How many days does Bojangles have to exercise its option to purchase the franchisee's interest after receiving all necessary documentation regarding a proposed transfer?

According to Bojangles's 2025 Franchise Disclosure Document, if a franchisee intends to transfer their interest in the restaurant to a third party, Bojangles has an option to purchase that interest instead. To initiate this process, the franchisee must provide Bojangles with all the terms of the proposed transfer in writing at least 60 days before the intended transfer date.

Once Bojangles receives all the necessary documentation to evaluate the proposed transfer, they have 30 days to exercise their option to purchase the franchisee's interest. This means Bojangles must send written notice to the seller within this 30-day period if they intend to purchase the interest on the same terms and conditions offered by the third party, excluding any finder's or broker's fees that the third party would have been obligated to pay.

If Bojangles decides to purchase the seller's interest, the closing on the purchase must occur within 30 days from the date Bojangles notifies the seller of their election to purchase. If Bojangles does not exercise its option to purchase, the franchisee is then free to proceed with the transfer to the third party, provided they have met all other conditions outlined in the franchise agreement. Any material changes to the terms of the third party's offer before closing will be considered a new offer, which would again be subject to Bojangles's option to purchase.