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0-9 A B C D E F G H I J K L M N O P Q R S T U V W X Y Z

Uniform Franchise Offer Circular
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Understanding The Uniform Franchise Offer Circular

The Uniform Franchise Offer Circular (UFOC) was adopted by the North American Securities Administrators Association (NASAA) in 1993, which was later approved by the Federal Trade Commission (FTC) in 1995. Registration States, which require franchisors to use the UFOC (versus the Franchise Rule) include, California, Illinois, Indiana, Maryland, Minnesota, New York, North Dakota, Rhode Island, South Dakota, Virginia and Washington. Since the Registration States do not accept the Franchise Rule, which is less strict than the UFOC, the usage of the UFOC is more widely used. The Federal Trade Commission requires that a UFOC or FTC disclosure document be used in all non-registration states.

In the Uniform Franchise Offer Circular, there are 23 categories of information that must be provided by the franchisor to the prospective franchisee. This information must be provided to the prospective franchisee at least 10 business days prior to the signing of the franchise agreement. These 23 categories include:
  • Cover Page
  • The Franchisor, Its Predecessors and Affiliates
  • Business Experience
  • Litigation
  • Bankruptcy
  • Initial Franchise Fee
  • Other Fees
  • Initial Investment
  • Restrictions on Sources of Products
  • Franchisee's Obligations
  • Financing
  • Franchisor's Obligations
  • Territory
  • Trademarks
  • Patents, Copyrights, and Proprietary Information
  • Obligation to Participate in the Actual Operation of the Franchised Business
  • Restrictions on What the Franchisee May Sell
  • Renewal, Termination, Transfer, and Dispute Resolution
  • Public Figures
  • Earnings Claims
  • List of Franchise Outlets
  • Financial Statements
  • Contracts
  • Receipt

Note: One important thing to note is that while the UFOC is required by law, no legal body has reviewed its contents to ensure its accuracy, which is why you should retain an experienced franchise lawyer to review everything.

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