Which section of the Apricot Lane Franchise Agreement addresses the transfer of the franchise?

According to Apricot Lane's 2025 Franchise Disclosure Document, the transfer of the franchise is addressed in Section 20 of the Franchise Agreement. This information is found in Item 11, which outlines the franchisor's assistance, advertising, computer systems, and training provided to franchisees. The table within Item 11 correlates various franchisee obligations with specific sections in the Franchise Agreement and relevant items in the Disclosure Document. For the obligation related to 'Transfer', the corresponding section is 'Section 20 in Franchise Agreement' and 'Items 6 and 17' in the Disclosure Document.

This means that if a franchisee wants to sell their Apricot Lane franchise or transfer ownership, Section 20 of the Franchise Agreement will contain the specific terms and conditions they must follow. These terms likely include requirements for franchisor approval of the buyer, transfer fees, training for the new owner, and other stipulations to ensure the continued success and brand consistency of the Apricot Lane franchise system.

Prospective franchisees should carefully review Section 20 to understand their rights and responsibilities regarding franchise transfers. They should also consult Items 6 and 17 of the FDD, as these items provide further details and disclosures related to transfer conditions, costs, and any potential restrictions. Understanding these provisions is crucial for planning an exit strategy or making informed decisions about the future of their Apricot Lane franchise.