When you make an investment in Workout Anytime, there will be many important steps and processes along the way as part of your journey toward franchise ownership. There will be phone calls to make and receive, paperwork to fill out, and questions to ask. But perhaps the most important step you’ll take is reading our Franchise Disclosure Document (FDD). Many of the questions you might have will be answered by the FDD, which is why you’ll want to spend at least two weeks going over this critical information carefully, perhaps even with an attorney. But what is an FDD, what are some of the topics it covers, and why is it so important?
A Core Document
A Franchise Disclosure Document is a core document that all franchisors are required to have and that by law must be made available to every serious potential investor. The goal of our FDD is to provide potential franchise-partners with accurate and trustworthy information that they can use to make an educated decision about a Workout Anytime investment. Typically, FDD’s are meant to cover a lot of bases, which means they can sometimes be difficult to get through. That’s why potential franchise-partners must be allowed at least two weeks to familiarize themselves with one before anything can be signed. FDD’s are important because they go over a brand’s history, its finances, the people leading it, as well as a brand’s obligations to its investors. In other words, an FDD lays out clearly what’s expected of you, and what you can expect in return. After you read the Workout Anytime FDD, you should have a very clear picture of what your investment will look like.
History and Support
All FDD’s will include a review of a brand’s history, and this is important because it allows you to learn in more detail about how the franchise came to be, who the major players are behind it, what their work experiences are, and what the operational history is. You’ll also be able to review details about any litigation or bankruptcies that the brand has been involved in.
In addition, you’ll also learn more about one of the biggest benefits of a franchise business — built-in training and support — and the Workout Anytime FDD clearly defines that. Here’s where you’ll get more details about the kind of support you’ll receive before, during, and after you open for business. You’ll also find out about supply sources and get specific information about copyrights and intellectual properties.
What the Investment Looks Like
Perhaps the most important section of any FDD is the section that lays out your financial obligations. This section will list initial fees associated with becoming a franchise-partner, including the franchise fee itself, multi-unit fees, and the cost of necessary supplies and materials. It will also disclose any ongoing fees you’ll be responsible for, including monthly royalty and marketing fees.
An FDD is an important document that helps investors make educated decisions about whether or not to become part of a brand family. We’re proud to say ours is straightforward and transparent, and available to any seriously-minded potential franchise-partner.
If you’d like to learn more about a Workout Anytime franchise opportunity, contact us today.