What is the purpose of Exhibit I in the Burneys Sweets More FDD?
Burneys_Sweets_More Franchise · 2025 FDDAnswer from 2025 FDD Document
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
Source: Item 23 — RECEIPT (FDD pages 50–199)
What This Means (2025 FDD)
According to the 2025 Burneys Sweets More FDD, Exhibit I is the "Agreement and Conditional Consent to Transfer." This exhibit likely contains the specific terms and conditions under which a Burneys Sweets More franchisee can transfer their franchise to a new owner.
For a prospective franchisee, this is an important document to review. It outlines the process, requirements, and any potential restrictions on selling their franchise in the future. Understanding these terms is crucial for planning an exit strategy or if circumstances arise where the franchisee needs to transfer ownership.
The "conditional consent" aspect suggests that Burneys Sweets More retains some control over who can become a franchisee, even in a transfer situation. This is a common practice in franchising to maintain brand standards and ensure that new franchisees meet the franchisor's criteria. A prospective franchisee should carefully examine Exhibit I to understand what conditions must be met for a transfer to be approved.