Under what circumstances is a Proposed Transfer considered disapproved by Bor Restoration?

According to Bor Restoration's 2024 Franchise Disclosure Document, attempting to complete a transfer without the express permission of Bor Restoration constitutes a breach of the Franchise Agreement, for which there is no opportunity to cure. Additionally, any involuntary transfer by the franchisee is not binding on Bor Restoration and is grounds for termination without the right to cure.

Bor Restoration also considers several factors when determining the acceptability of a proposed transferee. These include the franchisor's then-current standards for new franchisees, encompassing the proposed transferee's net worth, creditworthiness, background, training, personality, reputation, and business experience. The terms and conditions of the proposed transfer are also considered, along with any circumstances that would make the transfer contrary to Bor Restoration's reasonable business judgment or the best interests of the Bor Restoration system.

These stipulations are typical in franchising, as franchisors want to maintain control over who enters their system to protect brand standards and the interests of existing franchisees. A prospective Bor Restoration franchisee should understand that transferring their franchise is not guaranteed and is subject to Bor Restoration's approval, based on a variety of factors. It is important to maintain compliance with the franchise agreement to facilitate any future transfer.