What information regarding ownership does Boulder Designs require the franchisee to acknowledge?
Boulder_Designs Franchise · 2025 FDDAnswer from 2025 FDD Document
| 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. Franchisee hereby acknowledges that Franchise Owner | |||
| Individual | Corporation | |||
| Partnership | Limited Liability Company | |||
| Joint Venture | Other business form | |||
| beneficially, voting control of Franchise Owner: | (describe) Franchise Owner hereby warrants and represents that the following persons own, either legally or | |||
| NAME | TYPE OF OWNERSHIP (LEGAL OR BENEFICIAL) | PERCENTAGE OF INTEREST OWNED |
Source: Item 22 — CONTRACTS (FDD page 50)
What This Means (2025 FDD)
According to Boulder Designs' 2025 Franchise Disclosure Document, prospective franchisees must acknowledge details regarding ownership or controlling persons. Specifically, the franchisee must indicate the type of entity that will own the franchise, such as an individual, corporation, partnership, or limited liability company.
Furthermore, if the Franchise Owner is not an individual, the franchisee must identify the persons who own a legal or beneficial interest in the Franchise Owner, including their names, the type of ownership (legal or beneficial), and the percentage of interest owned. This ensures Boulder Designs knows who the controlling parties are within the franchise.
This acknowledgment is crucial for Boulder Designs to understand the structure and control of each franchise location. It allows them to identify the individuals responsible for the franchise's operations and compliance with the franchise agreement. This requirement is a standard practice in franchising, as franchisors typically need to know who the controlling parties are for legal and operational reasons.