Bronx New York New York Franchise Sales Agent Statement

Name: Bronx New York New York Franchise Sales Agent Statement
Brand: US Legal Forms
Rating: 4.86 (368 reviews)

Category:

Franchises - Registration

State:

Multi-State

County:

Bronx

Control #:

US-4-16-2-STP

Format:

Instant download

Description

This form requests certain information with regard to each corporate officer, director, partner, or other principal of the franchise sales agent. The form also contains a supplemental franchise sales agent statement which is to be used when reporting a change of corporate officers, directors, or other principals of the franchise sales agent.

How to fill out Bronx New York New York Franchise Sales Agent Statement?

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FAQ

The franchise disclosure document (FDD) is a legal disclosure document that must be given to individuals interested in buying a U.S. franchise as part of the pre-sale due diligence process. The document contains information essential to potential franchisees about to make a significant investment.

Why is FDD Important? The FDD lets the prospective franchisees analyze and decide if they are to make the purchase or not. This also provides an opportunity to know more about the franchisor and clear up some of the little known points about the business.

The FDD outlines comprehensive information about the roles of both parties involved in the franchisethe franchisor and the franchiseeand is designed to enable the potential franchisee to make an honest and informed decision about their investment into the business.

The purpose of the Franchise Disclosure Document (FDD) is to provide prospective franchisees with information about the franchisor, the franchise system and the agreements they will need to sign so that they can make an informed decision.

The Disclosure Document can be described as a document which summarises information regarding the Franchise and its system, and sets out for example, details of the Franchisor, details of the existing Franchise network, and what fees will be payable under the Franchise.

Overview of the relationship: This includes the parties to the contract, the ownership of IP, and the overall obligations of the franchisee to operate its business to brand standards.

Here are 10 fundamental provisions outlined in some form or fashion in every franchise agreement: Location/territory.Operations.Training and ongoing support.Duration.Franchise fee/investment.Royalties/ongoing fees.Trademark/patent/signage.Advertising/marketing.

A Franchise Disclosure Document includes 23 specific pieces of information (called items), the franchisors franchise agreement, and various exhibits (like a list of current and past franchisees, and audit financials of the franchisor.

You should also look for any red flags a disclosure document may reveal about the franchisor or franchise system, including: Current or recent litigation: The franchisor must list any legal proceedings which relate to it or an associate (for example, the franchise's holding company).

Income Statement Also referred to as the 'Profit and Loss' statement, the Income Statement shows the summary of franchise revenue and expenses through operating and non-operating activities. The income statement provides an overview of the sales and net income of a franchise business over a specific accounting period.

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Bronx New York New York Franchise Sales Agent Statement

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