Does the Hydrodog FDD include a copy of the proposed Principal Owner's Statement?
Hydrodog Franchise · 2025 FDDAnswer from 2025 FDD Document
- (c) the Principal Owners Statement will completely and accurately describe all of your owners and their interests in you. A copy of our current form of Principal Owners Statement is attached to the Franchise Disclosure Document you were furnished;
- (d) you and your owners agree to revise the Principal Owners Statement as may be necessary to reflect any ownership changes and to furnish such other information about your organization or formation as we may request (no ownership changes may be made without our approval);
- (e) each of your owners during the Term will sign and deliver to us our standard form of Principal Owner's Guaranty undertaking to be bound jointly and severally by all provisions of this Agreement and any other agreements between you and us, and any
Source: Item 22 — CONTRACTS (FDD page 43)
What This Means (2025 FDD)
According to Hydrodog's 2025 Franchise Disclosure Document, a copy of the current form of the Principal Owners Statement is attached to the Franchise Disclosure Document. This statement is important because it completely and accurately describes all of the owners of the business entity and their interests in the company.
For a prospective Hydrodog franchisee, this means that if you are operating as a business entity, you must provide a complete and accurate Principal Owners Statement. This document ensures that Hydrodog has a clear understanding of the ownership structure of your franchise. Any changes to the ownership must be reflected by revising the Principal Owners Statement, and these changes are subject to Hydrodog's approval.
Furthermore, each owner must sign and deliver Hydrodog's standard form of Principal Owner's Guaranty, which binds them jointly and severally to all provisions of the Franchise Agreement. This guaranty is also attached to the Franchise Disclosure Document. This requirement ensures that all owners are committed to upholding the obligations outlined in the agreement and provides Hydrodog with recourse should the franchisee fail to meet its obligations.