Part of every franchise discovery process is receiving the Franchise Disclosure Document or FDD. FDDs are goldmines of information about a franchise.
Each franchise in the US has its own FDD, and they are updated annually. Each FDD provides the same 23 sections. These sections are called Items.
Here are just a few of the topics covered in an FDD:
📌Fees and costs
📌Obligations of both the franchisee and the franchisor
📌Territory
📌Exit Strategies
📌Financial statements
📌Contracts and other good stuff!
To learn more about the gold found in FDDs, check out this Franchise Alert.
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