FDD Disclosure: What a Franchise Disclosure Document Contains and Why It Matters
Warren Team
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Key terms
- FranchiseA business model in which a company (the franchisor) licenses its brand, business systems, and intellectual property to independent operators (franchisees) who pay fees and royalties in exchange for the right to operate under the established brand. Franchising allows entrepreneurs to start a business with a proven model, established brand recognition, and operational support. However, franchisees must follow strict guidelines and share a portion of their revenue with the franchisor.
- Room and BoardThe combined cost of housing and meal plans at a college or university, which is a significant portion of the overall cost of attendance. Room and board costs vary depending on whether you live on campus, off campus, or at home, and the type of meal plan you select. Many colleges require first-year students to live on campus and purchase a meal plan.
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