What qualifications must a proposed transferee meet to be approved by Beem Light Sauna?

According to the 2025 Beem Light Sauna Franchise Disclosure Document, a proposed transferee must meet several qualifications to be approved by Beem Light Sauna. The transferee must demonstrate that they meet all of Beem Light Sauna's then-current qualifications to become a franchisee. This includes not having any involvement with a Competitive Business.

In addition to meeting the standard franchisee qualifications, the current franchisee must also fulfill certain obligations. They must pay Beem Light Sauna the Transfer Fee and ensure that all monetary and other outstanding obligations to Beem Light Sauna, its Affiliates, and approved suppliers are up to date, fully paid, and satisfied. The franchisee and their Affiliates must not be in default of any provision of the Franchise Agreement or any Related Agreements as of both the date of the request for transfer approval and the date of the transfer itself.

Furthermore, the franchisee and their Owners must execute a general release of claims against Beem Light Sauna and its affiliates, and agree to remain liable for all obligations to Beem Light Sauna in connection with the Studio arising before the transfer's effective date. They must also continue to be bound by the provisions regarding Intellectual Property, Proprietary Information, Indemnification, and Noncompete Covenants as if the Franchise Agreement had expired or terminated. Finally, the franchisee must provide written notice from their landlord indicating that the landlord has agreed to transfer the Site Lease to the proposed transferee.

These conditions ensure that Beem Light Sauna maintains control over who operates its franchises and that any transfer does not negatively impact the brand or other franchisees. Prospective franchisees should carefully consider these requirements and discuss them with Beem Light Sauna to fully understand the transfer process and criteria.