The FDD, which stands for Franchise Disclosure Document, is a document the FTC requires a franchisor submit this to the prospective franchisee at least 14 days prior to signing a contract. When you are considering a pet franchise in Pinellas County, this is one of the most important elements of the sale. Here are a few things you want to pay careful attention to with this.
The Legal History of the Franchise
One of the things you will want to pay attention to is the legal history of the company. By law a pet franchise in Pinellas County will have to tell you any lawsuits they are currently dealing with as well as other legal matters such as bankruptcy proceedings. While one or two lawsuits can be normal, if the legal history of the company is extensive, then it may be best to find another company.
Rules of Products and Services
With a franchise, the franchisor has the final say in not only the services offered, but the products that you sell in your pet franchise in Pinellas County. Make sure you read through the list to ensure you know what is expected. As well as looking at the products, it is important to note whether there are specific suppliers you will be expected to use. For instance, with Splash and Dash Groomerie & Boutique, franchisors have a website where they can order from all the vendors for the franchise and pay with just one checkout to make purchasing easier.
Contractual Obligations For A Pet Franchise in Pinellas County
Before you jump into your pet franchise in Pinellas County, it is important to understand what will be required of you. Along with this, you should understand what your right are as a franchise owner. While much of this will be reiterated during your training, you want to make sure that this is something you are going over before you buy the franchise.
The best thing you can do when you are considering a pet franchise in Pinellas County is to look over the entire document on your own. After this, you should have a lawyer look over the document for you. It is also a good idea to have your accountant go over this as well to ensure that this is something that is really in your best interest.