What are the criteria Beverly Anns Cookie uses to evaluate a proposed transferee's qualifications?
Beverly_Anns_Cookie Franchise · 2025 FDDAnswer from 2025 FDD Document
- 16.3.8 New Franchise Agreement.
You must request that the transferee be provided with our then-current form of franchise disclosure document.
You agree that we will not be liable for any representations that you or your Owners make that are inconsistent with such franchise disclosure document.
The transferee and its owners sign our then-current form of franchise agreement and related
documents, including, but not limited to, our then-current form of Franchise Owner Agreement or other guaranty (unless we, in our sole discretion, instruct you to assign this Franchise Agreement to the transferee), except that: (i) the Term and successor term(s) shall be the Term and successor term(s) remaining under this Franchise Agreement; and (ii) the transferee does not need to pay a separate initial franchise fee.
- 16.3.10 General Release.
You and each of your Owners sign a general release in the form we prescribe for all known and unknown claims against us, our affiliates and subsidiaries, and our and their respective members, officers, directors, agents and employees, arising before or contemporaneously with the Transfer.
If the proposed transferee has any previous relationship with us or our affiliates, then the proposed transferee must also execute a general release.
Source: Item 23 — RECEIPTS (FDD pages 57–235)
What This Means (2025 FDD)
Based on the 2025 Franchise Disclosure Document, Beverly Anns Cookie requires that the transferee receive the current franchise disclosure document. The transferee and their owners must also sign the current form of the franchise agreement and related documents, including a Franchise Owner Agreement or other guaranty. The term and successor terms will be those remaining under the existing Franchise Agreement, and the transferee does not have to pay a separate initial franchise fee.
Additionally, both the transferring franchisee and their owners must sign a general release for all known and unknown claims against Beverly Anns Cookie and its affiliates arising before or during the transfer. If the proposed transferee has had a prior relationship with Beverly Anns Cookie or its affiliates, they must also execute a general release.
These stipulations ensure that the new franchisee is bound by the same terms and conditions as the original franchisee, has been fully informed via the FDD, and releases Beverly Anns Cookie from any prior liabilities. This process is typical in franchising to maintain consistency and protect the franchisor's interests during ownership changes.