This document may be used to register an offer and sale of franchises or to register a renewal statement or annual report. The document also contains a certification statement.
Nevada Illinois Franchise Broker Registration Application
Category:
State:
Multi-State
Control #:
US-4-16-1-STP
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Word;
Rich Text
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How to fill out Illinois Franchise Broker Registration Application?
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FAQ
When you sign your franchise agreement, the broker will typically earn 40% to 50% of the franchise fee you pay to the franchisor or even more, since most brokers have a minimum fee in the range of $12,000.
A typical franchise consultant may be paid by the franchisors they represent by taking commissions on the sale and/or a portion of the franchise fees that you are paying to become a franchisee.
What is a franchise broker? Franchise brokers generate leads to help connect franchisors with qualified franchisee candidates. Their job is to identify and verify potential franchisees, educate them about franchise options and, ultimately, introduce them to franchisors whose goals match theirs.
How much does it cost to start your own franchise? Franchise startup costs can be as low as $10,000 or as high as $5 million, with the majority falling somewhere between $100,000 and $300,000. The price all depends on the industry, location and type of franchise.
Illinois is a franchise registration state and has enacted franchise laws. Under Illinois franchise law, before offering or selling a franchise in the state you must first register your FDD with the Franchise Bureau of the Illinois Attorney General.
How to become a franchise broker Earn an undergraduate degree in business. To become a franchise broker, earn an undergraduate degree in a business-related field. ... Earn a CFC certification. ... Expand your professional network. ... Expand your skills.
The single sale franchise exemption is available to franchisors who wish to avoid registration requirements by limiting the number of franchises offered for sale. In Illinois, the number of franchise sales is limited to 2 sales in any 12-month period.
Illinois is a Franchise Registration State. The initial FDD filing fee is $500 and the annual FDD renewal fee is $100.
When registration is required, franchisors must pay a $500 fee and submit the FDD with a franchise registration application form, sales agent disclosure forms, an auditor's consent, a service of process form, and certain other required documents to the Illinois Franchise Bureau (500 S.