Any estimation or projection of franchisee earnings, proforma statement, or break even statement prepared for presentation to prospective franchisees or subfranchisors shall include a statement setting forth the assumptions or data upon which the estimations or projections are based. This statement should clearly indicate such information as the number of operations involved, the length of time the operations were in business, the period covered by the data, and the ownership status of the operations (purely franchised versus owned, operated, or controlled by the franchisor). All such estimations or projections shall indicate the percentage of the franchises not owned, controlled, or operated by the franchisor that were in operation during the entire preceding 12-month period that have, to the franchisor's knowledge, actually attained or surpassed that estimated or projected level.
MS s 80C.18
September 14, 2007