What must a Carbones Pizzeria franchisee do if there is a change in the Statement of Ownership and Management?

According to Carbones Pizzeria's 2025 Franchise Disclosure Document, a franchisee must immediately notify the franchisor, M & T Pizza Incorporated, of any changes to the information contained in the Statement of Ownership and Management. Furthermore, upon the franchisor's request, 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 Carbones Pizzeria franchise.

This requirement ensures that Carbones Pizzeria maintains current and accurate records of the ownership and management structure of each franchise location. This is a standard practice in franchising, allowing the franchisor to know who is responsible for the operation and management of each franchise. The Statement of Ownership and Management likely includes details such as the names, addresses, and ownership percentages of all individuals or entities with an ownership stake in the franchise.

For a prospective Carbones Pizzeria franchisee, this means being diligent about reporting any changes in ownership or management to the franchisor promptly. Failure to do so could potentially lead to a breach of the franchise agreement. Additionally, any new owners will be required to sign a Guaranty, which likely holds them personally liable for the franchise's obligations under the franchise agreement. This is a common requirement to ensure that all owners are committed to the success of the franchise and are held accountable for its performance.