When is the Burneys Sweets More transfer fee due?
Burneys_Sweets_More Franchise · 2025 FDDAnswer from 2025 FDD Document
| Name of Fee1 | Amount | Due Date | Remarks |
|---|---|---|---|
| Refurbishing Reimbursement | Our costs and expenses plus 15%. | Upon demand | If we must undertake any refurbishing work on your behalf, you will pay us our costs and expenses and an administrative fee of 15% for the total aggregate amount incurred by us. Additional interest will apply to any late payment of reimbursement. |
| Customer Complaint Fee | Our costs and expenses. | Upon demand. | If a customer complains to us and you fail to satisfactorily remedy the complaint, you will pay us our costs to respond to the complaint. |
| Default Damages | Damages, costs, losses, and expenses, | As incurred. | You must promptly reimburse us for any damages, costs, losses, and expenses, including reasonable attorneys' fees, we incur as a result of any default under the Franchise Agreement. |
| Liquidated damages | An amount equal to royalty fees and marketing fund contributions for the lesser of (i) 2 years or (ii) the remaining weeks of the franchise term. | On demand | Payable if we terminate your franchise agreement because of your default, or if you terminate the franchise agreement without the right to do so. |
| Transfer Damages | 15% of the price paid by the transferee or $25,000, whichever is greater. | Within 15 days of our demand. | Due only if you breach your transfer obligations to us. These are liquidated damages and not a penalty. |
Source: Item 6 — OTHER FEES (FDD pages 11–17)
What This Means (2025 FDD)
According to Burneys Sweets More's 2025 Franchise Disclosure Document, a transfer damage fee is due within 15 days of demand. This fee is only assessed if a franchisee breaches their transfer obligations to Burneys Sweets More.
The transfer damage fee is a liquidated damage and not a penalty. The amount of the transfer damage fee is 15% of the price paid by the transferee or $25,000, whichever is greater.
It is important for prospective franchisees to understand the conditions under which this fee is assessed, as breaching transfer obligations can result in a significant financial obligation to Burneys Sweets More. Franchisees should carefully review the transfer provisions in the Franchise Agreement to ensure compliance and avoid potential breaches.