How long does Bambu have to approve or disapprove a proposed Bambu franchise transfer?
Bambu Franchise · 2025 FDDAnswer from 2025 FDD Document
- 17.3 Bambu's Approval of Transfer.
Bambu has 30 days from the date of the written notice of the proposed transfer to approve or disapprove in writing of Franchisee's proposed transfer.
Franchisee acknowledges that the proposed transferee shall be evaluated for approval by Bambu based on the same criteria as is then currently being used to assess new franchisees of Bambu and that such proposed transferee shall be provided, if appropriate, with such pre-transfer disclosures as may be required by state or federal law.
Source: Item 23 — Receipts (FDD pages 52–209)
What This Means (2025 FDD)
According to Bambu's 2025 Franchise Disclosure Document, Bambu has 30 days from the date of the written notice of the proposed transfer to either approve or disapprove the transfer in writing. This timeframe is crucial for franchisees looking to sell their business, as it sets the expectation for how long the approval process will take.
Bambu also has a right of first refusal, which means that Bambu has the option to purchase the franchise on the same terms and conditions as the proposed transferee. This right of first refusal also lasts for 30 days and runs concurrently with the period in which Bambu has to approve or disapprove the proposed transferee.
It is important to note that the proposed transferee will be evaluated based on the same criteria as new franchisees. This ensures that any new owner meets Bambu's standards for business experience, aptitude, and financial qualifications. Franchisees should ensure that potential buyers are aware of these requirements to facilitate a smoother transfer process.