Franchising & Distribution Law Blog

With the COVID-19 pandemic affecting the performance of many businesses in 2020, franchisors are faced with a whole new set of considerations when preparing their 2021 franchise disclosure documents, including whether to include financial performance representations from 2020.

On May 8, 2017, the North American Securities Administrators Association (NASAA) released its final commentary on financial performance representations (FPRs), providing franchisors with additional clarification and guidance on how to prepare one of the most important parts of their franchise disclosure documents (FDDs).