What information about the owners must a Floors To Go franchisee provide?
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 23 — RECEIPTS (FDD pages 47–204)
What This Means (2025 FDD)
According to the 2025 Floors To Go Franchise Disclosure Document, if a prospective franchisee has multiple owners or if the franchised business is owned by a business organization, the franchisee must complete the Principal Owner's Statement form. Floors To Go relies on the truth and accuracy of this form when awarding the franchise.
This requirement ensures that Floors To Go has detailed information about the individuals or entities that will own and operate the franchise. This allows Floors To Go to assess the suitability and financial stability of the ownership structure. The form likely requests information such as the legal names, addresses, ownership percentages, and financial backgrounds of all principal owners.
Prospective franchisees should carefully and accurately complete the Principal Owner's Statement, as Floors To Go will use this information to make its decision on awarding the franchise. Any misrepresentation or omission could potentially lead to the termination of the franchise agreement. Franchisees should consult with legal and financial advisors to ensure full compliance with this requirement.