What document outlines the terms and conditions of the transfer of a Burneys Sweets More franchise?
Burneys_Sweets_More Franchise · 2025 FDDAnswer from 2025 FDD Document
28337 910-874-0874
I have received a disclosure document dated April 30, 2025 that included the following: Exhibit A – BURNEY'S SWEETS & MORE Franchise Agreement, with Attachment 1 (Franchise Rider), Attachment 2 (Lease Rider), Attachment 3 (Internet, Social Media, and Telephone Assignment), Attachment 4 (Guaranty), Attachment 5(a) (Noncompetition Agreement), and Attachment 5(b) (Nondisclosure and Non-Solicitation Agreement), Exhibit B-1 – Shop Directory/Listing of Current Franchisees, Exhibit B-2 – Listing of Certain Past Franchisees Exhibit C – Financial Statements, Exhibit D – State Specific Information, Exhibit E – Federal and State Regulators and Agents for Service of Process, Exhibit F –Sample General Release Agreement, Exhibit G – ACH/EFT Transfer Agreement, Exhibit H – First Addendum to Renewal Franchise Agreement, Exhibit I – Agreement and Conditional Consent to Transfer, Exhibit J – Small Business Administration Addendum, Exhibit K – Form of Franchise Compliance Certification, Exhibit L – Receipt
| | WAIVER OF CERTAIN DAMAGES. EXCEPT FOR FRANCHISEE | |---|---| | INDEMNIFYING PARTIES’ OBLIGATIONS TO INDEMNIFY FRANCHISOR | | | INDEMNIFIED PARTIES UNDER THIS AGREEMENT AND ACTION FRANCHISOR | | | BRINGS AGAINST FRANCHISEE (AND FRANCHISEE’S OWNERS, AFFILIATES, | | | AND GUARANTORS, IF APPLICABLE) FOR UNAUTHORIZED USE OF THE MARKS, | | | UNAUTHORIZED USE OR DISCLOSURE OF CONFIDENTIAL INFORMATION, OR | | | BREACH OF NON-COMPETITION OR NON-SOLICITATION COVENANTS, | | | FRANCHISOR AND FRANCHISEE (AND FRANCHISEE’S OWNERS, AFFILIATES, | | | AND GUARANTORS, IF APPLICABLE) WAIVE ANY RIGHT TO OR CLAIM FOR | | | PUNITIVE, CONSEQUENTIAL, EXEMPLARY, MULTIPLE, INCIDENTAL, OR | | | OTHER DAMAGES IN EXCESS OF THE ECONOMIC DAMAGES ACTUALLY | | | SUSTAINED BY THE PARTY, WHETHER ASSERTED AS A RELATED OR | | | INDEPENDENT TORT, AS A BREACH OF CONTRACT, OR AS ANY OTHER CLAIM | | | OR CAUSE OF ACTION BASED ON STATUTORY OR COMMON LAW. THE | | | FOREGOING DOES NOT LIMITED THE PARTIES’ ABILITY TO SEEK EQUITABLE | | | RELIEF. | | You may return one copy of this receipt either by signing, dating and mailing it to DMG BURNEY, INC., Franchise Administration, at DMG BURNEY, INC., 1107-C West Broad St., Elizabethtown, NC 28337, 910-874-0874.
Source: Item 23 — RECEIPT (FDD pages 50–199)
What This Means (2025 FDD)
According to the 2025 Burneys Sweets More Franchise Disclosure Document, the terms and conditions for transferring a franchise are detailed in several documents. Exhibit I, titled "Agreement and Conditional Consent to Transfer," is included in the disclosure document and outlines specific agreements related to the transfer process. Additionally, the "Seller Franchise Agreement" contains provisions governing the transfer of the franchise, requiring the franchisor's consent for any transfer to take place.
Furthermore, a "Purchase Agreement" between the seller and buyer outlines the terms of the sale, and a copy of this agreement is provided to Burneys Sweets More. The franchisor's consent to the transfer is conditional upon several factors, including the termination of the Seller Franchise Agreement, payment of all outstanding amounts due to Burneys Sweets More, payment of a transfer fee, provision of financial statements, and satisfactory completion of the initial training program by the buyer. The Buyer Franchise Agreement will govern the operation of the franchised location after the transfer.
These conditions ensure that Burneys Sweets More maintains control over who operates its franchises and that all financial obligations are met before a transfer is finalized. Both the buyer and seller are expected to execute additional documents necessary to complete the transfer, as contemplated by the Purchase Agreement, the Seller Franchise Agreement, and the Buyer Franchise Agreement. This multi-document approach provides a comprehensive framework for the transfer process, protecting the interests of both the franchisor and the franchisees.