If the Crepe De Licious franchisee is a partnership, what information must be provided for each partner?
Crepe_De_Licious Franchise · 2025 FDDAnswer from 2025 FDD Document
ATTACHMENT B TO THE FRANCHISE AGREEMENT
Franchisee: Form of Ownership (Check One) Individual Partnership Corporation Limited Liability Company If a Partnership, provide name and address of each partner showing percentage owned, whether active in management, and indicate the state in which the partnership was formed. If a Corporation, give the state and date of incorporation, the names and addresses of each officer and director, and list the names and addresses of every shareholder showing what percentage of stock is owned by each. If a Limited Liability Company, give the state and date of formation, the name and address of the manager(s), and list the names and addresses of every member and the percentage of membership interest held by each member. State and date formed or incorporated: Management (managers, officers, board of directors, etc.): Name Address Title Members, Stockholders, Partners: Name Address Percentage Owned Franchisee acknowledges this Form of Ownership applies to the Franchised Business authorized under the Franchise Agreement. Use additional sheets if necessary. Any and all changes to the above information must be reported to Franchisor in writing.
Source: Item 22 — CONTRACTS (FDD page 57)
What This Means (2025 FDD)
According to Crepe De Licious's 2025 Franchise Disclosure Document, if the franchisee is a partnership, specific details about each partner must be disclosed to Crepe De Licious. This includes the name and address of each partner, the percentage of ownership held by each, and whether each partner is actively involved in the management of the Crepe De Licious business. The state in which the partnership was formed must also be indicated.
This information is crucial for Crepe De Licious to assess the suitability and stability of the franchise ownership. By understanding the ownership structure, management responsibilities, and financial stakes of each partner, Crepe De Licious can better evaluate the potential for success and ensure compliance with the franchise agreement. This level of transparency is a standard practice in franchising, allowing the franchisor to maintain control and consistency across its network.
The Franchise Agreement includes an attachment (Attachment B) that must be completed to provide this information. Any changes to the provided information must be reported to Crepe De Licious in writing. This ensures that Crepe De Licious has up-to-date records of the franchise's ownership and management structure throughout the term of the agreement.