Franchising Registrations Goes Hi-Tech!

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Well, not in all states. Just in some states. Back in 2008, with the effectiveness of the Amended FTC Franchise Disclosure Rule, many franchisors moved to disclosing and maintaining their Franchise Disclosure Documents [FDD] electronically. But, the embrace for the electronic format has been slow to emerge in the franchise registration process. Sixteen states require the filing of franchise registration or exemptions.
There was a greater lag in the state franchise registration process. The state franchise registration process got stuck pre-2008. Thirteen of the states required the submission of hard copy franchise disclosure documents as part of the franchise registration applications. There was a soft attempt at becoming high tech. Some states began to ask for franchise disclosure documents on CD Rom along with hard copies of the franchise disclosure documents. Who uses CD Roms anymore? That is so yesterday.
Finally, some states are really getting HI-Tech. The states of Minnesota, Rhode Island, Washington and Wisconsin have moved to accepting franchise registration applications online-efiling. The efiling of franchise registrations will eliminate the cost and time expended to deliver huge franchise registration applications to state examiners. It is a happy moment in the franchise world.
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