What does the Principal Owners Statement for a Hydrodog franchise need to accurately describe?
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;
Source: Item 23 — RECEIPTS (FDD pages 43–166)
What This Means (2025 FDD)
According to Hydrodog's 2025 Franchise Disclosure Document, if a franchisee is a business organization, the Principal Owners Statement must completely and accurately describe all of the business's owners and their interests in the company. Hydrodog requires this statement to ensure transparency and to have a clear understanding of who owns and controls the franchise.
This requirement means that prospective Hydrodog franchisees operating under a business entity must provide a comprehensive list of all individuals or entities with an ownership stake, detailing the nature and extent of their respective interests. This includes percentages of ownership, voting rights, and any other relevant details that define their involvement in the business.
Furthermore, Hydrodog requires franchisees to revise the Principal Owners Statement as necessary to reflect any ownership changes. These changes cannot be made without Hydrodog's approval. This ensures that Hydrodog always has current and accurate information about the ownership structure of its franchises, allowing them to maintain control and oversight over their brand and operations.