(757) 354-2167 | Located in Virginia Beach and Smithfield
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Interested in franchising? Not interested in talking to any attorney yet? That's okay. There are many resources available online to utilize in developing an understanding of legal requirements and obligations for franchising.
The core requirements of franchising are outlined in the franchise rule. You can read through the text of the franchise rule. The FTC has also prepared a franchise compliance guideline handbook.
There are a lot of nuances involved in franchise law and franchise law requirements. NASAA has published the Franchise Disclosure Handbook. The handbook goes rule by rule, with examples and commentary for preparing a franchise disclosure document.
Some states impose registration or filing requirement on franchisors. Once you know which states regulate the offer and sale of franchises, you can search for the relevant state code. We have developed a 50 state map and explanation of requirements. We have also prepared a break down of all 50 state's franchise law requirements in chart form (Just scroll to the bottom of the page).
Certain states require franchisors to file and register a copy of the franchise disclosure document in their state prior to offering or selling any franchises in that state. A few states make these filings public. You can search for any franchise offering available in these states and download their disclosure document. You can see what the competition discloses. Use the following:
Wisconsin: https://www.wdfi.org/apps/FranchiseEFiling/default.aspx
Indiana: https://securities.sos.in.gov/public-portfolio-search
Minnesota: https://www.cards.commerce.state.mn.us/CARDS
California: https://docqnet.dfpi.ca.gov/search
(757) 354-2167 | 780 Lynnhaven Pkwy, Ste 400, Virginia Beach, VA 23452