What outstanding payments must the seller make to Burneys Sweets More before the franchise transfer?
Burneys_Sweets_More Franchise · 2025 FDDAnswer from 2025 FDD Document
nt of Amounts Due. Seller will pay all amounts due and owing to Franchisor through the date of Closing; including but not limited to past due royalty and advertising fees in the amount of $_________________;
- c. Transfer Fee.
Source: Item 23 — RECEIPT (FDD pages 50–199)
What This Means (2025 FDD)
According to Burneys Sweets More's 2025 Franchise Disclosure Document, a seller transferring their franchise must meet specific financial obligations to the franchisor, DMG BURNEY, INC., before the transfer can be completed. The seller is required to pay all outstanding amounts owed to the franchisor through the closing date. This includes, but is not limited to, any past due royalty and advertising fees. The exact amount of these outstanding fees is not specified in the document but is indicated by a blank space where the amount would be entered.
In addition to covering any outstanding royalties and advertising fees, the seller must also pay a transfer fee as stipulated in the Seller Franchise Agreement. The specific amount of this transfer fee is also left blank in the document.
These financial obligations ensure that Burneys Sweets More maintains financial integrity and that all accounts are settled before a franchise changes hands. A prospective buyer should ensure that the seller provides accurate and complete financial records and confirms the exact amounts due with the franchisor to avoid any discrepancies or delays in the transfer process. It is crucial for both the seller and the buyer to have a clear understanding of these costs to facilitate a smooth and transparent transfer.