What is it? Why is it important? The Franchise Disclosure Document, or, FDD, is one of the most critical franchise documents to assist you with your franchise decision. The FDD is a legal document, updated annually by the franchisor. It’s required to be presented to a prospective franchisee in the pre-sale disclosure process. The Federal Trade Commission (FTC) rule of …
The History of Franchising
Early franchising dates back to the mid 1850’s when the sewing machine was founded by Isaac Singer. He established the model by allowing door to door salesmen the ability to sell his sewing machine to the end user. The sales person would receive a percentage of the profits from the machine sale and Singer would take a portion, creating the …