How long after the death or incapacity of a Bombs Away franchisee does the executor have to transfer the business?

According to Bombs Away's 2024 Franchise Disclosure Document, if a franchisee (or the owner with the largest ownership interest, if the franchisee is an entity) dies or becomes incapacitated, their executor, administrator, or personal representative has nine months to transfer the Bombs Away business. The transfer must be to a third party approved by Bombs Away Franchising or to another person who was an owner at the time of death or incapacity. This transfer is also subject to the conditions outlined in Section 15.2 of the franchise agreement.

This requirement ensures that the Bombs Away franchise continues to operate under approved management even in unforeseen circumstances. The nine-month period provides the executor with a reasonable timeframe to settle the estate and find a suitable buyer or transfer the business to a qualified existing owner.

It is important to note that Bombs Away Franchising retains the right to approve any potential buyer to ensure they meet the brand's standards. Additionally, the existing owners must have been owners at the time of the death or incapacity to be eligible to receive the franchise. This provision aims to maintain the integrity and consistency of the Bombs Away brand and operations.

Prospective franchisees should carefully consider this clause and discuss with Bombs Away the specific requirements and procedures for transferring the franchise in the event of death or incapacity. Understanding these requirements is crucial for estate planning and ensuring the continued success of the Bombs Away business.