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Steak N Shake Operations - Uniform Franchise Offering Circular/Franchise Disclosure Document Product Image

Steak N Shake Operations - Uniform Franchise Offering Circular/Franchise Disclosure Document

  • ID: 650699
  • October 2010
  • FranchiseHelp.com

What is a UFOC/FDD, Uniform Franchise Offering Circular / Franchise Disclosure Document?

The UFOC/FDD was a response to some unethical behavior in the 1960s and 1970s. Today franchises are regulated by law. The Federal Trade Commission (FTC) requires that certain information be disclosed to potential franchisees before a contract can be signed or any payment made. The information is presented to the prospective franchisee in the form of a document -- the UFOC/FDD.

Franchise Registration States

The FTC requires franchisors in every state to provide a UFOC/FDD. In addition, some states require that the offering must first be approved and registered by the state before it can be promoted to prospective franchise buyers. These states include: California, Hawaii, Illinois, Indiana, Maryland, Michigan, Minnesota, New York, North Dakota, Oregon, Rhode Island, South Dakota, Virginia, Washington, and Wisconsin. Certain states, such as Illinois and Minnesota, have even more stringent requirements for the franchisor. This in turn affords better protection for the prospective franchisee.

What Does the Franchise UFOC/FDD Contain?

The UFOC/FDD contains 23 items READ MORE >

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