What is the role of the Minnesota Department of Commerce, Securities-Franchise Registration regarding Better Blend?
Better_Blend Franchise · 2024 FDDAnswer from 2024 FDD Document
| State | State Administrator | Agent for Service of Process (if | |
|---|---|---|---|
| different from State Administrator) | |||
| Minnesota | Minnesota Department of Commerce | Commissioner of Commerce | |
| Securities-Franchise Registration | Minnesota Department of Commerce | ||
| 85 7th Place East, Suite 280 | 85 7th Place East, Suite 280 | ||
| St. Paul, MN 55101-2198 | St. Paul, MN 55101-2198 | ||
| (651) 539-1500 | (651) 539-1500 |
THESE FRANCHISES HAVE BEEN REGISTERED UNDER THE MINNESOTA FRANCHISE ACT. REGISTRATION DOES NOT CONSTITUTE APPROVAL, RECOMMENDATION OR ENDORSEMENT BY THE COMMISSIONER OF COMMERCE OF MINNESOTA OR A FINDING BY THE COMMISSIONER THAT THE INFORMATION PROVIDED HEREIN IS TRUE, COMPLETE AND NOT MISLEADING.
THE MINNESOTA FRANCHISE ACT MAKES IT UNLAWFUL TO OFFER OR SELL ANY FRANCHISE IN THIS STATE WHICH IS SUBJECT TO REGISTRATION
WITHOUT FIRST PROVIDING TO THE PROSPECTIVE FRANCHISEE, AT LEAST 7 DAYS PRIOR TO THE EXECUTION BY THE PROSPECTIVE FRANCHISEE OF ANY BINDING FRANCHISE OR OTHER AGREEMENT, OR AT LEAST 7 DAYS PRIOR TO THE PAYMENT OF ANY CONSIDERATION, BY THE FRANCHISEE, WHICHEVER OCCURS FIRST, A COPY OF THIS PUBLIC OFFERING STATEMENT, TOGETHER WITH A COPY OF ALL PROPOSED AGREEMENTS RELATING TO THE FRANCHISE. THIS PUBLIC OFFERING STATEMENT CONTAINS A SUMMARY ONLY OF CERTAIN MATERIAL PROVISIONS OF THE FRANCHISE AGREEMENT. THE CONTRACT OR AGREEMENT SHOULD BE REFERRED TO FOR AN UNDERSTANDING OF ALL RIGHTS AND OBLIGATIONS OF BOTH THE FRANCHISOR AND THE FRANCHISEE.
Source: Item 23 — RECEIPTS (FDD pages 43–157)
What This Means (2024 FDD)
According to Better Blend's 2024 Franchise Disclosure Document, the Minnesota Department of Commerce, Securities-Franchise Registration is the state administrator for franchise registration in Minnesota. The Department's address is 85 7th Place East, Suite 280, St. Paul, MN 55101-2198, and its phone number is (651) 539-1500. The Commissioner of Commerce also has the same address and phone number and serves as the agent for service of process in Minnesota.
Better Blend franchises have been registered under the Minnesota Franchise Act. However, the FDD explicitly states that registration does not imply approval, recommendation, or endorsement by the Commissioner of Commerce of Minnesota. Furthermore, registration does not mean the Commissioner has verified the truthfulness, completeness, or lack of misleading information in the FDD.
The Minnesota Franchise Act prohibits offering or selling any franchise in the state that is subject to registration without first providing the prospective franchisee a copy of the public offering statement (Franchise Disclosure Document) and all proposed agreements relating to the franchise. This must be done at least 7 days before the franchisee executes any binding agreement or pays any consideration, whichever occurs first. The FDD itself is only a summary of certain material provisions of the franchise agreement, and franchisees should refer to the actual contract for a complete understanding of their rights and obligations.