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A: If you plan to sell a franchise in New Jersey, then no, you will not have to pay a franchise registration fee. This is because New Jersey is a franchising non-registration state.
A franchising non-registration state is one that does not require filing or registration to sell franchises in the state. These states require only that the franchisor follows the required Federal Trade Commission (FTC) guidelines.
The Franchise Disclosure Document
When selling a franchise, these guidelines require a Franchise Disclosure Document (FDD), which must be submitted 14 days prior to accepting money or a commitment from a franchisee. You can complete your FDD with the help of a professional New Jersey franchise attorney.
The FDD's purpose is to provide necessary information to the business franchisee, so that they may make an informed decision. Once the FDD is complete, you can submit it to the FCC by electronic delivery system. To do so, you can accept, download, and print the information from any personal computer.
Your signature on this may be accepted in various forms, including passwords and electronic signatures. But before submitting your FDD, you should have it reviewed by a New Jersey franchise attorney. Not only can a New Jersey franchise attorney assist with your New Jersey franchise FDD, they can help you to avoid any mistakes that may cost you time, legal headaches and possibly even revenue.
Contacting a New Jersey Franchise Attorney
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