The Franchise Manual Podcast – Episode #12 – Why Your FDD Sucks
Mike Drumm of Drumm Law in Denver, Colorado tells us why your company’s FDD might suck. He points out issues in an FDD’s content and style that could make or break an FDD’s ability to help you sell your concept to prospective franchisees. Mike gave away most of the company secrets during this interview!
00:00:40 – Podner Introduction
00:02:24 – Segment 1: Get to know Mike Drumm
00:26:34 – Segment 2: Why Your FDD Sucks
00:55:06 – Segment 3: Quick Draw
Mike Drumm Show Notes
Why your FDD might suck:
It’s not written in plain English
You have “over disclosed”
You let your attorney or accountant write the first sentence that describes the concept
You didn’t brand the document
The FDD is not visually attractive and easy to read (pictures, charts, etc)
Item 19 doesn’t tell your story well
It doesn’t use a data sheet
Too many exhibits
Item 7 doesn’t include an average
It includes outdated technology references
During my visit with Mike, we go off topic and discuss some really important topics that every franchisor needs to know.
How to make the delivery of an FDD a memorable experience.