Does the Principal Owner's Statement for Hydrodog require the full name of each owner?
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;
- (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);
Source: Item 23 — RECEIPTS (FDD pages 43–166)
What This Means (2025 FDD)
According to Hydrodog's 2025 Franchise Disclosure Document, the Principal Owners Statement must completely and accurately describe all of the business's owners and their interests in the company.
If the franchisee is a business entity, Hydrodog requires that the Principal Owners Statement fully and accurately describe all owners and their ownership interests. Franchisees must revise the Principal Owners Statement to reflect any ownership changes. No ownership changes can occur without Hydrodog's approval.
This requirement ensures Hydrodog knows who owns and controls its franchises. This is a standard practice in franchising, allowing the franchisor to maintain oversight and ensure compliance with the franchise agreement. Prospective franchisees should carefully document all ownership details and be prepared to update this information as needed.