What agreement governs the operation of the Burneys Sweets More franchised location after the closing?
Burneys_Sweets_More Franchise · 2025 FDDAnswer from 2025 FDD Document
The Seller Franchise Agreement will terminate as of the Closing, and the operation of the Franchised Location will thereafter be governed by the Buyer Franchise Agreement;
Source: Item 23 — RECEIPT (FDD pages 50–199)
What This Means (2025 FDD)
According to the 2025 Burneys Sweets More Franchise Disclosure Document, the operation of a franchised location after the transfer closing is governed by the Buyer Franchise Agreement. The previous Seller Franchise Agreement will terminate as of the closing date.
This means that a new franchisee purchasing an existing Burneys Sweets More location will operate under the terms of a new franchise agreement (the Buyer Franchise Agreement) rather than the agreement held by the previous owner (the Seller Franchise Agreement). This ensures that all franchisees are operating under the most current terms and conditions set by Burneys Sweets More.
Prior to the closing of the transfer, several conditions must be met. These include the satisfactory completion of the initial training program as described in the Buyer Franchise Agreement, providing evidence of the right to possess the premises, and ensuring that all items from the Pre-Sale Inspection are completed. The franchisor, Burneys Sweets More, must also consent to any amendments to the Purchase Agreement.