What is the purpose of the Floors To Go 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, the Principal Owner's Statement is a form that must be completed by a prospective member under specific ownership circumstances. These circumstances include 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 deciding whether to award the franchise to the prospective member.
For a prospective Floors To Go franchisee, this means that if the franchise will have multiple owners or be owned by a business entity, completing the Principal Owner's Statement is a mandatory step in the franchise application process. The accuracy of the information provided is critical, as Floors To Go uses it to evaluate the applicant's suitability for franchise ownership. Failing to complete the form accurately could impact the decision to award the franchise.