The Franchise and Business Opportunities Project Group has issued guidance regarding franchisors using historical financial performance representations in 2020 considering the significant impact the COVID-19 pandemic has had on many franchise businesses.

Download: Disclosing Financial Performance Representations in the Time of COVID-19

NASAA New Franchise State Cover Sheets Instructions (Adopted May 19, 2019 and Effective January 1, 2020)

2008 Franchise Registration and Disclosure Guidelines

NASAA New Franchise State Cover Sheets Instructions (Adopted May 19, 2019 and Effective January 1, 2020)

NASAA Financial Performance Representation Commentary (Adopted May 8, 2017)

NASAA Franchise Multi Unit Commentary (Adopted Sept. 16, 2014)

NASAA Commentary on 2008 Franchise Registration & Disclosure Guidelines (Adopted April 27, 2009)

NASAA Statement of Policy Regarding the Use of Franchise Questionnaires and Acknowledgements (Adopted September 18, 2022)

NASAA Financial Performance Representation Commentary (Adopted May 8, 2017)

NASAA Franchise Multi Unit Commentary (Adopted Sept. 16, 2014)

NASAA Commentary on 2008 Franchise Registration & Disclosure Guidelines (Adopted April 27, 2009)

State Securities Agencies with Jurisdiction Over Franchise and Business Opportunities

Maryland Interpretive Opinion/No Action Position on Revision to Delivery Requirements Under Maryland Franchise Law (June 15, 2010)

Wisconsin E-Filing Application Update (Dec. 17, 2009)

Washington State Amends Franchise Registration Rules(Nov. 2, 2009)

2022 NASAA Statement of Policy Regarding the Use of Franchise Questionnaires and Acknowledgements

2009 NASAA Statement of Policy: Uniform Franchise Delivery Requirements

2003 Statement of Policy Regarding Electronic Delivery of Franchise Disclosure Documents

2001 Statement of Policy Regarding Franchise Advertising on the Internet

1998 Statement of Policy Regarding Offers of Franchises on the Internet

Model Business Opportunity Sales Act, Adopted May 15, 1984

Model Franchise Investment Act, Adopted August 30, 1990

NASAA Model Franchise Exemptions, Adopted September 9, 2012

Informed Investor Advisory: Franchises

A Consumer’s Guide to Buying a Franchise
(Federal Trade Commission)

1993 Uniform Franchise Offering Circular Guidelines