When transferring a Beverly Anns Cookie franchise, what documentation must be submitted for review?
Beverly_Anns_Cookie Franchise · 2025 FDDAnswer from 2025 FDD Document
You must also submit a copy of the proposed purchase agreement together with all supporting documents and schedules between you and the proposed transferee to us for our review to ensure that the Transfer does not violate any term of this Franchise Agreement.
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.
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.
You must request that the transferee be provided with our then-current form of franchise disclosure document.
At our request, you will furnish copies of all documents and contracts governing the rights and obligations of your Owners (such as, Articles of Incorporation or Organization and partnership, operating or shareholder agreements or similar documents, the "Company Documents").
Source: Item 23 — RECEIPTS (FDD pages 57–235)
What This Means (2025 FDD)
According to Beverly Anns Cookie's 2025 Franchise Disclosure Document, if you decide to transfer your franchise, you must submit a copy of the proposed purchase agreement, including all supporting documents and schedules, to Beverly Anns Cookie for review. This is to ensure that the transfer does not violate any terms of the existing Franchise Agreement.
Additionally, both you and each of your Owners must sign a general release in a form prescribed by Beverly Anns Cookie. This release covers all known and unknown claims against Beverly Anns Cookie, its affiliates, subsidiaries, 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 Beverly Anns Cookie or its affiliates, the proposed transferee must also execute a general release.
Furthermore, the transferee and its owners must sign Beverly Anns Cookie's then-current form of franchise agreement and related documents, including the Franchise Owner Agreement or other guaranty. The transferee must also be provided with the most current form of the franchise disclosure document. At Beverly Ann's Cookie's request, you will furnish copies of all documents and contracts governing the rights and obligations of your Owners, such as Articles of Incorporation or Organization and partnership, operating or shareholder agreements or similar documents.