Deciphering The Franchise Disclosure Document

Everything Aspiring Franchisees Need to Know Before Signing the Dotted Line

On this insightful episode of The Franchise Academy Podcast, host Tom Scarda welcomes Michael Iannuzzi, Certified Public Accountant, Certified Franchise Executive, and Co-Leader of Citrin Cooperman’s Franchising Practice. Together, they demystify one of the most critical documents in the franchise world—the Franchise Disclosure Document (FDD).

Whether you're a first-time franchise buyer or looking to expand your portfolio, this episode will give you a clearer understanding of:

• What audited financial statements in the FDD really mean

• The right questions to ask when your target market isn’t included in Item 19

• Whether unverified information in the FDD holds any value

• How to contact current and former franchisees using the list at the back of the FDD

• Why you should read the FDD multiple times and take notes before making a decision

• How to get Tom’s exclusive FDD Cheat Sheet with over 30 essential questions for franchisees

Michael shares powerful industry insights gained from years of experience working with top franchisors and multi-unit franchisees. You’ll learn how to approach the FDD with confidence, spot red flags, and perform due diligence like a pro.

🎧 Click the link below to listen to the full episode and arm yourself with the knowledge you need to make smart franchise decisions.
Available on Apple Podcasts, Spotify, and all major platforms:

About Michael Iannuzzi
Michael is a CPA and Certified Franchise Executive with deep experience in franchise auditing, performance reporting, and financial disclosure. He’s an active voice in the franchising community, frequently speaking at IFA events, educational podcasts, and industry webinars. As Co-Leader of the Franchising Practice at Citrin Cooperman, he advises franchisors and franchisees across multiple sectors.