What conditions must be met for Burros Fries to approve a transfer by the franchisee?
Burros_Fries Franchise · 2024 FDDAnswer from 2024 FDD Document
| Provision | Franchise Agreement | Summary |
|---|---|---|
| 1. Our approval of transfer by you. | FA – Sections 22.C and 22.E | FA – We have the right to approve all transfers by you. |
| m. Conditions of our approval of transfer. | FA – Sections 22.C and 22.E | FA – Full compliance; transferee qualifies; all amounts due are paid in full; completion of training by transferee; transfer fee paid; transferee agrees to be bound by all terms of FA; you sign and deliver other required documents including a release. |
Source: Item 17 — RENEWAL, TERMINATION, TRANSFER, AND DISPUTE RESOLUTION THE FRANCHISE RELATIONSHIP (FDD pages 46–49)
What This Means (2024 FDD)
According to the 2024 Burros Fries Franchise Disclosure Document, the franchisor has the right to approve any transfer of the franchise by the franchisee. Several conditions must be met for Burros Fries to approve a transfer. These conditions include the franchisee being in full compliance with the franchise agreement.
The potential transferee must meet Burros Fries's qualifications for franchisees. All outstanding payments owed to Burros Fries must be paid in full before the transfer can be approved. The transferee is also required to complete the necessary training program to Burros Fries's satisfaction.
Additionally, the franchisee must pay the transfer fee to Burros Fries. The transferee must agree to be bound by all the terms and conditions outlined in the Franchise Agreement. Finally, the franchisee must sign and deliver any other documents required by Burros Fries, including a release of claims.