What are 'Acquired Assets' in the context of a terminated or expired Bigfoot Forestry franchise agreement?

According to the 2025 Bigfoot Forestry Franchise Disclosure Document, 'Acquired Assets' refer to the assets that Bigfoot Forestry may choose to purchase from a franchisee upon the termination or expiration of the franchise agreement. Specifically, if Bigfoot Forestry decides to exercise its option to purchase the franchisee's business or its assets, they will notify the franchisee of the specific assets they intend to purchase within 20 days after the termination or expiration date. These selected assets are then designated as the 'Acquired Assets'.

This purchase option provides Bigfoot Forestry with the flexibility to maintain operations and retain valuable assets within the franchise system, even when a franchisee exits the business. For a prospective franchisee, this means that upon termination or expiration of their agreement, Bigfoot Forestry has the right to buy specific assets of their business.

The FDD also defines 'Appraised Value' as the fair market value of the Acquired Assets, which will be determined by independent appraisers. This valuation process ensures that the franchisee receives fair compensation for the assets acquired by Bigfoot Forestry. It is important for potential franchisees to understand the implications of this purchase option and how the value of their assets will be determined in the event of termination or expiration.