Give disclosure review room on the calendar

Preserve what you received

Keep the complete disclosure package, attachments, receipt information and delivery date. Identify the issuing entity and the document’s date. If a replacement or amendment arrives, retain the earlier version as well. A clear record makes it easier for counsel to identify what changed and which version applies.

The FTC’s Franchise Rule establishes a federal disclosure process, including a minimum 14-calendar-day period before a prospective franchisee signs a binding agreement or pays the franchisor or its affiliate in connection with the proposed sale. Applicability, exemptions, state requirements and the counting of particular dates should be reviewed with a franchise attorney.

Do not turn a minimum into a deadline

A waiting period does not mean that every buyer can finish meaningful review within that time. Schedule adviser conversations, owner calls and follow-up questions according to the complexity of the transaction. Ask what happens if you need additional time before deciding.

The FTC’s FAQs also discuss circumstances involving material unilateral changes to agreements and an additional review period. Do not guess whether an edited provision triggers a requirement. Give counsel the actual documents and the sequence of changes.

Keep commitments visible

Track proposed deposits, signatures, travel and site commitments separately. A salesperson’s preferred timetable is not a substitute for an independent review plan. The useful result is a calendar that shows what has been disclosed, what remains unanswered and which actions should wait for advice.

Put it on paper

• Save complete dated disclosure versions.
• Have counsel check timing and applicable requirements.
• Allow enough time for unresolved questions.

Continue with the franchise research checklist, our FDD guide, and the research directory.