Describe Yourself

Read this tip to make your life smarter, better, faster and wiser. LifeTips is the place to go when you need to know about Components Of The UFOC and other Franchise topics.

What is included in a description of the business?

Describe Yourself

You will have to disclose a description of yourself in the Uniform Franchise Offering Circular (UFOC). The description requires:

  • Your corporate name
  • State in which you are incorporated
  • Date of incorporation
  • Principal business address
  • Any names under which you legally do business
  • List predecessors and affiliates and an explanation of what services or products your affiliates may offer to your franchisees.
  • A detailed description of your business. At a minimum your business is the offer and sale of franchises. Include a description of the franchise.
Finally, you will also have to specify that there may be competition to the franchise, what regulations apply to the franchise and whether or not you operate businesses of the type to be operated by your franchisee.

   

Comments

Nobody has commented on this tip yet. Be the first.



Name:


URL: (optional)


Comment:


Not finding the advice and tips you need on this Franchise Tip Site? Request a Tip Now!


Guru Spotlight
Sherril Steele-Carlin