Someone interested in franchising should be knowledgeable about the strengths and weaknesses of companies that offer such arrangements. Perhaps the best source of information on these and many other issues is the franchisor's disclosure document. This important document, which must be given to prospective franchise owners at least ten business days before any contract is signed or any deposits are owed, usually takes the form of the Uniform Franchise Offering Circular (UFOC). The UFOC contains important information on key aspects of the franchisor's business and the nature of its dealings with franchisees. Information contained in the UFOC includes a franchise history; audited financial statements and other financial history documents; franchise fee and royalty structures; background on the franchise's leading executives; terms of franchise agreements; estimated start-up costs for franchisees (including equipment, inventory, operating capital, and insurance); circumstances under which the franchisor can terminate its relationship with a franchisee; franchisor training and assistance programs; franchisee advertising costs (if any); data on the success (or lack thereof) of current and former franchisee operations; and litigation history.
New Hampshire Form of Uniform Franchise Offering Prospectus
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How to fill out Form Of Uniform Franchise Offering Prospectus?
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FAQ
The federal franchise rule was crafted to provide the potential franchisee with proper background so they can make an informed decision and to circumvent any deception prior to sale of a franchise.
Purpose Behind UFOC The Franchise Rules set out by the Federal Trade Commission mandates full disclosure of information about investing in Franchise Business. The details set out in the circular help the potential buyers to identify the business.
New Hampshire is classified as a non-registration state, as it has no laws requiring franchisors to register with the state as a franchise or business opportunity before offering or selling a franchise.
NH QuickStart, is an online platform for business registration with the Corporation Division of the Secretary of State's Office. Application for Registration of Trade Name: Anyone doing business under any name except his or her own is required to register that trade name with the Secretary of State's Office.
New Hampshire LLC Formation Filing Fee: $100 Filing your Certificate of Formation has a fee of $100. You can submit the certificate through the mail or in person, or you can do it online through NH QuickStart, though you'll need to add $2 for online filings.
Uniform Franchise Offering Circular (UFOC) Definition: A regulatory document describing a franchise opportunity that prospective franchisees have to receive before they pay any money, sign any papers or, in some cases, even meet with the franchisor.
A franchise agreement is a contract under which the franchisor grants the franchisee the right to operate a business, or offer, sell, or distribute goods or services identified or associated with the franchisor's trademark.