Is franchisee approval required to transfer a Beef O Bradys franchise?
Beef_O_Bradys Franchise · 2025 FDDAnswer from 2025 FDD Document
idation or issuance of additional securities or interests representing an ownership interest in you; (iii) any issuance or sale of your stock or any security convertible to your stock; (iv) transfer of an interest in you, this Agreement or the Family Sports Pub in a divorce, insolvency or corporate or partnership dissolution proceeding or otherwise by operation of law; (v) transfer of an interest in you, this Agreement or the Family Sports Pub, in the event of your death or the death of one of your Owners, by will, declaration of or transfer in trust or under the laws of intestate succession; or (vi) pledge of this Agreement (to someone other than us) or of an ownership interest in you as security, foreclosure upon the Family Sports Pub or your transfer, surrender or loss of possession, control or management of the Family Sports Pub.
- 15.3 Conditions for Approval of Transfer. If you (and your Owners) are in full compliance with this Agreement, then subject to the other provisions of this Section 15, we will not unreasonably withhold approval of a Transfer that meets all the applicable requirements of this Section. The proposed transferee and its direct and indirect owners must be individuals of good character and otherwise meet our then applicable standards for Family Sports Pub franchisees. A Transfer of ownership, possession or control of the Family Sports Pub may only be made if the transferee enters into a new Franchise Agreement. If the Transfer is of your Family Sports Pub(s) or a controlling interest in you, or is one of a series of transfers which in the aggregate constitutes the Transfer of your Family Sports Pub(s) or a controlling interest in you, all of the following conditions must be met prior to or concurrently with the effective date of any Transfer:
- (a) Business Experience. The transferee has sufficient business experience, aptitude and financial resources to operate the Family Sports Pub and has been approved as a franchisee;
Source: Item 23 — RECEIPTS. (FDD pages 66–330)
What This Means (2025 FDD)
According to Beef O Bradys's 2025 Franchise Disclosure Document, a franchisee needs franchisor approval to transfer ownership of their Family Sports Pub. The proposed transferee must meet Beef O Bradys's standards for franchisees and be of good character.
To transfer a Beef O Bradys franchise, the transferee must enter into a new Franchise Agreement. Additionally, if the transfer involves the Family Sports Pub or a controlling interest, specific conditions must be met. These conditions include the transferee having sufficient business experience, aptitude, and financial resources, as well as being approved as a franchisee by Beef O Bradys.
Prior to the transfer, all outstanding royalties, marketing contributions, and other amounts owed to Beef O Bradys or third-party creditors must be paid. The franchisee must also submit all required reports and statements. The transferee and their designated operators must complete the Beef O Bradys training program. A transfer fee of $20,000 is required, with half payable before training begins, to cover expenses related to the transfer and training of up to two designated operators.