What is the time frame involved in offering the franchise for sale in the State of Michigan?
- United States
- 07/16/2002
- Frank, Haron, Weiner and Navarro P.L.C.
Most of the time spent on offering a franchise for sale in the State of Michigan will involve drafting the disclosures required under Michigan law and/or federal regulations.
The actual time involved in filing a registration with the Michigan Department of Attorney General is minimal, maybe a couple of weeks at most. However, it can take a substantial amount of time to draft the required disclosure documents so that they comply with Michigan law and/or federal regulations before they are distributed to prospective franchisees.
However, if you already have a Uniform Franchise Offering Circular prepared that you are currently using to offer franchises to prospective franchisees in other states, and this Uniform Franchise Offering Circular complies with federal regulations, the time spent drafting disclosure documents would be reduced substantially.
