Does a Bombs Away franchisee need franchisor approval to transfer the franchise?

According to Bombs Away's 2024 Franchise Disclosure Document, a franchisee needs franchisor approval to transfer the franchise. The FDD states, "No transfers without our approval. No transfers without our approval."

This requirement means that if a Bombs Away franchisee wants to sell their business, transfer ownership, or transfer control of the business, they must first obtain approval from Bombs Away. This approval process allows Bombs Away to ensure that any new owner meets their standards and is capable of maintaining the brand's reputation and operational standards.

Bombs Away also has specific conditions that must be met for the franchisor's approval of a transfer. These conditions include paying a transfer fee, ensuring the buyer meets Bombs Away's standards and is not a competitor, having the buyer sign the current franchise agreement and related documents, ensuring all payments to Bombs Away are current and all contractual requirements are met, having the buyer complete the training program, and signing a general release. Additionally, the business must comply with the current system specifications.

Bombs Away also retains the right of first refusal to acquire the franchisee's business if the franchisee wants to transfer it to someone other than a co-owner, spouse, sibling, or child. This provision gives Bombs Away the option to purchase the business themselves before allowing it to be transferred to a third party.