What is the UFOC, or Disclosure Document?
The Uniform Franchise Offering Circular (UFOC) is a legally required document that a Franchisor must give to the person/party considering purchasing a franchise at least 10 days prior to any singing of contracts. It contains extensive information about the franchise, such as: • Past experiences and history of the franchise and franchise executives. • Names, addresses and telephone numbers of other Franchisees (both current and former). • The responsibilities of both the Franchisee and the Franchisor once under contract. • Any litigation history. • Financial statement (fully audited). • The cost and fees required to start and upkeep the business. • For a detailed outline the UFOC, please click here.
