Who must execute the updated or new Statement of Ownership and Management and Guaranty for a Carbones Pizzeria franchise?
Carbones_Pizzeria Franchise · 2025 FDDAnswer from 2025 FDD Document
Franchisee acknowledges that this Statement of Ownership and Management applies to the M & T Pizza Incorporated Franchise Agreement. Franchisee shall immediately notify Franchisor upon any change in the information contained in this Statement of Ownership and Management, and upon request of Franchisor, complete an updated or new Statement of Ownership and Management and Guaranty executed by all owners of Franchisee.
Source: Item 23 — RECEIPTS (FDD pages 30–116)
What This Means (2025 FDD)
According to the 2025 Carbones Pizzeria Franchise Disclosure Document, the franchisee must complete an updated or new Statement of Ownership and Management and Guaranty. This document must be executed by all owners of the franchisee.
This requirement ensures that Carbones Pizzeria has a clear understanding of the ownership structure of each franchise. By requiring all owners to sign the statement, the franchisor can hold each individual accountable for the franchise's operations and adherence to the franchise agreement. This is a common practice in franchising, as it protects the brand and ensures consistency across all locations.
For a prospective Carbones Pizzeria franchisee, this means that if the franchise is owned by multiple individuals or entities, each of those owners will be required to sign the Statement of Ownership and Management and Guaranty. This obligation extends not only to the initial signing of the franchise agreement but also to any updates or changes in ownership that may occur during the term of the agreement. Franchisees should be aware of this requirement and ensure that all owners are prepared to fulfill this obligation.