Are Floors To Go franchisees required to sign the Principal Owner's Statement?
Floors_To_Go Franchise · 2025 FDDAnswer from 2025 FDD Document
This form must be completed by the prospective member ("I," "me," or "my") if I have multiple owners or if I, or my franchised business, is owned by a business organization (like a corporation, partnership or limited liability company). Floors To Go, LLC is relying on the truth and accuracy of this form in awarding the franchise to me.
Source: Item 22 — CONTRACTS (FDD page 47)
What This Means (2025 FDD)
According to the 2025 Floors To Go Franchise Disclosure Document, whether a franchisee is required to sign the Principal Owner's Statement depends on their ownership structure. The FDD includes Exhibit C, titled "Principal Owner's Statement," along with a note specifying when this form is required.
The Principal Owner's Statement must be completed by the prospective member if they have multiple owners or if the franchised business is owned by a business organization, such as a corporation, partnership, or limited liability company. Floors To Go relies on the truth and accuracy of this form when awarding the franchise.
In practical terms, this means that if you are the sole owner of your Floors To Go franchise and you own it directly as an individual, you may not need to complete this form. However, if you are partnering with others or if your franchise is owned by a company you control, you will be required to complete the Principal Owner's Statement. This is a common practice in franchising, as franchisors need to understand the ownership and management structure of their franchisees to ensure compliance and operational consistency.