How long does Bigfoot Forestry have to prepare for closing after exercising its right of first refusal?

According to the 2025 Bigfoot Forestry Franchise Disclosure Document, if Bigfoot Forestry exercises its right of first refusal, the sale must be completed within 120 days after Bigfoot Forestry receives the offer. If the sale is not completed within this timeframe, or if there is a material change to the terms of the sale, Bigfoot Forestry will again have the right of first refusal.

This means that a prospective Bigfoot Forestry franchisee needs to be aware that if they decide to sell their franchise, Bigfoot Forestry has the first option to buy it. If Bigfoot Forestry decides to exercise this option, the franchisee must be prepared to finalize the sale within 120 days. Failure to complete the sale within this period, or any significant changes to the sale terms, gives Bigfoot Forestry another opportunity to exercise its right of first refusal.

This clause protects Bigfoot Forestry by ensuring they have control over who joins their franchise system. It also provides a defined timeline for the sale process, which can be beneficial for both the franchisor and the franchisee. However, franchisees should be aware of this potential delay when planning to sell their franchise, as it could impact their timeline and financial expectations.