When will the purchase price be paid at the closing of the purchase of my All County business by All County?
All_County Franchise · 2025 FDDAnswer from 2025 FDD Document
- 23.6.6. Closing. The purchase price will be paid at the closing of the purchase, which will take place not later than ninety (90) days after determination of the purchase price.
We have the right to set off against the purchase price, and thereby reduce the purchase price by, any and all amounts you or your owners owe to us.
Source: Item 23 — Receipts (FDD pages 43–157)
What This Means (2025 FDD)
According to All County's 2025 Franchise Disclosure Document, the purchase price for the business will be paid at the closing of the purchase. The closing will occur no later than ninety (90) days after the determination of the purchase price.
All County retains the right to offset any amounts the franchisee or their owners owe to All County against the purchase price, effectively reducing the amount paid at closing. This could include unpaid royalties, advertising fees, or other outstanding debts.
This clause ensures All County can recover any outstanding debts owed by the franchisee when purchasing the business. The franchisee should be aware of this provision and ensure all financial obligations to All County are settled to avoid deductions from the purchase price at closing. Understanding how the purchase price is determined, and the potential for offsets, is crucial for financial planning during the sale of the franchise.