What is the seller's obligation regarding the payment of the transfer fee to Burneys Sweets More?

According to the 2025 Burneys Sweets More Franchise Disclosure Document, a seller transferring their franchise is obligated to pay a transfer fee to Burneys Sweets More as outlined in the Seller Franchise Agreement. This payment is a condition for Burneys Sweets More to consent to the transfer and release the seller from their obligations under the agreement. The exact amount of the transfer fee is not specified in this excerpt but is to be provided in the Seller Franchise Agreement.

This requirement ensures that Burneys Sweets More is compensated for the administrative and legal work involved in approving the transfer of ownership. It also helps to maintain the integrity of the franchise system by ensuring that only qualified and financially stable individuals become franchisees. The consent and release are contingent upon the seller fulfilling several conditions before the transfer's closing date.

Besides the transfer fee, the seller must also pay all outstanding amounts owed to Burneys Sweets More, including any past due royalty and advertising fees. They must also provide all required monthly financial statements for the franchised location up to the closing date. These conditions collectively ensure that the seller is in good standing with Burneys Sweets More before the transfer is finalized, protecting the brand and the interests of other franchisees.