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What is included in a description of the business?
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.