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Payless Car Rental - Uniform Franchise Offering Circular/Franchise Disclosure Document
FranchiseHelp.com, Jan 2010
This report is the Uniform Franchise Offering Circular (UFOC) for Payless Car Rental.
What is a UFOC?
If you appear to be a good candidate for the franchise, the franchisor will send you a UFOC, or 'Uniform Franchise Offering Circular.' This document is required of franchisors by the Federal Trade Commission (FTC) so that certain information can be disclosed to a potential franchisee before a contract can be signed or any payment is made.
What Does It Contain?
The UFOC is a valuable document for prospective franchisees and should be read carefully. It contains 23 items of information.
Standard UFOC Items:
1 The Franchisor, It’s Predecessors And Affiliates
2 Business Experience
3 Litigation
4 Bankruptcy
5 Initial Franchise Fee
6 Other Fees
7 Initial Investment
8 Restrictions On Sources Of Products And Services
9 Franchisee’s Obligations
10 Financing
11 Franchisor’s Obligations
12 Territory
13 Trademarks
14 Patents, Copyrights and Proprietary Information
15 Obligation To Participate In The Actual Operation Of The Franchise Business
16 Restrictions On What The Franchisee May Sell
17 Renewal, Termination, Transfer And Dispute Resolution
18 Public Figures
19 Earnings Claims
20 List Of Outlets
21 Financial Statements
22 Contracts
23 Receipt
How Do I Use It?
The UFOC is similar to a securities prospectus. It can provide the information you need to evaluate a company or to target potential sales clients. An accredited franchise company, whether publicly traded or privately owned, must provide this disclosure document.
The UFOC is most valuable for potential franchisees, potential franchisors, franchisors, investors, financial companies and suppliers to franchisees.
Complete UFOC: Items 1-23, plus franchise agreement and all attachments (Note that a complete UFOC may consist of hundreds of pages. It may include development agreements, lease agreements, etc.).
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