Does Hydrodog require a franchisee to complete a Principal Owner's Statement describing all owners and their interests?
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);
- (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
Source: Item 15 — OBLIGATION TO PARTICIPATE IN THE ACTUAL OPERATION OF THE FRANCHISE BUSINESS (FDD pages 34–35)
What This Means (2025 FDD)
Yes, according to Hydrodog's 2025 Franchise Disclosure Document, if the franchisee is a business entity, Hydrodog requires a Principal Owners Statement that completely and accurately describes all of the business's owners and their interests in the company. A copy of the current form for this statement is included in the Franchise Disclosure Document.
Hydrodog also requires franchisees to revise the Principal Owners Statement as needed to reflect any ownership changes. These changes cannot be made without Hydrodog's approval. Franchisees must also furnish any other information about the organization or formation of the business as Hydrodog may request.
During the term of the agreement, each owner must sign and deliver Hydrodog's standard form of Principal Owner's Guaranty, which binds them jointly and severally to all provisions of the Franchise Agreement and any other agreements between the franchisee and Hydrodog. A copy of the current form is attached to the Franchise Disclosure Document.