What is the deadline for completing the required upgrades for a transferee of a Bigfoot Forestry franchise?
Bigfoot_Forestry Franchise · 2025 FDDAnswer from 2025 FDD Document
ment agreement (unless we, in our sole discretion, instruct you to assign this Agreement to the transferee) except that: (i) the Term shall be the Term remaining under this Agreement; (ii) the transferee need not pay a separate development fee; and (iii) the Development Schedule and Development Territory shall be the same Development Schedule and Development Territory specified in this Agreement (modified to reflect the development obligations satisfied prior to the Transfer);
- (e) you or the transferee pay us a $10,000 transfer fee (in addition to the transfer fee, you must reimburse us for any commission we pay our broker if our broker finds the transferee);
- (f) you assign all Franchise Agreements to the transfer
Source: Item 23 — RECEIPT (FDD pages 42–162)
What This Means (2025 FDD)
Based on the 2025 Franchise Disclosure Document, the Bigfoot Forestry FDD does not specify a deadline for completing required upgrades for a transferee. However, the document outlines several conditions that must be met for a transfer to be approved. These include the transferee demonstrating sufficient business experience, aptitude, and financial resources, compliance with all Definitive Agreements, completion of the initial training program, obtaining necessary licenses and permits, and agreeing to guarantee obligations under the Franchise Agreement.
Additionally, the transfer is contingent upon the payment of a $10,000 transfer fee, assignment of all Franchise Agreements, signing a General Release, and the franchisor not exercising their right of first refusal. The franchisor also has the discretion to impose other reasonable conditions for approval.
Since the FDD does not explicitly state a deadline for upgrades, it is important for a prospective franchisee to discuss upgrade requirements and timelines with the franchisor during the due diligence process. Understanding these expectations upfront can help ensure a smooth transition and prevent potential conflicts or delays in the future.