When operating a Floors To Go franchise, what details about the owners of the franchise must be disclosed?

According to the 2025 Floors To Go Franchise Disclosure Document, if a prospective member has multiple owners or if the franchised business is owned by a business organization such as a corporation, partnership, or limited liability company, they must complete the Principal Owner's Statement. Floors To Go relies on the truth and accuracy of this form when awarding the franchise.

This requirement ensures that Floors To Go has a clear understanding of the ownership structure of each franchise. This is particularly important when the franchise is not directly owned and operated by a single individual, but rather by a more complex business entity. By requiring the Principal Owner's Statement, Floors To Go aims to verify the identity and background of all individuals with a significant ownership stake or controlling interest in the franchise.

For a prospective franchisee, this means that if you are not the sole owner of the business, you will need to provide additional information about the other owners or the business organization that owns the franchise. This may involve disclosing the names, addresses, and ownership percentages of all partners, shareholders, or members. It is crucial to ensure that all information provided in the Principal Owner's Statement is accurate and truthful, as Floors To Go relies on this information when making its decision to award the franchise.

Failure to complete the Principal Owner's Statement accurately and truthfully could potentially lead to legal issues or even the termination of the franchise agreement. Therefore, it is essential to carefully review the requirements of the Principal Owner's Statement and provide all necessary information in a timely and transparent manner.