The Federal Trade Commission (“FTC”) requires that a franchisor provide full disclosure of the business to a prospective franchisee in the form of the UFOC. You must be given the Uniform Franchise Offering Circular (“UFOC”) at least 10 days before signing any franchise agreement or during your first face-to-face meeting, whichever comes first.
Ever wonder what a UFOC look like? Download and check out Durango Grill’s UFOC (pdf). It’s from 2001, so it probably isn’t their current UFOC.
Update 4-27-2005: Fixed broken link to UFOC
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Ryan is an attorney and valuation specialist residing in Chicago. He chronicles his thoughts and research on FranchisePundit.com. You may reach him by email ryanknoll@gmail.com or mobile telephone 312-715-8115.
Great, thanks pundit man. I was wondering what one looked like.
There doesn’t seem to be a lot of detail in it.
The disclosure requirements are minimal compared to what you’d expect from a mutual fund or stock prospectus.