What standard criteria must a franchisee meet to be eligible for lease assignment from Apricot Lane?

According to Apricot Lane's 2025 Franchise Disclosure Document, a franchisee must meet certain criteria to be eligible for lease assignment, whether the assignment originates from the tenant or from Apricot Lane itself.

If the original tenant (the franchisee) seeks to assign the lease to another franchisee, the following conditions must be met: the landlord must consent to the assignment, with such consent not being unreasonably withheld, conditioned, or delayed; the tenant must provide the landlord with at least 30 days' prior written notice of the assignment; the tenant must not be in default under the lease at the time of assignment; the incoming franchisee must meet all standard criteria applicable to Apricot Lane franchisees generally; and the incoming franchisee must be contractually obligated to operate the premises under the same trade name and for the same permitted use as specified in the original lease.

If Apricot Lane assumes the lease due to the original franchisee's default and then seeks to assign it to a new franchisee, similar conditions apply. Apricot Lane must provide the landlord with at least 30 days' prior written notice of the assignment; Apricot Lane must not be in default under the lease at the time of assignment; the incoming franchisee must meet all standard criteria applicable to Apricot Lane franchisees generally; and the incoming franchisee must be contractually obligated to operate the premises under the same trade name and for the same permitted use as specified in the original lease. Additionally, the landlord's consent to the assignment cannot be unreasonably denied.

It is important to note that the FDD does not explicitly define the 'standard criteria applicable to Apricot Lane franchisees generally.' A prospective franchisee should seek clarification from Apricot Lane regarding these criteria to fully understand the requirements for lease assignment eligibility.