If requested, to whom must a Belocal franchisee's list of owners be made available?

According to Belocal's 2025 Franchise Disclosure Document, a franchisee must provide its list of owners to Belocal if requested. This requirement applies whether the franchisee is a corporation, partnership, limited liability company, or other legal entity. If the franchisee is a corporation, they must maintain a current list of all owners of record and all beneficial owners of any class of equity securities. If the franchisee is a partnership, limited liability company, or other form of legal entity, they must maintain a current list of all owners of an interest in the respective entity.

This provision enables Belocal to maintain oversight and control over the ownership structure of its franchises. By requiring franchisees to disclose and keep current lists of their owners, Belocal can ensure compliance with the franchise agreement and other company policies. This also allows Belocal to monitor for any potential conflicts of interest or unauthorized transfers of ownership.

For a prospective franchisee, this means that if you own a Belocal franchise through a corporation, partnership, or other legal entity, you must be prepared to disclose the identities of all owners to Belocal upon request. This is a standard practice in franchising, as franchisors typically want to know who is ultimately behind the ownership of each franchise location. Franchisees should ensure they have a system in place to maintain an accurate and up-to-date list of owners to comply with this requirement.