Defy Franchise Disclosure Documents (FDD)

For analysts, attorneys, journalists, and prospective operators, the Defy FDD is primary-source research: a federally required disclosure running hundreds of pages, updated annually. We carry 4 editions (2018–2022) — available for immediate purchase and download.

A Franchise Disclosure Document (FDD) is the disclosure the Federal Trade Commission's Franchise Rule requires Defy to provide to any prospective franchisee before a sale. Its 23 numbered Items set out the company's history and leadership, initial fees and estimated investment, ongoing obligations, territory terms, any financial performance representation, outlet counts, and financial statements, and the document is refiled each year.