In the Hydrodog Owner's Statement, what information must an individual owner provide when signing?
Hydrodog Franchise · 2025 FDDAnswer from 2025 FDD Document
ou will bear a legend referring to the restrictions of this Agreement; and you will provide us with copies of these documents for our review.
- (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
amendments or modifications thereto. A copy of our current form of Principal Owners Guaranty is attached to the Franchise Disclosure Document; and
- (f) at our request, you will furnish true and correct copies of all documents and contracts governing the rights, obligations and powers of your owners and agents (like articles of incorporation or organization and partnership, operating or shareholder agreements).
- (g) a Principal Owner of your HydroDog Business Entity (defined as a person with at least a twenty percent (20%) ownership interest in you) must: (i) have management responsibility and authority over the "Business" (defined as your HydroDog Business) on a day-to-day basis; (ii) be actively employed on a full-time basis to manage your HydroDog Business's operations; (iii) be present at your HydroDog Business for at least fifty percent (50%) of the hours your HydroDog Business is open to the public for business; (iv) be bound by our then-current form of Confidentiality Agreement (or other form satisfactory to us); and (v) satisfactorily complete our initial training program and any other training programs we request during the Term;
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 a business entity, the Principal Owners Statement must completely and accurately describe all of the business's owners and their interests in the company. The franchisee owners must revise the Principal Owners Statement to reflect any ownership changes. Each owner must sign and deliver Hydrodog's standard form of Principal Owner's Guaranty, agreeing to be bound by all provisions of the Franchise Agreement and any other agreements between the franchisee and Hydrodog.
Furthermore, a Principal Owner (defined as someone with at least 20% ownership) must have management responsibility and authority over the Hydrodog business on a day-to-day basis. They must be actively employed full-time to manage the business's operations and be present at the Hydrodog location for at least 50% of the hours the business is open to the public. The Principal Owner must also be bound by Hydrodog's current Confidentiality Agreement and complete Hydrodog's initial and any other required training programs.
Hydrodog requires these measures to ensure that all owners are fully committed to the business, understand their obligations, and protect Hydrodog's confidential information. This is a fairly standard practice in franchising, as franchisors want to ensure that all parties involved in the business are aligned and accountable.