This form is a franchise registration questionnare. The form requests information concerning the name and address of the franchisor, affiliates, and competition. Federal law and the law of franchise registration require that an Offering Circular be provided to prospective franchisees no later than the first meeting with them to discuss the franchise and at least 10 business days before either entering into a franchise agreement.
Virginia Franchise Registration Questionnaire
Category:
State:
Multi-State
Control #:
US-1-01-STP
Format:
Word;
Rich Text
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How to fill out Franchise Registration Questionnaire?
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FAQ
The franchise fees are normally calculated in the following four ways: fixed fee; percentage of weekly or monthly revenue; a percentage of each specific item sold; or. total percentage of profit.
This fee can be any amount above $500 (it must be above $500 to trigger the ?payment? element of the FTC Rule). Every franchisor charges a different fee based on their particular business and the industry they're in. Across all franchises, the average initial fee hovers around $25,000 ? $50,000.
The total amount of the initial franchise fee will typically vary depending on how well-established the franchise is. The initial franchise fee can vary between between $10,000 to $50,000. Although, the fee will need to reflect the nature of the franchise and the franchisor's costs of granting a franchise.
Virginia is a franchise registration state. So, you must register your FDD with the Virginia State Corporation Commission prior to offering or selling franchises in the state. Virginia charges a $500 fee for the initial registration application and a $250 fee for renewal applications, which must be done annually.
Each application for the registration or exemption of a franchise shall be accompanied by a fee of $500, payable to the Treasurer of Virginia.
As referenced above, there are generally only three valuation approaches?cost, income, and market?which are acceptable in determining ?fair value? and a valuation specialist is required to consider all three approaches.
Virginia corporations and nonprofits are the only business entities that are required to file an annual report AND pay the annual registration fee. LLCs and LPs are only required to pay the annual registration fee. There is no fee associated with the annual report.
Log on to CIS at . Note: Google Chrome, Internet Explorer or Microsoft Edge are recommended. Click Pay Registration Fees on the top left. Click the Search button.