What must a Beverly Anns Cookie franchisee do if there is a change in ownership?
Beverly_Anns_Cookie Franchise · 2025 FDDAnswer from 2025 FDD Document
together with Releasors, each, a "Party" and together, the "Parties").
WHEREAS, Franchisor and Franchisee have entered into a Franchise Agreement ("Agreement") pursuant to which Franchisee was granted the right to own and operate a Beverly Ann's Business;
WHEREAS, (Franchisee has notified Franchisor of its desire to transfer the Agreement and all rights related thereto, or an ownership interest in Franchisee, to a transferee/enter into a successor franchise agreement/amend the Agreement) or (the Agreement is being terminated/or indicate other reason for the requirement of this waiver and release), and Franchisor has consented to such **(
Source: Item 22 — CONTRACTS (FDD page 57)
What This Means (2025 FDD)
According to the 2025 Beverly Anns Cookie Franchise Disclosure Document, if a franchisee desires to transfer their Franchise Agreement or an ownership interest, or if they want to enter into a successor franchise agreement or amend the existing agreement, they must notify Beverly Ann's Cookies. The franchisor's consent is required for such changes, including transfers, successor agreements, amendments, or terminations.
As part of this process, the franchisee, along with individuals holding an ownership interest, may be required to sign a Waiver and Release of Claims. This release is made as of July 17, 2025, and involves the franchisee, the owners, and Beverly Ann's Cookies. The release documents the agreement between Beverly Ann's Cookies and the franchisee, acknowledging the franchisee's desire to transfer the agreement, ownership interest, or enter into a successor agreement.
This requirement ensures that Beverly Ann's Cookie maintains control over who operates its franchises and that all parties are in agreement regarding the transfer or changes in ownership. It protects the brand by ensuring that any new owners or amended agreements are aligned with the franchisor's standards and policies. Prospective franchisees should be aware of these requirements, as failing to comply could result in the rejection of the transfer or amendment.