How long does Body20 have to review a proposed transfer after receiving written notice?
Body20 Franchise · 2025 FDDAnswer from 2025 FDD Document
onstitute an Event of Default (as herein defined), for which we may terminate this Agreement without opportunity to cure.
- (b) Obtaining Consent. If you or any of your Owners desire to make a Transfer, you must promptly provide us with advance written notice and must submit a copy of all proposed contracts and other information concerning the Transfer and transferee that we reasonably require. We have the right to communicate with both you, your counsel, and the proposed transferee on any aspect of a proposed Transfer. No Transfer that requires our consent may be completed until at least 60 days after we receive written notice of the proposed Transfer. We have sole and absolute discretion to withhold our consent, except as otherwise provided in Sections 13.6 (Transfer to an Entity), 13.7 (Permitted Transfers), and 13.8 (Transfer Upon Death, Incapacity, or Bankruptcy), and we may condition our consent on compliance with any conditions that we specify. If your Studio is not open and operating, we will not consent to your Transfer of this Agreement, and we are under no obligation to do so. Our consent to a Transfer does not constitute a waiver of any claims that we have against the transferor, nor is it a waiver of our right to demand exact compliance with the terms of this Agreement.
- 13.4 Control Transfer.
Source: Item 23 — RECEIPT (FDD pages 74–251)
What This Means (2025 FDD)
According to Body20's 2025 Franchise Disclosure Document, Body20 requires at least 60 days to review a proposed transfer after receiving written notice. Specifically, no transfer requiring Body20's consent can be completed until this 60-day period has passed. This allows Body20 to assess the proposed transfer and the potential transferee.
Body20 has the right to communicate with the current franchisee, their counsel, and the proposed transferee during this review period. This communication allows Body20 to gather necessary information and clarify any aspects of the proposed transfer. Body20 also maintains sole and absolute discretion to withhold consent for the transfer, except under specific conditions outlined in Sections 13.6, 13.7, and 13.8 of the franchise agreement, and may impose conditions for granting consent.
It is important to note that if a Body20 studio is not open and operating, Body20 will not consent to the transfer of the agreement. Furthermore, Body20's consent to a transfer does not waive any existing claims against the transferor or their right to demand compliance with the agreement's terms. For a control transfer, the franchisee or transferee must pay a transfer fee and ensure all financial and other obligations to Body20, its affiliates, and approved suppliers are current and satisfied.