Does the franchisor's approval of a Bang Cookies transfer constitute approval of future transfers?
Bang_Cookies Franchise · 2024 FDDAnswer from 2024 FDD Document
- (16) Franchisee and transferee acknowledge and agree that Franchisor's approval of the Transfer at issue does not constitute Franchisor's approval of future or other Transfers or the waiver of the requirement that Franchisor must approve such future or other Transfers in accordance with this Agreement;
Source: Item 23 — RECEIPTS (FDD pages 56–245)
What This Means (2024 FDD)
According to Bang Cookies' 2024 Franchise Disclosure Document, the franchisor's approval of a transfer does not constitute approval of future transfers. Each transfer requires separate approval from Bang Cookies.
Bang Cookies' approval of a transfer only indicates that the proposed transferee meets the then-current criteria for franchisees or that Bang Cookies has waived certain criteria. This approval is not a warranty or guarantee of the suitability of the sale terms, the successful operation, or the profitability of the franchised business. The franchisee and transferee acknowledge this understanding.
This policy ensures that Bang Cookies maintains control over who becomes a franchisee and that each potential new franchisee meets their standards at the time of the transfer. It also protects Bang Cookies from being bound by previous transfer approvals if circumstances or standards change.