Under what condition can Bojangles purchase the interest proposed to be sold for the reasonable equivalent in cash?

According to Bojangles's 2025 Franchise Disclosure Document, Bojangles has the option to purchase the interest proposed to be sold for a reasonable equivalent in cash if the consideration, terms, and/or conditions offered by a third party are such that Bojangles is not in a position to furnish the same consideration, terms, and/or conditions. This clause protects Bojangles's interests in maintaining control over who becomes a franchisee and ensures that the terms of any transfer are acceptable to them.

For a prospective franchisee, this means that if you receive an offer from a third party to purchase your Bojangles franchise, Bojangles has the right to match the offer. However, if the offer includes non-monetary considerations or terms that Bojangles cannot easily replicate, Bojangles can instead offer a reasonable cash equivalent for your interest. This provides Bojangles with flexibility in exercising its right of first refusal.

This condition is fairly standard in franchising, as franchisors typically want to retain control over who enters their system. It is important for a franchisee to understand that selling their franchise is not simply a matter of accepting the highest offer; Bojangles has the right to step in and purchase the franchise themselves, either by matching the offer or providing a reasonable cash equivalent.