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As a franchisor in New York, you will be required to provide specific disclosures to potential franchisees. This will include financial information about your business, such as a recent balance sheet. However, a potential investor may ask for more information than is required.
One of the additional things that a potential investor may ask for is an earning claims statement. An earning claims statement is a document that outlines the history and future predictions of your profits, sales and expenses. Again, this information is not required in the Franchise Disclosure Document (FDD), but you may want to make it available to prospective franchisees.
By making your earning claims statement available, you can give potential investors an idea of their projected returns. If an investor asks for this information, and the information is refused, they may suspect that there is something about the franchise that you want to hide.
When preparing an earning claims statement for potential franchisees, you may want to get the professional help of a New York franchise lawyer. An experienced lawyer can review your financial information, and help you prepare your earning claims statement. This will help to give potential franchisees the information they need to feel comfortable investing in your franchise in New York, as well as potentially help prevent future disputes with unsatisfied investors.
Contacting a New York Franchise Lawyer
If you are an entrepreneur who is interested in franchising your business there is a lot you need to know, including the significance of evaluating your trademark and how to approach the preparation of your FDD. For a limited time, get New York franchise lawyer Charles N. Internicola, Esq's franchise law report to determine whether or not your business is right for franchising. Contact us today at 1-800-976-4904 for more information about Mr. Internicola's franchise law services in New York and how he assists entrepreneurs franchise their business nationwide.
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