What is the transfer fee for a Burneys Sweets More franchise?
Burneys_Sweets_More Franchise · 2025 FDDAnswer from 2025 FDD Document
- (vi) Continuing Obligations.
Franchisee and any Owner transferring an interest in Franchisee acknowledges and agrees in writing that it is bound by Sections 14, 15 and 23 of this Agreement.
- (vii) Transfer Fee.
Franchisee or the Owner, as applicable, pays to Franchisor a transfer fee equal to fifty percent (50%) of the then-current franchise fee, which fee must be deposited with Franchisor on a non-refundable basis upon Franchisee's notification to Franchisor of the proposed transfer and prior to Franchisor's undertaking any review, drafting of documents, training or other activities.
If Franchisor does not approve the transfer, Franchisee's transfer fee will be returned to Franchisee minus Franchisor's expenses incurred (including legal fees) for review and consideration of the transfer.
Source: Item 22 — CONTRACTS (FDD page 50)
What This Means (2025 FDD)
According to the 2025 Burneys Sweets More Franchise Disclosure Document, a franchisee who wishes to transfer their franchise must pay a transfer fee. This fee is equal to fifty percent (50%) of the then-current franchise fee.
This transfer fee must be deposited with Burneys Sweets More on a non-refundable basis once the franchisee notifies Burneys Sweets More of the proposed transfer. This deposit is required before Burneys Sweets More undertakes any review, document drafting, training, or other related activities.
However, if Burneys Sweets More does not approve the transfer, the franchisee will receive a refund of the transfer fee, minus any expenses Burneys Sweets More incurred during the review and consideration of the transfer, including legal fees. This means that even if the transfer is not approved, the franchisee may still incur costs related to the attempted transfer.