[a.w.m.]

I'm in the process of applying for a Franchise and one document they are requesting is a PSF. I understand why a Bank would require that when filling out for a loan, but I'm currious why the Franchisor needs this information. Also by filling this out do I "have" to list everything like house and cars, etc. and if I do how can that be used against me in the event the business flops? In every way possible I want to keep personal from business and from reading on the internet it seems like you would only list what could be used for collateral when filling out for the loan, but I can't find anything about what to include when fillign out for the Franchisor. Nothing really talks about filling out the PSF, but considering that's how you come up with your net worth I would assume that paper would give the franchisor and the bank the right to come after everything that's listed on there in the event of a failed business. Can anyone advise?

[gregmde7]

From what I know I think they can come after everything and that is part of the risk in starting a franchise. I mean I could be wrong, but this is what I heard was the case...