If the Hydrodog franchisee is a limited partnership, is the Principal Owner's Statement required?

According to Hydrodog's 2025 Franchise Disclosure Document, if the franchisee is a limited partnership, the Principal Owner's Statement is required. The document specifies that if the franchisee has multiple owners or is owned by another business organization such as a partnership, the Principal Owner's Statement must be completed. Hydrodog relies on the accuracy of this form when awarding the Franchise Agreement.

This requirement ensures that Hydrodog has a clear understanding of the ownership structure of its franchisees, especially when the franchisee is a business entity with multiple owners. The Principal Owner's Statement provides Hydrodog with information about all the owners and their respective interests in the franchise. This allows Hydrodog to assess the qualifications and backgrounds of all individuals involved in the ownership of the Hydrodog business.

Furthermore, Hydrodog requires that the Principal Owner's Statement be kept up-to-date to reflect any changes in ownership. This is to ensure that Hydrodog always has current information about the individuals who own and control the franchise. Additionally, each owner may be required to sign a Principal Owner's Guaranty, binding them to the Franchise Agreement.

In summary, the Principal Owner's Statement is a critical document for Hydrodog when the franchisee is a limited partnership or any other business entity with multiple owners. It allows Hydrodog to maintain oversight of the franchise's ownership and ensure that all owners meet the franchisor's standards.