State Franchise Registration Laws: New Mexico
New Mexico Franchise Registration Status: Non-Registration State
State Registration Fee: $0.00
New Mexico is considered a non-registration state when it comes to franchising. Due to it being a non-registration state there are no special state requirements that need to be fulfilled in order to offer or sell franchises in the state of New Mexico. A person considering franchising there should still take into consideration that while there are no state specific franchise laws in New Mexico there are still federal franchise laws put in place by the Federal Trade Commission that must be followed.
Federal Franchise Registration Laws
At a federal level franchise laws are present regardless of the state that you franchise in. The Federal Trade Commission requires franchisors remain in compliance with the Franchise Rule. An example of one of the requirements for franchise regulation found at a federal level is the 14 day waiting period that must occur between disclosing your franchise disclosure document to a prospect and when the sale can be completed.
Franchising is a great method of growth for some businesses and can bring a company from one level of success to another, however, franchising is not for every business. It is important to properly evaluate your business prior to franchising it. Our firm has a Franchise Compliance Program that is great for new and seasoned franchisors alike. If you are interested in learning more, click here.