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.
Guam Franchise Registration Questionnaire
Category:
State:
Multi-State
Control #:
US-1-01-STP
Format:
Word;
Rich Text
Instant download
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How to fill out Franchise Registration Questionnaire?
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FAQ
The key elements of a franchise agreement generally include: Territory rights. ... Minimum performance standards. ... Franchisors services requirements. ... Franchisee payments. ... Trademark use. ... Advertising standards. ... Exclusivity clause. ... Insurance requirements.
Some franchise requirements to take into consideration may include: Credit score. Minimum credit scores vary by franchisor, but most consider a grade of 680 or higher as ideal. Net worth. ... Available cash. ... Previous industry experience. ... Management experience. ... Total investment required. ... Ongoing costs. ... Training and support.
The Rule requires franchisors to provide all potential franchisees with a disclosure document containing 23 specific items of information about the offered franchise, its officers, and other franchisees.
A disclosure document must include information about the number of existing and former franchisees and contact details for them. It is important for potential franchisees to speak to current and former franchisees to help inform their decision about whether to buy a franchise.
The primary franchising documents needed to create a franchise relationship and franchise your business include: Franchise disclosure document. Franchise agreement. Operations manual. Franchise Registration Applications and Notices. Financial Statements.
Some franchise requirements to take into consideration may include: Credit score. Minimum credit scores vary by franchisor, but most consider a grade of 680 or higher as ideal. Net worth. ... Available cash. ... Previous industry experience. ... Management experience. ... Total investment required. ... Ongoing costs. ... Training and support.
The Franchise Rule requires franchisors to make material disclosures in five categories: (1) the nature of the franchisor and the franchise system; (2) the franchisor's financial viability; (3) the costs involved in purchasing and operating a franchised outlet;
Questions to ask yourself: Do you have the personal drive to be a successful entrepreneur? Are you willing to work whatever hours it takes to make your business a success? Are you willing to give up the perks of being an employee to invest and run your won business? Are you self-reliant? Can you work without support?