What are the reporting obligations of franchisors?

In Florida, franchisors have certain reporting obligations that must be met in order for the franchise to remain in compliance with the law. These obligations include registering the franchise with the Department of State, filing a Franchise Disclosure Document (FDD) with the state, providing prospective franchisees with the FDD for review, and providing franchisees with an updated FDD if the franchisor makes any changes to the franchise agreement. Additionally, franchisors must provide yearly financial statements to their franchisees and witness their signature on the franchise agreement. Franchisors must also provide prospective franchisees with a franchise disclosure document that includes information about the franchisor, including financial information and past litigation history. Furthermore, franchisors should provide franchisees with a copy of the franchise agreement prior to signing and notify them of all fees and costs associated with the franchise. Finally, franchisors have an obligation to provide ongoing support and assistance to their franchisees. This can include providing access to marketing materials, training, and other resources to help franchisees succeed in their business operations. Franchisors should also provide ongoing customer service support to their franchisees and be available to answer any questions they may have.

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What are the reporting obligations of franchisors?

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