What is the purpose of the Principal Owner's Statement for a DryJect franchisee?

According to DryJect's 2025 Franchise Disclosure Document, the Principal Owner's Statement serves to provide the franchisor with accurate information about the ownership of the franchise, especially when the franchisee is a business entity with multiple owners. DryJect relies on the truthfulness of this statement when awarding the franchise. This form, included as Addendum D to the Franchise Agreement, is required if the franchisee has multiple owners or if the DryJect Franchised Business is owned by a business organization such as a corporation, partnership, or limited liability company.

The statement ensures that DryJect is aware of all parties involved in the ownership and management of the franchise. This is particularly important because DryJect grants the franchise license based on the personal attributes and trust it places in the individuals who will be actively involved in the business. For business entities, DryJect needs to verify that the entity is newly formed, duly organized, and authorized to conduct business in the relevant jurisdictions.

Furthermore, the Principal Owner's Statement helps DryJect confirm that all individuals with a significant ownership interest (20% or greater) are willing to sign a Guaranty Agreement, ensuring their personal commitment to the franchise's obligations. It also verifies that all shareholders or members will execute and deliver a Confidentiality and Non-Competition Agreement, protecting DryJect's proprietary information and business interests. The statement also confirms that the business entity's sole purpose is the operation of the DryJect franchise and that any changes in ownership require DryJect's prior written consent.