If the Hydrodog franchisee is an entity, how often must the statement of ownership be updated?
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 the statement of ownership attached as Attachment B throughout the term of the Franchise Agreement. Hydrodog requires franchisees to provide a copy of any updates to this statement within thirty (30) days of making them.
This requirement ensures that Hydrodog is always aware of the current ownership structure of its franchise businesses. This allows Hydrodog to maintain control over who is involved in the business and to ensure that all owners meet their standards.
For a prospective Hydrodog franchisee, this means that if you operate your franchise through a corporation, LLC, or partnership, you'll need to keep Attachment B updated and promptly submit any changes to Hydrodog within the specified timeframe. Failing to do so could potentially lead to a breach of the Franchise Agreement.