What is the condition regarding the transfer of the business as a going concern when a Bevaris Alliance franchisee transfers their business?

According to the 2024 Bevaris Alliance Franchise Disclosure Document, if a franchisee wishes to transfer their business, it must be transferred as a whole, encompassing all assets, rights, and properties. The transfer must be conducted as a going concern, meaning the business operations continue uninterrupted during the transfer process.

Furthermore, the consideration for the transfer must be in cash only. This means the franchisee cannot accept any other form of payment, such as stock, services, or other assets, in exchange for the business. The franchisor also has the right of first refusal, meaning that before a franchisee can sell to a third party, they must first offer to sell the business to Bevaris Alliance at the proposed sale price.

These conditions ensure that Bevaris Alliance maintains control over who becomes a franchisee and that the brand's standards are upheld. By requiring a complete transfer for cash, Bevaris Alliance aims to simplify the transaction and ensure the new franchisee has sufficient capital to operate the business effectively. The right of first refusal allows Bevaris Alliance to strategically manage its franchise network and prevent potentially unsuitable operators from joining the system.