What is the Carbones Pizzeria franchisee's obligation regarding the Statement of Ownership and Management?
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.
FRANCHISOR: M & T Pizza Incorporated IF CORPORATION, LLC, OR PARTNERSHIP: FRANCHISEE: Title: IF INDIVIDUAL: FRANCHISEE:
Source: Item 23 — RECEIPTS (FDD pages 30–116)
What This Means (2025 FDD)
According to the 2025 Carbones Pizzeria Franchise Disclosure Document, franchisees have specific obligations regarding the Statement of Ownership and Management. At the time the Franchise Agreement is executed, the franchisee must complete the Statement of Ownership and Management. If the franchisee is a corporation, partnership, or limited liability company, each owner and their spouse must sign the franchisor's current Guaranty form when they become an owner.
The franchisee is required to immediately inform Carbones Pizzeria of any changes to the information provided in the Statement of Ownership and Management. Furthermore, Carbones Pizzeria retains the right to request an updated Statement of Ownership and Management from the franchisee at any time.
This requirement ensures that Carbones Pizzeria maintains current and accurate records of the ownership and management structure of each franchise location. This is a fairly standard practice in franchising, as franchisors need to know who is responsible for the operation and management of their franchised businesses. For a prospective franchisee, this means being prepared to provide this information upfront and to keep it updated throughout the term of the franchise agreement.