What is a Principal Owner's Statement for Floors To Go franchisees?
Floors_To_Go Franchise · 2025 FDDAnswer from 2025 FDD Document
PRINCIPAL OWNER'S STATEMENT MEMBERS
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. Floors To Go relies on the accuracy of this form when awarding the franchise.
The FDD indicates that the Principal Owner's Statement is included as Exhibit C. Additionally, Schedule C references Exhibit C for the Principal Owner's Statement. This statement is important because it provides Floors To Go with detailed information about the ownership structure of the franchise, which helps them assess the stability and suitability of the ownership team.
Prospective franchisees should ensure that they complete this form accurately and thoroughly if their ownership structure falls under the described conditions. Failure to do so may affect the awarding of the franchise. It is advisable to review the requirements for the Principal Owner's Statement carefully and seek legal counsel if needed to ensure full compliance with Floors To Go's requirements.