If you are inexperienced with the franchising process, you might not know about some of the onboarding documents that you are required for you to examine before your investment. One of these documents includes the Franchise Disclosure Document (FDD) which is given to the franchisee to ensure they are entirely educated on the opportunity pre-sale. This is standard practice across franchises, even industrial franchises like PIRTEK USA. When you review this document for the first time, going in with an inquisitive mind will help you discover answers about the experience you can’t find anywhere else.
What is the background of my franchisors?
To make sure you are backing the best possible team, it is essential to discover more about the backgrounds of your franchisors. What kind of experience do they come from? Have their executives had experience owning their own PIRTEK business? Investors want to get to know the execs behind the big brand name, discover their backgrounds, and see how those have helped them build an understanding of the best ways to support their new business owners.
For PIRTEK, a lot of individuals with the most say in our company have spent decades working with our brand and aren’t just hopping on board because it’s an exciting opportunity. They’ve helped in the growth of PIRTEK. Our team is truly a family and in Item 2 of our FDD, you will get to know a little bit more about them.
What is the definition of my role? What am I expected to do every day?
Our industrial franchise opportunity is so appealing because, for our franchisees, a PIRTEK location is an exciting entrepreneurial escape from the dull and demanding corporate world. That being said, franchise experiences may vary in terms of the level of involvement, day-to-day responsibilities, and much more. If you are looking for the answers regarding what is expected from your new-found role, the FDD includes useful information regarding that transition.
Portions of the PIRTEK FDD, such as Item 9, give incredible insight into what you can expect from your role as an owner of an industrial franchise. We put together a table of what should be on your radar in terms of obligations, which could vary depending on your investment size and other unique circumstances. And if you still have questions about the logistics of your role, we are open to answer any and all of your questions.
Does the FDD include an Item 19?
Well first, let’s define what Item 19 includes. To build an understanding of the success of existing locations, a franchise company is given the opportunity to share some of the performance records in Item 19 of the FDD. This portion is optional, but it does give some insight into the potential for success of one or even multiple locations.
Although it is optional, we want to help franchisees to make the best-educated career decision they can prior to hopping on board. That’s why Item 19 is included in our FDD for interested candidates to evaluate.
If you would like to request a copy of the PIRTEK’s FDD or would simply like to get in touch with one of our industrial franchise experts, contact us today.