Frequently Asked Questions
A business opportunity is an arrangement in which a person sells or leases a product, equipment, supply, or service for a payment of at least $500, for the purpose of enabling the buyer or lessee to start a business, and in which the person makes certain representations to the buyer or lessee. Please read the legal definition in the Business Opportunity Disclosure Act (BODA). Utah Code § 13-15-102(1) .
A business opportunity does not include:
- the sale of an ongoing business when the owner sells and intends to sell only that one business;
- not-for-profit sale of sales demonstration equipment, materials, or sample for a total price of $500 or less.
The Business Opportunity Disclosure Act (BODA) requires sellers of a business opportunity to annually obtain a proof of disclosure receipt from the division. To obtain the proof of disclosure receipt, a seller must submit a form and certain documentation in accordance with Utah Code § 13-15-202 and division rule, and pay a fee. Click here to download the filing form .
BODA also requires a seller of a business opportunity to provide to consumers the information filed with the division prior to entering into a transaction. BODA refers to this as a seller's "disclosure statement."
Yes. A seller of a business opportunity is required to annually file specific information with the division. The seller's disclosure statement must include a financial statement from the seller that is fewer than 13 months old.
If there is any material change in the information submitted to the division, a seller must amend the information by filing the new or correct information with the division within 30 days of the change. A "material change" means any change in information that a person of ordinary intelligence or prudence would consider important in determining whether or not to purchase an assisted marketing plan, or any change to information required by Utah Code § 13-15-202 .
Before a person offers for sale or sells a franchise to be located in Utah or to a resident of Utah, the person must obtain a proof of notice receipt from the Division. To obtain a proof of notice receipt, a franchisor must submit a proof of notice filing to the Division online and pay a fee. Utah Code § 13-15-201(2) . You can renew or file an initial registration by visiting https://dcp.utah.gov/businesses/opportunities/.
Yes. The fee for a proof of disclosure receipt is $200. The fee for a franchise proof of notice receipt is $100. The division accepts the following payment methods: Visa, American Express, and MasterCard.
If you are filing for a proof of disclosure receipt, you may also submit a check for $200 made payable to the State of Utah. If you prefer to use a credit card for the $200 fee, please use the fax-credit authorization form .
Be sure to include the -BSOE after your number and click search. Do not hit enter.
If you need to renew your Franchise Proof of Notice Filing, but are having difficulties resetting your password, please follow the steps listed below:
- Be sure you are using Google Chrome
- Please visit this link https://dcp-egov.commerce.utah.gov/ and click on "Register a Business"
- Scroll down and enter your registration number including the *-BSOE* and the renewal ID below and click "search".
- This will link you to the company you are trying to renew.
- Scroll down and below you will be able to create a new password.
- DO NOT CREATE A NEW COMPANY IF YOU ARE ONLY TRYING TO RENEW AN EXISTING FILING.
Once it has been created, log out completely and then log back in to renew your filing.