February 22, 2017
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Franchise Webcast: NASAA’s FPR Commentary - What Franchisors Need to Know Now

Last week, Gray Plant Mooty attorneys Max Schott, II and Diana Vilmenay presented a webcast on key issues faced by franchisors, with particular emphasis on the NASAA’s forthcoming commentary on financial performance representations (FPRs) in franchise disclosure documents.

Click here to view the presentation slides

Click here to view the supplemental materials

View on YouTube

Issues discussed in the webcast included:

  • New prohibitions and additional disclosure obligations relating to FPRs that contain gross sales and gross profits/net profits of company-owned outlets—by far the most controversial section of the FPR commentary
  • Limited circumstances under which data from company-owned outlets and franchise outlets can be merged in the same FPR
  • Additional FPR disclosure requirements and restrictions, including those relating to averages and medians, subsets, outlets that close within a year of opening, and “managed outlets”

Click here to view the previous Gray Plant Mooty franchise webcast, "Key Considerations for the 2017 Franchise Registration Renewal Season," recorded on January 25.