What information must be included in the offer for a Beef O Bradys franchise transfer?
Beef_O_Bradys Franchise · 2025 FDDAnswer from 2025 FDD Document
- 15.8 Our Right of First Refusal. If you (or any of your Owners) at any time determine to sell, assign or Transfer for consideration an interest in your the Family Sports Pub(s) or an ownership interest in you, you (or such Owner) agree to obtain a bona fide, executed written offer and earnest money deposit (in the amount of 5% or more of the offering price) from a responsible and fully disclosed offeror (including lists of the owners of record and all beneficial owners of any corporate or limited liability company offeror and all general and limited partners of any partnership offeror) and immediately submit to us a true and complete copy of such offer, which includes details of the payment terms of the proposed sale and the sources and terms of any financing for the proposed purchase price. To be a valid, bona fide offer, the proposed purchase price must be denominated in a dollar amount. The offer must apply only to an interest in the Family Sports Pub and may not include an offer to purchase any of your (or your Owners') other property or rights. However, if the offeror proposes to buy any other property or rights from you (or your Owners) under a separate, contemporaneous offer, such separate, contemporaneous offer must be disclosed to us, and the price and terms of purchase offered to you (or your Owners) for the interest in you or the Family Sports Pub must reflect the bona fide price offered and not reflect any value for any other property or rights.
We have the right, exercisable by written notice delivered to you or your selling Owner(s) within 30 days from the date of the delivery to us of both an exact copy of such offer and all other information we request, to purchase such interest for the price and on the terms and conditions contained in such offer, provided that:
Source: Item 23 — RECEIPTS. (FDD pages 66–330)
What This Means (2025 FDD)
According to Beef O Bradys's 2025 Franchise Disclosure Document, if a franchisee wishes to transfer their Family Sports Pub or any ownership interest in it, they must first obtain a bona fide, executed written offer along with an earnest money deposit that is at least 5% of the offering price from a responsible and fully disclosed offeror. The offeror must provide lists of all owners of record and beneficial owners if the offeror is a corporation or LLC, and all general and limited partners if the offeror is a partnership.
The franchisee must then submit a true and complete copy of this offer to Beef O Bradys. This copy must include details of the payment terms for the proposed sale, as well as the sources and terms of any financing the offeror plans to use for the purchase. The proposed purchase price must be clearly stated in U.S. dollars.
The offer must apply strictly to the interest in the Family Sports Pub and cannot include any offer to purchase other property or rights belonging to the franchisee or its owners. If the offeror proposes to buy other property or rights under a separate, contemporaneous offer, this must be disclosed to Beef O Bradys. The price and terms offered for the interest in the franchise must reflect the actual price offered and not include any value for other property or rights.
Beef O Bradys retains the right of first refusal, meaning they have the option to purchase the franchisee's interest for the same price and terms as the offeror. To exercise this right, Beef O Bradys must provide written notice to the franchisee or selling owner(s) within 30 days of receiving a copy of the offer and all other requested information.