Does the Beverly Anns Cookie Franchise Owner Agreement supersede all prior agreements?
Beverly_Anns_Cookie Franchise · 2025 FDDAnswer from 2025 FDD Document
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.
Source: Item 23 — RECEIPTS (FDD pages 57–235)
What This Means (2025 FDD)
Based on the 2025 Franchise Disclosure Document, the Beverly Anns Cookie franchise agreement that a transferee signs will be the then-current form, superseding the previous agreement, with a couple of exceptions regarding the term and franchise fee. Specifically, the term and any successor terms will be those remaining under the original Franchise Agreement. Additionally, the transferee will not have to pay a separate initial franchise fee.
This means that if you transfer your Beverly Anns Cookie franchise to a new owner, that new owner will be bound by the most up-to-date version of the franchise agreement. However, they will inherit the remaining term of your original agreement and will not be required to pay an initial franchise fee, which could make the franchise more attractive to potential buyers.
As a franchisee looking to sell, this could be a positive feature, as the reduced upfront costs for the buyer may facilitate a quicker sale. However, it is important to be aware that the transferee will also be subject to any new obligations or standards included in the updated franchise agreement. You should make sure you are fully aware of the current terms when considering a transfer.