What is the deadline for the Transferee to complete Buns On Fire's standard franchise selection process?
Buns_On_Fire Franchise · 2025 FDDAnswer from 2025 FDD Document
- (i.) The Transferee must complete, and be approved through, Franchisor's standard franchise selection process including satisfactorily demonstrating to Franchisor that they meet the financial character and managerial criteria that Franchisor is then applying in considering applications for new franchisees;
- (ii.) The Transferee shall agree, in writing, to personally assume liability for and to perform all the terms and conditions of this Agreement to the same extent as the original Franchisee; and
- (iii.) If the Transferee is not approved, the Franchisee or legal representative of the Transferee shall use their best efforts to sell the Franchised Business to another party that is acceptable to Franchisor within twelve (12) months from the date of the Franchisee's death or permanent incapacity or disability. Further, the Franchisor shall have the option, but is not obligated, to operate or manage the Franchised Business for the account of Franchisee's estate until the deceased or incapacitated Franchisee's interest is transferred to another party acceptable to Franchisor. Should Franchisor choose to operate or manage the Franchised Business, Franchisor will make a complete accounting and will forward fifty percent (50%) of the net income for the operation of the Franchised Business to Franchisee's estate. If the conveyance
Source: Item 23 — RECEIPTS (FDD pages 49–200)
What This Means (2025 FDD)
According to the 2025 Buns On Fire Franchise Disclosure Document, a transferee seeking to acquire an existing Buns On Fire franchise must complete and be approved through the franchisor's standard franchise selection process. This includes demonstrating that the transferee meets the financial, character, and managerial criteria that Buns On Fire applies when considering applications from new franchisees.
While the FDD states that the transferee must complete the standard franchise selection process, it does not specify a deadline for doing so. However, if the transferee is not approved, the franchisee has twelve months from the date of death, permanent incapacity, or disability to sell the Franchised Business to another party that is acceptable to Buns On Fire.
Prospective franchisees should inquire with Buns On Fire about the typical timeframe for completing the franchise selection process and what factors could affect the approval timeline. Understanding the expected duration and requirements of this process is crucial for anyone considering purchasing an existing Buns On Fire franchise.