Please enjoy this guest post from The Franchise King®, Joel Libava.
I’m sorry. The sarcastic part of my brain took total control of me when I wrote the headline you just read. It won’t happen again. Right.
The document I’m about to teach you about is actually one of the most boring documents ever invented. But, it’s so darn important.
The Franchise Disclosure Document (FDD) is a legal document that franchisors must furnish to prospective franchisees, by law. The Federal Trade Commission (FTC) is the regulatory body that enforces it. That makes it kind of a big deal.
The FDD contains information…facts and figures on the franchise business opportunity, and is provided to help you analyze the offering.
You, as a prospective owner of a franchise, must receive the FDD at least 14 days before you are asked to sign any contract or pay any money to the franchisor or an affiliate of the franchisor. You have the right to ask for and get a copy of the disclosure document once the franchisor has received your application and agreed to consider it. Continue reading “The Most Exciting 350 Page Document You’ll Ever Read” »