Dealing with the potential of franchising in Georgia can require a lot of detailed planning. Any franchise is a big business investment, so you should have as much information as possible under your belt when making your decisions. We here at Kaufman & Forman, P.C., wish to help you navigate these complex business endeavors.
Entrepreneur states that the definition of a Uniform Franchise Offering Circular, commonly known as a UFOC, is any document that describes the franchising opportunity to potential franchisees. The description must be in depth in order to help all parties involved know what they’re getting into from the start. Sometimes, this document must be sent out before the franchisor and franchisees can even meet. This document must also be delivered before any money is paid, and before any other papers are signed.
This document will cover all questions that you might have about franchising with a particular company. It is supposed to contain 23 specific pieces of information about the company itself. Together, these pieces will help you get a better picture of the workspace, allowing you to get a good understanding of how the company itself works and what kind of environment you can expect to get into. It will also show what kind of franchisee a business looks for, which makes it an invaluable document in determining whether or not to go for a potential contract.
If you would like to read more about the UFOC or other issues or matters related to franchising, please visit our web page. The way to smartly tackle any business situation is by going in armed with as much knowledge as possible.