protection for the prospective franchisee.
What Does the Franchise UFOC/FDD Contain?
The UFOC/FDD contains 23 items of information that must be current as of the completion of the franchisors most recent fiscal year. If there is a material change to the information in the document, the franchisor must make a revision (to be issued quarterly). The disclosure document must be given to a prospective franchisee at whichever occurs earlier: the first personal meeting of franchisor and prospective franchisee or ten working days prior to the execution of a contract or money payment to the franchisor.
Standard Registration Documents:
1. The Franchisor, It’s Predecessors And Affiliates
2. Business Experience
3. Litigation
4. Bankruptcy
5. Initial Franchise Fee
6. Other Fees
7. Initial Investment
8. Restrictions On Sources Of Products And Services
9. Franchisee’s Obligations
10. Financing
11. Franchisor’s Obligations
12. Ter
1-800 Water Damage - Uniform Franchise Offering Circular/Franchise Disclosure Document
What is a UFOC/FDD, Uniform Franchise Offering Circular / Franchise Disclosure Document?
The UFOC/FDD was a response to some unethical behavior in the 1960s and 1970s. Today franchises are regulated by law. The Federal Trade Commission (FTC) requires that certain information be disclosed to potential franchisees before a contract can be signed or any payment made. The information is presented to the prospective franchisee in the form of a document -- the UFOC/FDD.
Franchise Registration States
The FTC requires franchisors in every state to provide a UFOC/FDD. In addition, some states require that the offering must first be approved and registered by the state before it can be promoted to prospective franchise buyers. These states include: California, Hawaii, Illinois, Indiana, Maryland, Michigan, Minnesota, New York, North Dakota, Oregon, Rhode Island, South Dakota, Virginia, Washington, and Wisconsin. Certain states, such as Illinois and Minnesota, have even more stringent requirements for the franchisor. This in turn affords better protection for the prospective franchisee.
What Does the Franchise UFOC/FDD Contain?
The UFOC/FDD contains 23 items of information that must be current as of the completion of the franchisors most recent fiscal year. If there is a material change to the information in the document, the franchisor must make a revision (to be issued quarterly). The disclosure document must be given to a prospective franchisee at whichever occurs earlier: the first personal meeting of franchisor and prospective franchisee or ten working days prior to the execution of a contract or money payment to the franchisor.
Standard Registration Documents:
1. The Franchisor, It’s Predecessors And Affiliates
2. Business Experience
3. Litigation
4. Bankruptcy
5. Initial Franchise Fee
6. Other Fees
7. Initial Investment
8. Restrictions On Sources Of Products And Services
9. Franchisee’s Obligations
10. Financing
11. Franchisor’s Obligations
12. Ter
1-800 Radiator - Uniform Franchise Offering Circular/Franchise Disclosure Document
What is a UFOC/FDD, Uniform Franchise Offering Circular / Franchise Disclosure Document?
The UFOC/FDD was a response to some unethical behavior in the 1960s and 1970s. Today franchises are regulated by law. The Federal Trade Commission (FTC) requires that certain information be disclosed to potential franchisees before a contract can be signed or any payment made. The information is presented to the prospective franchisee in the form of a document -- the UFOC/FDD.
Franchise Registration States
The FTC requires franchisors in every state to provide a UFOC/FDD. In addition, some states require that the offering must first be approved and registered by the state before it can be promoted to prospective franchise buyers. These states include: California, Hawaii, Illinois, Indiana, Maryland, Michigan, Minnesota, New York, North Dakota, Oregon, Rhode Island, South Dakota, Virginia, Washington, and Wisconsin. Certain states, such as Illinois and Minnesota, have even more stringent requirements for the franchisor. This in turn affords better protection for the prospective franchisee.
What Does the Franchise UFOC/FDD Contain?
The UFOC/FDD contains 23 items of information that must be current as of the completion of the franchisors most recent fiscal year. If there is a material change to the information in the document, the franchisor must make a revision (to be issued quarterly). The disclosure document must be given to a prospective franchisee at whichever occurs earlier: the first personal meeting of franchisor and prospective franchisee or ten working days prior to the execution of a contract or money payment to the franchisor.
Standard Registration Documents:
1. The Franchisor, It’s Predecessors And Affiliates
2. Business Experience
3. Litigation
4. Bankruptcy
5. Initial Franchise Fee
6. Other Fees
7. Initial Investment
8. Restrictions On Sources Of Products And Services
9. Franchisee’s Obligations
10. Financing
11. Franchisor’s Obligations
12. Ter
Chef's Dane - Uniform Franchise Offering Circular/Franchise Disclosure Document
What is a UFOC/FDD, Uniform Franchise Offering Circular / Franchise Disclosure Document?
The UFOC/FDD was a response to some unethical behavior in the 1960s and 1970s. Today franchises are regulated by law. The Federal Trade Commission (FTC) requires that certain information be disclosed to potential franchisees before a contract can be signed or any payment made. The information is presented to the prospective franchisee in the form of a document -- the UFOC/FDD.
Franchise Registration States
The FTC requires franchisors in every state to provide a UFOC/FDD. In addition, some states require that the offering must first be approved and registered by the state before it can be promoted to prospective franchise buyers. These states include: California, Hawaii, Illinois, Indiana, Maryland, Michigan, Minnesota, New York, North Dakota, Oregon, Rhode Island, South Dakota, Virginia, Washington, and Wisconsin. Certain states, such as Illinois and Minnesota, have even more stringent requirements for the franchisor. This in turn affords better protection for the prospective franchisee.
What Does the Franchise UFOC/FDD Contain?
The UFOC/FDD contains 23 items of information that must be current as of the completion of the franchisors most recent fiscal year. If there is a material change to the information in the document, the franchisor must make a revision (to be issued quarterly). The disclosure document must be given to a prospective franchisee at whichever occurs earlier: the first personal meeting of franchisor and prospective franchisee or ten working days prior to the execution of a contract or money payment to the franchisor.
Standard Registration Documents:
1. The Franchisor, It’s Predecessors And Affiliates
2. Business Experience
3. Litigation
4. Bankruptcy
5. Initial Franchise Fee
6. Other Fees
7. Initial Investment
8. Restrictions On Sources Of Products And Services
9. Franchisee’s Obligations
10. Financing
11. Franchisor’s Obligations
12. Ter
Home Team Inspectiona - Uniform Franchise Offering Circular/Franchise Disclosure Document
What is a UFOC/FDD, Uniform Franchise Offering Circular / Franchise Disclosure Document?
The UFOC/FDD was a response to some unethical behavior in the 1960s and 1970s. Today franchises are regulated by law. The Federal Trade Commission (FTC) requires that certain information be disclosed to potential franchisees before a contract can be signed or any payment made. The information is presented to the prospective franchisee in the form of a document -- the UFOC/FDD.
Franchise Registration States
The FTC requires franchisors in every state to provide a UFOC/FDD. In addition, some states require that the offering must first be approved and registered by the state before it can be promoted to prospective franchise buyers. These states include: California, Hawaii, Illinois, Indiana, Maryland, Michigan, Minnesota, New York, North Dakota, Oregon, Rhode Island, South Dakota, Virginia, Washington, and Wisconsin. Certain states, such as Illinois and Minnesota, have even more stringent requirements for the franchisor. This in turn affords better protection for the prospective franchisee.
What Does the Franchise UFOC/FDD Contain?
The UFOC/FDD contains 23 items of information that must be current as of the completion of the franchisors most recent fiscal year. If there is a material change to the information in the document, the franchisor must make a revision (to be issued quarterly). The disclosure document must be given to a prospective franchisee at whichever occurs earlier: the first personal meeting of franchisor and prospective franchisee or ten working days prior to the execution of a contract or money payment to the franchisor.
Standard Registration Documents:
1. The Franchisor, It’s Predecessors And Affiliates
2. Business Experience
3. Litigation
4. Bankruptcy
5. Initial Franchise Fee
6. Other Fees
7. Initial Investment
8. Restrictions On Sources Of Products And Services
9. Franchisee’s Obligations
10. Financing
11. Franchisor’s Obligations
12. Ter
California Closets - Uniform Franchise Offering Circular/Franchise Disclosure Document
What is a UFOC/FDD, Uniform Franchise Offering Circular / Franchise Disclosure Document?
The UFOC/FDD was a response to some unethical behavior in the 1960s and 1970s. Today franchises are regulated by law. The Federal Trade Commission (FTC) requires that certain information be disclosed to potential franchisees before a contract can be signed or any payment made. The information is presented to the prospective franchisee in the form of a document -- the UFOC/FDD.
Franchise Registration States
The FTC requires franchisors in every state to provide a UFOC/FDD. In addition, some states require that the offering must first be approved and registered by the state before it can be promoted to prospective franchise buyers. These states include: California, Hawaii, Illinois, Indiana, Maryland, Michigan, Minnesota, New York, North Dakota, Oregon, Rhode Island, South Dakota, Virginia, Washington, and Wisconsin. Certain states, such as Illinois and Minnesota, have even more stringent requirements for the franchisor. This in turn affords better protection for the prospective franchisee.
What Does the Franchise UFOC/FDD Contain?
The UFOC/FDD contains 23 items of information that must be current as of the completion of the franchisors most recent fiscal year. If there is a material change to the information in the document, the franchisor must make a revision (to be issued quarterly). The disclosure document must be given to a prospective franchisee at whichever occurs earlier: the first personal meeting of franchisor and prospective franchisee or ten working days prior to the execution of a contract or money payment to the franchisor.
Standard Registration Documents:
1. The Franchisor, It’s Predecessors And Affiliates
2. Business Experience
3. Litigation
4. Bankruptcy
5. Initial Franchise Fee
6. Other Fees
7. Initial Investment
8. Restrictions On Sources Of Products And Services
9. Franchisee’s Obligations
10. Financing
11. Franchisor’s Obligations
12. Ter
Cena To Go - Uniform Franchise Offering Circular/Franchise Disclosure Document
What is a UFOC/FDD, Uniform Franchise Offering Circular / Franchise Disclosure Document?
The UFOC/FDD was a response to some unethical behavior in the 1960s and 1970s. Today franchises are regulated by law. The Federal Trade Commission (FTC) requires that certain information be disclosed to potential franchisees before a contract can be signed or any payment made. The information is presented to the prospective franchisee in the form of a document -- the UFOC/FDD.
Franchise Registration States
The FTC requires franchisors in every state to provide a UFOC/FDD. In addition, some states require that the offering must first be approved and registered by the state before it can be promoted to prospective franchise buyers. These states include: California, Hawaii, Illinois, Indiana, Maryland, Michigan, Minnesota, New York, North Dakota, Oregon, Rhode Island, South Dakota, Virginia, Washington, and Wisconsin. Certain states, such as Illinois and Minnesota, have even more stringent requirements for the franchisor. This in turn affords better protection for the prospective franchisee.
What Does the Franchise UFOC/FDD Contain?
The UFOC/FDD contains 23 items of information that must be current as of the completion of the franchisors most recent fiscal year. If there is a material change to the information in the document, the franchisor must make a revision (to be issued quarterly). The disclosure document must be given to a prospective franchisee at whichever occurs earlier: the first personal meeting of franchisor and prospective franchisee or ten working days prior to the execution of a contract or money payment to the franchisor.
Standard Registration Documents:
1. The Franchisor, It’s Predecessors And Affiliates
2. Business Experience
3. Litigation
4. Bankruptcy
5. Initial Franchise Fee
6. Other Fees
7. Initial Investment
8. Restrictions On Sources Of Products And Services
9. Franchisee’s Obligations
10. Financing
11. Franchisor’s Obligations
12. Ter
Weedman - Uniform Franchise Offering Circular/Franchise Disclosure Document
What is a UFOC/FDD, Uniform Franchise Offering Circular / Franchise Disclosure Document?
The UFOC/FDD was a response to some unethical behavior in the 1960s and 1970s. Today franchises are regulated by law. The Federal Trade Commission (FTC) requires that certain information be disclosed to potential franchisees before a contract can be signed or any payment made. The information is presented to the prospective franchisee in the form of a document -- the UFOC/FDD.
Franchise Registration States
The FTC requires franchisors in every state to provide a UFOC/FDD. In addition, some states require that the offering must first be approved and registered by the state before it can be promoted to prospective franchise buyers. These states include: California, Hawaii, Illinois, Indiana, Maryland, Michigan, Minnesota, New York, North Dakota, Oregon, Rhode Island, South Dakota, Virginia, Washington, and Wisconsin. Certain states, such as Illinois and Minnesota, have even more stringent requirements for the franchisor. This in turn affords better protection for the prospective franchisee.
What Does the Franchise UFOC/FDD Contain?
The UFOC/FDD contains 23 items of information that must be current as of the completion of the franchisors most recent fiscal year. If there is a material change to the information in the document, the franchisor must make a revision (to be issued quarterly). The disclosure document must be given to a prospective franchisee at whichever occurs earlier: the first personal meeting of franchisor and prospective franchisee or ten working days prior to the execution of a contract or money payment to the franchisor.
Standard Registration Documents:
1. The Franchisor, It’s Predecessors And Affiliates
2. Business Experience
3. Litigation
4. Bankruptcy
5. Initial Franchise Fee
6. Other Fees
7. Initial Investment
8. Restrictions On Sources Of Products And Services
9. Franchisee’s Obligations
10. Financing
11. Franchisor’s Obligations
12. Ter
Waldorfastoria - Uniform Franchise Offering Circular/Franchise Disclosure Document
What is a UFOC/FDD, Uniform Franchise Offering Circular / Franchise Disclosure Document?
The UFOC/FDD was a response to some unethical behavior in the 1960s and 1970s. Today franchises are regulated by law. The Federal Trade Commission (FTC) requires that certain information be disclosed to potential franchisees before a contract can be signed or any payment made. The information is presented to the prospective franchisee in the form of a document -- the UFOC/FDD.
Franchise Registration States
The FTC requires franchisors in every state to provide a UFOC/FDD. In addition, some states require that the offering must first be approved and registered by the state before it can be promoted to prospective franchise buyers. These states include: California, Hawaii, Illinois, Indiana, Maryland, Michigan, Minnesota, New York, North Dakota, Oregon, Rhode Island, South Dakota, Virginia, Washington, and Wisconsin. Certain states, such as Illinois and Minnesota, have even more stringent requirements for the franchisor. This in turn affords better protection for the prospective franchisee.
What Does the Franchise UFOC/FDD Contain?
The UFOC/FDD contains 23 items of information that must be current as of the completion of the franchisors most recent fiscal year. If there is a material change to the information in the document, the franchisor must make a revision (to be issued quarterly). The disclosure document must be given to a prospective franchisee at whichever occurs earlier: the first personal meeting of franchisor and prospective franchisee or ten working days prior to the execution of a contract or money payment to the franchisor.
Standard Registration Documents:
1. The Franchisor, It’s Predecessors And Affiliates
2. Business Experience
3. Litigation
4. Bankruptcy
5. Initial Franchise Fee
6. Other Fees
7. Initial Investment
8. Restrictions On Sources Of Products And Services
9. Franchisee’s Obligations
10. Financing
11. Franchisor’s Obligations
12. Ter
Momentum Sports - Uniform Franchise Offering Circular/Franchise Disclosure Document
What is a UFOC/FDD, Uniform Franchise Offering Circular / Franchise Disclosure Document?
The UFOC/FDD was a response to some unethical behavior in the 1960s and 1970s. Today franchises are regulated by law. The Federal Trade Commission (FTC) requires that certain information be disclosed to potential franchisees before a contract can be signed or any payment made. The information is presented to the prospective franchisee in the form of a document -- the UFOC/FDD.
Franchise Registration States
The FTC requires franchisors in every state to provide a UFOC/FDD. In addition, some states require that the offering must first be approved and registered by the state before it can be promoted to prospective franchise buyers. These states include: California, Hawaii, Illinois, Indiana, Maryland, Michigan, Minnesota, New York, North Dakota, Oregon, Rhode Island, South Dakota, Virginia, Washington, and Wisconsin. Certain states, such as Illinois and Minnesota, have even more stringent requirements for the franchisor. This in turn affords better protection for the prospective franchisee.
What Does the Franchise UFOC/FDD Contain?
The UFOC/FDD contains 23 items of information that must be current as of the completion of the franchisors most recent fiscal year. If there is a material change to the information in the document, the franchisor must make a revision (to be issued quarterly). The disclosure document must be given to a prospective franchisee at whichever occurs earlier: the first personal meeting of franchisor and prospective franchisee or ten working days prior to the execution of a contract or money payment to the franchisor.
Standard Registration Documents:
1. The Franchisor, It’s Predecessors And Affiliates
2. Business Experience
3. Litigation
4. Bankruptcy
5. Initial Franchise Fee
6. Other Fees
7. Initial Investment
8. Restrictions On Sources Of Products And Services
9. Franchisee’s Obligations
10. Financing
11. Franchisor’s Obligations
12. Ter
Le Meridien - Uniform Franchise Offering Circular/Franchise Disclosure Document
What is a UFOC/FDD, Uniform Franchise Offering Circular / Franchise Disclosure Document?
The UFOC/FDD was a response to some unethical behavior in the 1960s and 1970s. Today franchises are regulated by law. The Federal Trade Commission (FTC) requires that certain information be disclosed to potential franchisees before a contract can be signed or any payment made. The information is presented to the prospective franchisee in the form of a document -- the UFOC/FDD.
Franchise Registration States
The FTC requires franchisors in every state to provide a UFOC/FDD. In addition, some states require that the offering must first be approved and registered by the state before it can be promoted to prospective franchise buyers. These states include: California, Hawaii, Illinois, Indiana, Maryland, Michigan, Minnesota, New York, North Dakota, Oregon, Rhode Island, South Dakota, Virginia, Washington, and Wisconsin. Certain states, such as Illinois and Minnesota, have even more stringent requirements for the franchisor. This in turn affords better protection for the prospective franchisee.
What Does the Franchise UFOC/FDD Contain?
The UFOC/FDD contains 23 items of information that must be current as of the completion of the franchisors most recent fiscal year. If there is a material change to the information in the document, the franchisor must make a revision (to be issued quarterly). The disclosure document must be given to a prospective franchisee at whichever occurs earlier: the first personal meeting of franchisor and prospective franchisee or ten working days prior to the execution of a contract or money payment to the franchisor.
Standard Registration Documents:
1. The Franchisor, It’s Predecessors And Affiliates
2. Business Experience
3. Litigation
4. Bankruptcy
5. Initial Franchise Fee
6. Other Fees
7. Initial Investment
8. Restrictions On Sources Of Products And Services
9. Franchisee’s Obligations
10. Financing
11. Franchisor’s Obligations
12. Ter
