What Do I Need To Do To Apply For A Fractional Franchise Exemption In New York?
First understand that if you are going to rely on a fractional franchise exemption, you need to proceed with caution and evaluate a number of factors related to your franchisees, the experience of your franchisees and their sources of revenue. You must also file for this exemption in New York State.
When filing for a fractional franchise exemption in New York the New York State Department of Law requests you submit a check in the amount of $150 made payable to the New York State Department of Law, a sworn written statement from a principal of the franchisor clearly detailing the criteria for the exemption, and a Notice of Appearance Form. Generally, the New York State Department of law will notify the applicant if an exemption submission is incomplete.
Learn more about some of the fractional franchise exemption requirements.
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