For Hydrodog franchisees, what information must be included in the list of owners?
Hydrodog Franchise · 2025 FDDAnswer from 2025 FDD Document
- 11.13 Management. If you are an entity, you are required to complete and update, as necessary, the statement of ownership attached hereto as Attachment B throughout the term of this Agreement, and to provide us with a copy of any such updates within thirty (30) days of making them. Your HydroDog Business shall be managed by you, or if you are an entity, by one of your shareholders, partners, or members who is a natural person, holding at least a ten percent (10%) interest in the franchisee entity, and who is designated in writing to us as the person to make all decisions for the franchisee entity and to be principally responsible for communicating with us about your HydroDog Business ("Designated Owner"). Under certain circumstances we may allow you to appoint a designated manager ("General Manager") to run the day-to-day operations of your Franchised Business; the General Manager need not have an ownership interest in the franchisee entity. In addition, if you are an entity, all persons who own twenty percent (20%) or more of the beneficial ownership interests in the entity and each such person's respective spouse shall personally and unconditionally guaranty franchise owner's performance under this Agreement by signing the Owners Agreement attached hereto as Attachment D. The Designated Owner shall have the authority to speak for and bind the franchise owner in all matters pertaining to this Agreement, and all matters relating to your HydroDog Business.
Source: Item 23 — RECEIPTS (FDD pages 43–166)
What This Means (2025 FDD)
According to Hydrodog's 2025 Franchise Disclosure Document, if the franchisee is an entity, they must complete and update a statement of ownership (Attachment B) throughout the term of the Franchise Agreement. Any updates to this statement must be provided to Hydrodog within 30 days of the change.
Furthermore, Hydrodog requires that if the franchisee is an entity, one of the shareholders, partners, or members must be a natural person holding at least a 10% interest in the franchisee entity. This person must be designated in writing to Hydrodog as the individual responsible for making all decisions for the franchisee entity and for communicating with Hydrodog about the Hydrodog Business. This person is referred to as the 'Designated Owner'.
In addition, all persons who own 20% or more of the beneficial ownership interests in the entity, along with each such person's spouse, must personally and unconditionally guarantee the franchise owner's performance under the Franchise Agreement by signing the Owners Agreement (Attachment D). This ensures that individuals with significant ownership have a direct stake in the success and compliance of the Hydrodog franchise.