What is the Byrider standard regarding disclosing information to customers during the closing process?
Byrider Franchise · 2025 FDDAnswer from 2025 FDD Document
If Byrider Franchising Partners, LLC offers you a franchise, it must provide this Disclosure Document to you 14 calendar days before you sign a binding agreement with, or make a payment to, Byrider Franchising Partners, LLC, or any affiliate in connection with the proposed franchise sale. Under Iowa law, we must give you this Disclosure Document at the earlier of our 1st personal meeting or 14 calendar days before you sign an agreement with, or make a payment to, us or an affiliate in connection with the proposed franchise sale. Under Michigan law, we must give you this Disclosure Document at least 10 business days before the execution of any binding franchise or other agreement or the payment of any consideration, whichever occurs first. Under New York law, we must provide this Disclosure Document at the earlier of the 1st personal meeting or 10 business days before you sign a binding agreement with, or make a payment to, us or an affiliate in connection with the proposed franchise sale.
IF YOU LEARN THAT ANYTHING IN THIS FRANCHISE DISCLOSURE DOCUMENT IS UNTRUE, CONTACT THE FEDERAL
TRADE COMMISSION AND THE APPROPRIATE STATE OR PROVINCIAL AUTHORITY. BYRIDER FRANCHISING PARTNERS MAY, IF IT CHOOSES, NEGOTIATE WITH YOU ABOUT ITEMS COVERED IN THE FRANCHISE DISCLOSURE DOCUMENT. HOWEVER, BYRIDER FRANCHISING PARTNERS CANNOT USE THE NEGOTIATING PROCESS TO PREVAIL UPON A PROSPECTIVE FRANCHISEE TO ACCEPT TERMS WHICH ARE LESS FAVORABLE THAN THOSE SET FORTH IN THIS FRANCHISE DISCLOSURE DOCUMENT.
- 7.18 Information Security. The Franchisee must implement all administrative, physical and technical safeguards necessary to protect any information that can be used to identify an individual, including names, addresses, telephone numbers, e-mail addresses, employee identification numbers, signatures, passwords, financial information, credit card information, biometric or health data, government-issued identification numbers and credit report information ("Personal Information") in accordance with applicable law and industry best practices. It is entirely the Franchisee's responsibility (even if the Company provides the Franchisee with any assistance or guidance in that regard) to confirm that the safeguards the Franchisee uses to protect Personal Information comply with all applicable laws and industry best practices related to the collection, access, use, storage, disposal and disclosure of Personal Information. If Franchisee becomes aware of a suspected or actual breach of security or unauthorized access involving Personal Information, the Franchisee will notify the Company immediately and specify the extent to which Personal Information was compromised or disclosed. The Franchisee also agrees to follow the Company's instructions regarding curative actions and public statements relating to the breach. The Franchisee must comply with the Company's privacy policy, as it may be amended periodically. The Franchisee further agrees to comply with any requests to return or delete Personal Information, whether requested by the Company or directly by a consumer, as required by applicable data sharing and privacy laws**.**
Source: Item 23 — Receipts (FDD pages 88–335)
What This Means (2025 FDD)
The 2025 Byrider Franchise Disclosure Document emphasizes the importance of providing prospective franchisees with necessary information and protecting customer data. Byrider must provide the FDD to potential franchisees at least 14 calendar days (or 10 business days in Michigan and New York) before signing any binding agreement or making a payment. This allows franchisees ample time to review the document and seek advice. The FDD also states that Byrider franchisees in New York cannot be pressured into accepting terms less favorable than those outlined in the FDD during negotiations.
Furthermore, Byrider franchisees are obligated to protect customer's personal information, implementing administrative, physical, and technical safeguards to prevent unauthorized access, use, or disclosure. This includes names, addresses, financial information, and credit data. Franchisees must also inform Byrider immediately of any suspected or actual data breaches and follow the company's instructions for corrective actions and public statements.
These measures ensure transparency and protect both the franchisee and the customer. Byrider aims to maintain a standard of compliance and ethical conduct in its franchise operations, safeguarding sensitive information and providing a fair and informative process for new franchisees.