Where can I find a complete and accurate description of all owners and their interests in an All County franchise?
All_County Franchise · 2025 FDDAnswer from 2025 FDD Document
- "Owner" means any person holding a direct or indirect, legal or beneficial ownership interest or voting rights in you (or a transferee of this Agreement and the Business or an interest in you), including, without limitation, any person who has a direct or indirect interest in you (or a transferee), this Agreement, the Franchise or the Business and any person who has any other legal or equitable interest, or the power to vest in himself any legal or equitable interest, in the revenue, profits, rights or assets thereof.
References to a "controlling interest" in you mean thirty three and one-third percent (33.33%) or more of your voting shares or other voting rights if you are a corporation or partnership owned by three (3) or more persons; otherwise, fifty percent (50%) or more of your voting shares or other voting rights will constitute a "controlling interest."
Source: Item 23 — Receipts (FDD pages 43–157)
What This Means (2025 FDD)
According to All County's 2025 Franchise Disclosure Document, the term "Owner" is comprehensively defined. It encompasses any individual or entity holding a direct or indirect, legal or beneficial ownership interest or voting rights in the franchise. This definition extends to anyone with a direct or indirect interest in the franchise agreement, the franchise itself, or the business operations. It also includes those who possess any legal or equitable interest, or the power to acquire such interest, in the revenue, profits, rights, or assets of the All County franchise.
Furthermore, the FDD specifies what constitutes a "controlling interest" in the All County franchise. For corporations or partnerships owned by three or more persons, a controlling interest is defined as 33.33% or more of the voting shares or other voting rights. In other cases, where the corporation or partnership is owned by fewer than three people, a controlling interest is 50% or more of the voting shares or other voting rights.
This broad definition ensures that All County has a clear understanding of who has a stake in each franchise and the extent of their involvement. This information is crucial for maintaining brand standards, ensuring compliance with the franchise agreement, and managing the network of franchisees. Prospective franchisees should carefully review this definition and understand its implications for their ownership structure and any potential transfer of ownership interests.