Does Bombs Away Franchising require the proposed assignee to complete Bombs Away Franchising's franchise application processes?
Bombs_Away Franchise · 2024 FDDAnswer from 2024 FDD Document
y Bombs Away Franchising.** Bombs Away Franchising may transfer or assign this Agreement, or any of its rights or obligations under this Agreement, to any person or entity, and Bombs Away Franchising may undergo a change in ownership and/or control, without the consent of Franchisee.
- 15.2 By Franchisee. Franchisee acknowledges that the rights and duties set forth in this Agreement are personal to Franchisee and that Bombs Away Franchising entered into this Agreement in reliance on Franchisee's business skill, financial capacity, personal character, experience, and business ability. Accordingly, Franchisee shall not conduct or undergo a Transfer without providing Bombs Away Franchising at least 60 days prior notice of the proposed Transfer, and without obtaining Bombs Away Franchising's consent.
Source: Item 22 — CONTRACTS (FDD pages 35–36)
What This Means (2024 FDD)
According to Bombs Away's 2024 Franchise Disclosure Document, if a franchisee wishes to transfer their franchise to another party, Bombs Away Franchising may require the proposed assignee to complete Bombs Away Franchising's franchise application processes. This is one of several conditions Bombs Away Franchising may impose when granting consent for a transfer.
This requirement ensures that the proposed new franchisee meets Bombs Away's standards for new franchisees. This process allows Bombs Away to evaluate the assignee's business skills, financial capacity, and overall suitability to operate a Bombs Away franchise.
In addition to completing the application process, the proposed assignee must also meet Bombs Away's then-applicable standards for new franchisees and be approved by Bombs Away as a franchisee. They must also not be a competitor of Bombs Away.