FRANCHISING IN OKLAHOMA
Registration or Filing Required?
No
Business Opportunity Laws?
Yes
Oklahoma is not a franchise registration state nor a franchise filing state, so you may offer or sell your franchise without registering or filing your FDD with the state as long as you are compliant with the FTC Franchise Rule. Oklahoma has enacted a Business Opportunity Sales Act. The Act defines a business opportunity as an agreement where the seller provides the buyer with products, equipment, supplies or services that enable the buyer to start a business, where the seller represents that it will:
- Provide or assist the buyer in finding locations for vending machines, racks, display cases or devices;
- Provide or assist the buyer in finding outlets or accounts for products or services;
- Purchase some or all of the products made by the buyer;
- Guarantee the buyer will derive income exceeding the purchase price;
- Refund some or all of purchase price, or buy back some or all products, if the buyer is dissatisfied; or
- Provide a marketing plan.
The Act applies to business opportunity sales in which the offer to sell is made or accepted in the state. It also applies to situations in which the buyer is a resident of Oklahoma and the business will be operated in Oklahoma. The Act specifically exempts franchises so long as they are in compliance with the FTC Franchise Rule.