For 1-800-GOT-JUNK? franchisees, what specific ownership information is required to be disclosed, including the class of shares/units/other interest?
1_800_Got_Junk Franchise · 2025 FDDAnswer from 2025 FDD Document
SCHEDULE D
This is Schedule D to a Franchise Agreement between 1-800-GOT-JUNK? LLC, a Delaware limited liability company and
SHARE OWNERSHIP
Listed below are names, mailing addresses and legal or beneficial ownership interests of each person holding any shares, units or other form of ownership interest in Franchisee
Shareholder, Partner or Member
Individual Name and Address
Percentage of Ownership Interest and Class of Shares/Units/Other Interest
Source: Item 22 — Contracts (FDD page 24)
What This Means (2025 FDD)
According to the 2025 1-800-GOT-JUNK? Franchise Disclosure Document, Schedule D of the Franchise Agreement requires franchisees to disclose specific ownership details. This schedule mandates the listing of names, mailing addresses, and legal or beneficial ownership interests for each person holding any shares, units, or other form of ownership interest in the franchisee entity.
Specifically, the franchisee must provide the individual name and address of each shareholder, partner, or member. Alongside this, the franchisee is obligated to disclose the percentage of ownership interest held by each individual, as well as the class of shares, units, or other interest they possess.
This information is crucial for 1-800-GOT-JUNK? to maintain transparency and control over its franchise network. By requiring detailed ownership disclosures, 1-800-GOT-JUNK? can assess the suitability of its franchisees and ensure compliance with the franchise agreement. This also allows 1-800-GOT-JUNK? to monitor changes in ownership and prevent unauthorized transfers of franchise rights.