Understanding The FDD And Franchise Agreement

Welcome to the Franchise Founders Podcast. We are on a mission to help aspiring entrepreneurs just like you take action through franchise ownership allowing you to obtain more financial freedom, time with family, and ultimately, a business that can run on its own without you.Dan Claps has co-founded several franchise development firms and currently runs The Franchise Playbook. Christian Dadulak is a successful Franchise Consultant and runs his independent Franchise Consulting business, The Franchise Guys. In this episode, Dan and Christian talk about the Franchise Disclosure Document whose purpose is to protect the franchisee by spelling out the terms of the agreement and what's expected from all parties. The FDD empowers prospective franchise buyers by giving them all of the information at their fingertips that allows them to make a more informed decision before committing to anything. Although the terms should be clear, it's recommended that it's examined by a franchise attorney before anyone signs it. It gives a clear picture of the business and holds the franchisor accountable for any promises and obligations. Tune in as Dan and Christian discuss the aspects that every entrepreneur should know before considering any franchise.