What details about ownership interest does Boulder Designs require to be disclosed?
Boulder_Designs Franchise · 2025 FDDAnswer from 2025 FDD Document
YLAND, OR WASHINGTON: DO NOT COMPLETE THIS QUESTIONNAIRE OR TO RESPOND TO ANY OF THE QUESTIONS IN THIS QUESTIONNAIRE.**
As you know, Boulder Designs Franchising, LLC and you are preparing to enter into a Franchise Agreement for the operation of a Franchised Business. In this Franchisee Disclosure Questionnaire, Boulder Designs Franchising, LLC will be referred to as "Boulder Designs", "We" or "Us." The purpose of this Questionnaire is to determine whether any statements or promises were made to you that we did not authorize and that may be untrue, inaccurate or misleading.
| Prospective Franchisee acknowledges: | Date | Initials | ||
|---|---|---|---|---|
| Date you received FDD | / | |||
| a franchise | Date of your first face-to-face meeting with a Boulder Designs Franchising representative for the purpose of discussing the sale or possible sale of | / | ||
| Date you received the Franchise Agreement with all blanks filled in except signatures Date you received a copy of any addendum or additional documents, if any, with all blanks filled in except signatures | / / | |||
| Date you signed the Franchise Agreement | Date you signed any addendum or additional documents | / / | ||
| representative | Earliest date you delivered a check or money to Boulder Designs or its | / | ||
| ACKNOWLEDGMENT REGARDING OWNERSHIP OR OTHER INTEREST | ||||
| is a(n): | Acknowledgment Regarding Controlling Persons. |
Source: Item 22 — CONTRACTS (FDD page 50)
What This Means (2025 FDD)
According to Boulder Designs' 2025 Franchise Disclosure Document, the franchise agreement requires specific disclosures regarding ownership interests. The franchisee must acknowledge the type of entity that owns the franchise, whether it's an individual, corporation, partnership, limited liability company, joint venture, or other business form.
Furthermore, Boulder Designs requires a detailed account of individuals who possess legal or beneficial ownership, or voting control, within the franchise. This includes disclosing the names of these individuals, the type of ownership they hold (legal or beneficial), and the percentage of interest each person owns. This information is crucial for Boulder Designs to understand who ultimately controls and benefits from the franchise.
This level of transparency is typical in franchising, as franchisors need to assess the financial stability, experience, and potential conflicts of interest of all parties involved in the franchise. By requiring disclosure of ownership details, Boulder Designs aims to ensure that all owners are committed to upholding the brand's standards and protecting its confidential information, as outlined in the franchise agreement's guaranty and assumption of obligations.