What are the minimum standards that the proposed purchaser of a Bevaris Alliance franchise must meet?
Bevaris_Alliance Franchise · 2024 FDDAnswer from 2024 FDD Document
16.11 Transfer criteria. Any transfer to a third party pursuant to this clause 16 shall be subject to the following criteria being satisfied:
(a) the Franchisor having given its written consent to the transfer (not to be unreasonably withheld if the remainder of the criteria set out in this clause 16.11 are satisfied);
(b) the Franchisee and the Individual have both complied with all the terms and conditions of this agreement;
(c) the proposed purchaser (and, in the case of an entity, includes its shareholders and directors) meets the Franchisor's current minimum standards with respect to prior business experience, financial standing and recruitment criteria;
(d) all monies due to the Franchisor have been paid;
(e) the proposed purchaser undertakes and passes initial training;
Source: Item 23 — RECEIPT (FDD pages 22–88)
What This Means (2024 FDD)
According to Bevaris Alliance's 2024 Franchise Disclosure Document, the proposed purchaser of a franchise must meet certain minimum standards if the franchisee seeks to transfer the franchise to a third party. These standards relate to prior business experience, financial standing, and recruitment criteria.
Specifically, the franchisor must give written consent to the transfer, which will not be unreasonably withheld if the other criteria are met. Both the current franchisee and the individual purchaser must have complied with all the terms and conditions of the franchise agreement. All monies due to Bevaris Alliance must be paid before the transfer can proceed.
Furthermore, the proposed purchaser is required to undertake and pass initial training. Meeting these criteria ensures that any new franchisee is adequately prepared and financially stable, maintaining the standards of the Bevaris Alliance franchise system.