The FDD franchise disclosure document is a required franchise document but it is also a crucial step toward making the franchise take off.
By Fran
Filed under Franchise Articles
When your FDD franchise disclosure document is delivered to the future franchise owner, you are living up to the letter of franchise law. Franchise law is quite picky that when you are ready to set up shop to sell franchises, you have to be ready to deliver a FDD franchise disclosure document within a specified time frame before that big deal finally goes to that big moment of closing and becoming a reality.
When you are required to do something, it is easy to meet the minimum requirements and to pout about it along the way. Well, put that reaction on the shelf because the FDD franchise disclosure document can be a huge key to turning a wide eyed raw recruit into a seasoned old franchising pro in no time. That is because the FDD franchise disclosure document is where the rubber hits the road. It is designed to make sure that all of the behind the scenes details and the insider scoops that the franchise owner must know before plopping down his or her good money to buy your franchise.
Look on the FDD franchise disclosure document like one big training manual that will give the lay of the land to your future franchise owners. Just as the legal pests insist that you get that FDD franchise disclosure document to the franchise owner in time for them to review it, they are accountable for what is in that big document. So by packing it with everything you think is crucial for running one of your franchises, you pass the buck to the franchise owner because they can never say, “But you never told me that!”
Go the extra mile on making the FDD franchise disclosure document a helpful step toward a very successful new franchise owner.
Making the FDD franchise disclosure document a watershed document that allows you to go forward with the franchise arrangement is one of the big values of the document. There is a lot of detailed that franchise law requires that you pack into that document. But instead of just doing the least you can do, take your efforts to the next level. See the FDD franchise disclosure document as your chance to begin molding that new franchise owner into the kind of go getter that will know how to take a franchise and make it a huge success.
There is a window of time when you are required to deliver the FDD franchise disclosure document to the future franchise owner. Instead of barley delivering the FDD franchise disclosure document within the deadline, go above and beyond and have that important document in the hands of your franchise applicants as soon as it is clear that he or she a serious franchise candidate. Go that second mile of being available to discuss and explain to the franchise applicant what is in the FDD franchise disclosure document so that the cycle of using this required franchising document as an educational tool works its magic.