Can the Carbones Pizzeria franchisor request an updated Statement of Ownership and Management from the franchisee?
Carbones_Pizzeria Franchise · 2025 FDDAnswer from 2025 FDD Document
ear from the date of this Agreement. However, Franchisee may not commence operation of the Restaurant until Franchisee has satisfied all conditions set forth in this Agreement required to be satisfied by Franchisee prior to opening. If Franchisee fails to timely open the Restaurant, Franchisor may terminate this Agreement and retain all amounts Franchisee has paid to Franchisor or its affiliates.
- c. At the time this Agreement is executed by Franchisee, Franchisee shall complete the Statement of Ownership and Management attached hereto as Exhibit B, and, if Franchisee is a corporation, partnership, or limited liability company, each owner as of
the date hereof along with their spouse, as well as any future owners and their spouses, must sign Franchisor's then-current Guaranty at the time such individual becomes an owner of Franchisee
Source: Item 23 — RECEIPTS (FDD pages 30–116)
What This Means (2025 FDD)
According to Carbones Pizzeria's 2025 Franchise Disclosure Document, the franchisor can request an updated Statement of Ownership and Management from the franchisee. 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 Guaranty.
The franchisee must immediately inform Carbones Pizzeria of any changes to the information provided in the Statement of Ownership and Management. Furthermore, Carbones Pizzeria can request the franchisee to provide an updated Statement of Ownership and Management at any time.
This requirement ensures that Carbones Pizzeria has current information about the ownership and management structure of each franchise location. This allows Carbones Pizzeria to maintain accurate records and ensure that all owners are aware of their obligations under the Franchise Agreement.