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What is a Franchise Disclosure Document and Why is it Important?

The franchise disclosure document (FDD), formerly referred to as the Uniform Franchise Offering Circular (UFOC), is a detailed report that is updated annually with new information for every registered franchise opportunity. The importance of the franchise disclosure document in franchise transactions should not be understated. It is packed full of useful information on the franchise system, including details on franchisee earnings, agreements, contracts and manuals, financial statements and much more. Needless to…

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