What is the Principal Owner's Statement for a Floors To Go franchise used for?
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, the Principal Owner's Statement is a form that must be completed by a prospective member under specific ownership circumstances. This includes situations where the 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.
The purpose of this statement is to provide Floors To Go, LLC with accurate information about the ownership structure of the franchise. Floors To Go relies on the truthfulness and accuracy of the information provided in this form when making the decision to award the franchise.
In essence, the Principal Owner's Statement serves as a declaration of the ownership structure and ensures that Floors To Go has a clear understanding of who the principals are behind the franchise. This allows Floors To Go to assess the suitability of the ownership and make informed decisions regarding the franchise award.