Deciding to invest in a franchise is a big step in the right direction to a great career. One of the things that now stands between you and your own Spray-Net franchise is the Franchise Disclosure Document (FDD). This document provides you the opportunity to learn more about the brand, its standards, the investment, and other matters that prospective franchisees should know before they sign the franchise agreement. Here is a guide to the FDD for a Spray-Net exterior painting franchise and what you should expect of the brand.
What Is the Franchise Disclosure Document?
The Franchise Disclosure Document is a mandatory 23-itemed document that outlines everything about the franchising brand. It was developed in 1978 by the Federal Trade Commission for the protection of prospective franchisees who may not have done the research or were not provided proper information about their franchisors prior to the investment.
Because this document provides important brand information, investment costs, and other matters like regulations, obligations, and restrictions, it is a document that should be read thoroughly so you know exactly what to expect with your painting franchise.
What Is Included in the Franchise Disclosure Document?
According to Entrepreneur Magazine, the FDD has 23 mandatory items that address a wide variety of things which outline the relationship between the franchisor and the franchisee. Spray-Net’s FDD explains the brand’s involvement, a breakdown of the investment, and the standards expected from every franchisee. The FDD is designed to protect the brand’s integrity and make sure all franchisees understand what that means so they can be sure to align in the same direction and have the same vision as the brand.
When Will I Receive the Franchise Disclosure Document?
Many franchises will withhold it until prospective franchisees make some commitment of following through with a franchise, but Spray-Net likes to think of it as an “open book.” This means that any prospective franchisee or someone who is curious to learn more about the brand can just ask for the FDD and receive it.
This creates a trusting relationship between Spray-Net and anyone interested in a painting franchise because they know when a brand is being transparent and when one has something to hide. By providing the FDD with confidence prior to your decision, we want to show that we care and want all potential franchisees to have the information they need to make a decision.
After taking your time reading the FDD and deciding to move forward with the process, we then have some additional steps to assure you have all the information you need to get started in the home improvement industry with a franchise that is best for you. You will attend have a discovery and validation day with the brand to learn additional facts and procedures, followed by a Zoracle assessment to help get you approved to be awarded a franchise. Once you sign the franchise agreement, you can begin your rewarding career in the home improvement industry with a Spray-Net franchise.
Is the Franchise Agreement the Same as the FDD for a Painting Franchise?
The simple answer is no, it is not. But we extend that open book policy by including the franchise agreement in the FDD so franchisees know exactly what they are signing. Many franchisors will wait until after the prospective franchisee finishes reading the FDD to provide them with the franchise agreement, but Spray-Net does it differently. To uphold the transparency we like to keep with prospective franchisees, we even include the franchise agreement in the FDD. This ensures all information is provided to you, in addition to saving time and resources.
We want to make sure all franchisees know what is entailed with their painting franchise prior to their commitment. By assuring that all franchisee’s understand Spray-Net’s message and vision, there will be better communication and a stronger relationship between both us and the franchisees.
If you would like a copy of our franchise disclosure document, contact us today for the steps on how to receive one.