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South Dakota is a franchise registration state. So, you must file your FDD with the Division of Insurance and Securities Regulation of the South Dakota Department of Labor and Regulation prior to offering or selling franchises in the state.
Although South Carolina is not a franchise registration state, it has enacted Business Opportunity Laws that, if triggered, require the filing of a notice and, potentially, the registering of your franchise offering as a business opportunity.
Look for keywords like "franchise" or "become an owner." Additionally, online business directories can be a great resource for finding out if a brand is a franchise or not. A second key indicator for identifying franchises is the Franchise Disclosure Document (FDD).
Washington State is a franchise registration state. Before offering or selling a franchise in Washington, you must register your FDD with the Securities Division of the Washington State Department of Financial Institutions. The initial filing fee is $600 and the renewal fee is $100.
Federal Franchise Registration Requirements The federal Franchise Rule does not require that a franchisor register or file its FDD with any specific federal agency, including the FTC.
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.
To create a FDD, you need to collect and organize a lot of data about your franchise system, your financial statements, your operations manual, your marketing materials, and your legal documents. You may need to conduct market research, consult with experts, and update your records to ensure accuracy and completeness.
North Dakota is a franchise registration state. Before you offer or sell a franchise in North Dakota, you must register your Franchise Disclosure Document (FDD) with the North Dakota Securities Department.