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The Franchise Disclosure Document (FDD) Item 10 Explained
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We're continuing on in the Franchise Disclosure Document (FDD) and we're gonna be today looking at Item/Section 10, which directly relates to the financial arrangements of the franchisor and the franchisee. And this section is a little bit complicated in that when you go to acquire a franchise, you may get some financial benefits from the franchisor and you may be getting some benefits from a third party as far as financing to acquire your franchise. So what this particular section tries to lay out are those obligations that are being provided by the franchisor.
Why is this such an important section to review?
Well, it's really about the funding. Most candidates that we work with need some kind of third-party financing or funding in order to get the business of their dreams. So what you're gonna need to ask is if the franchisor of the franchise that you're interested in moving forward with, do they offer any kind of financing? Some of them do, and some of them don't. We always encourage our candidates to work with one of our preferred funding partners because this way you can have all of your options laid out and make an informed decision. How wonderful would it be to know if the franchise offers funding and/or what other types of funding may be out there such as SBA, a HELOC, or even look at a source such as unsecured business funding? So there are lots of options out there, but today's conversation is about what's in the FDD and that relates to is the franchise offering any funding.
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Credit
Wikipedia - https://www.wikipedia.com
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๐ FREE E-BOOK: THE ROADMAP TO BUYING A FRANCHISE - IN 9 EASY STEPS
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