What costs related to the transfer are the responsibility of the transferee when transferring a Bumble Roofing franchise?
Bumble_Roofing Franchise · 2025 FDDAnswer from 2025 FDD Document
- (j) the transferee paying all costs of: (i) Franchisor with respect to the granting of its approval, as hereinbefore contemplated, including but not limited to all of its legal costs with respect to the preparation and execution of the above noted Franchise Agreement, and all other documents then customarily used by Franchisor to grant franchises; and (ii) the transfer, including but not limited to all professional fees (attorney's fees, broker fees, and the like), leasing expenses, document preparation costs and due diligence. Franchisee agrees and acknowledges that Franchisee shall be solely responsible for paying any broker fees and/or commissions involved with the sale or transfer of the Business regardless of whether Franchisee directly engages such broker or if, at Franchisee's request, Franchisor engages such broker to assist with the sale or transfer of the Business.
Source: Item 22 — CONTRACTS (FDD page 53)
What This Means (2025 FDD)
According to Bumble Roofing's 2025 Franchise Disclosure Document, the transferee is responsible for specific costs associated with the transfer of a franchise. The transferee must cover all costs incurred by Bumble Roofing related to granting approval of the transfer. These costs include Bumble Roofing's legal fees for preparing and executing the Franchise Agreement and other customary documents used for granting franchises.
Additionally, the transferee is responsible for all costs related to the transfer itself. This includes professional fees such as attorney's fees and broker fees, leasing expenses, document preparation costs, and due diligence expenses. The franchisee (seller) is solely responsible for paying any broker fees or commissions, regardless of whether they directly engage the broker or if Bumble Roofing engages the broker at the franchisee's request.
In practical terms, a prospective Bumble Roofing transferee should be prepared to cover a range of expenses beyond the purchase price of the franchise. These expenses include legal and professional fees, which can vary depending on the complexity of the transfer and the professionals involved. It is important for both the franchisee and the transferee to understand these financial responsibilities upfront to ensure a smooth transfer process.