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These legal documents, along with the operating manuals, staffing, training programs, and marketing initiatives, are your main investments in the franchise system. The two primary documents you'll create are the Franchise Agreement and the Franchise Disclosure Document (FDD).
A franchise may be any of the following business types: Sole proprietorship. Corporation. Limited liability company.
Louisiana is not a franchise registration state but has enacted business opportunity laws that apply to franchisors that do not have a federally registered trademark.
The franchise application is just that ? an application. You are applying to become a franchisee for this franchise company, and it is up to the franchisor to review your application to grant you access to their company.
Questions? As one of several states in the United States that requires registration of franchise offerings, the Minnesota Department of Commerce-Securities Division is responsible for overseeing and helping to maintain the integrity of the franchise community in the State of Minnesota.
Franchising is a contractual relationship between a licensor (franchisor) and a licensee (franchisee) that allows the business owner to use the licensor's brand and method of doing business to distribute products or services to consumers.
The Franchise Business Model. A franchise enables you, the investor or franchisee, to operate a business. You pay a franchise fee and you get a format or system developed by the company (franchisor), the right to use the franchisor's name for a specific number of years and assistance.
A franchise is a business structure where the buyer (the franchisee) pays a licensing fee to trade using the branding, trademarks, products, suppliers and systems of an established business (the franchisor).