What obligations does Bigfoot Forestry have at the closing of the asset acquisition?

Based on the 2025 Bigfoot Forestry Franchise Disclosure Document, Bigfoot Forestry has the option to purchase a franchisee's business and/or its assets upon the termination or expiration of the franchise agreement. If Bigfoot Forestry chooses to exercise this purchase option, they must notify the franchisee of the specific assets they wish to purchase, referred to as the "Acquired Assets," within 20 days after the termination or expiration date of the agreement.

This clause outlines a clear process for asset acquisition by Bigfoot Forestry, providing a defined timeframe for notifying the franchisee about the assets they intend to purchase. This allows the franchisee to understand what will be acquired by Bigfoot Forestry, which is typical in franchise agreements to ensure a smooth transition during termination or expiration.

For a prospective franchisee, this means that upon termination or expiration of their agreement, Bigfoot Forestry has the right to buy their business and assets. The franchisee will be informed of which assets Bigfoot Forestry intends to acquire within 20 days of the agreement's end. This knowledge is crucial for planning the franchisee's next steps, whether it involves starting a new business or retiring. The valuation of these assets would be determined by independent appraisers to ensure fair market value.