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

According to the 2024 Bevaris Alliance Franchise Disclosure Document, a franchisee is not permitted to transfer the entire business unless it is for cash only.

Before a Bevaris Alliance franchisee can transfer their business to a third party, the franchisor has the first right of refusal to purchase the business at the price offered by the proposed purchaser. The franchisor has a specified period to provide an Asset Purchase Notice, indicating their intent to buy the business at the proposed sale price.

If Bevaris Alliance does not exercise its right to purchase the business, the franchisee can then proceed with the transfer to the third party. However, this transfer must occur within 60 days of the expiration of the franchisor's initial review period, and the sale price cannot be lower than the originally proposed price. Additionally, the transfer is contingent upon meeting specific criteria outlined in the franchise agreement, ensuring the proposed purchaser meets the franchisor's standards for business experience, financial standing, and recruitment.