What is the FDD?
The FDD is one of the most important documents involved in opening a franchise. The FDD outlines everything you should know about the company you’re about to partner with. Information on litigation, number of locations, profits and losses, and much more is included in the FDD. You’ll have at least two weeks to review it before you are asked to sign your franchise agreement. It’s important to review the FDD very carefully because it will help you make an informed decision, and to know what to expect once your store’s doors open. Because the FDD is a complex legal document, it’s a good idea to review it with an attorney to ensure that partnering with the franchisor is in your best interest.
How do I get a copy of the FDD?
In many cases, franchisors ask that you give them your contact information and indicate that you are interested in opening a franchise before they will send you a copy of the FDD. The FDD includes sensitive information about their business, so they usually won’t publish it for the public to see.
What is the purpose of the FDD?
The purpose of the FDD is to make the current state of the franchisor’s business clear to any invested parties. You have a right to know exactly what you are buying into. Along these lines, lending institutions also look at the FDD when deciding whether or not to offer a loan to a prospective franchisee. The FDD is an important document to refer to when making business decisions regarding the franchisor.
What happens after I review the FDD?
After you’ve reviewed the FDD, you’ll have all of the information you need to decide if you’d like to become a franchisee. You’ll make the final decision about officially signing a franchise agreement. If you’re thinking of franchising with Experimac, you’ll be entering the computer repair industry with a thorough understandings of Experimac’s inner workings. You’ll be able to capitalize on that knowledge when you work with our teams to get your store off to the strongest start possible.
If you’re interested in reviewing Experimac’s FDD, reach out to us today.