Where in the Byrider franchise agreement can I find the definition of 'Transfer Fee'?
Byrider Franchise · 2025 FDDAnswer from 2025 FDD Document
Financed Sales Fee").
Bulk Sale of Accounts Fee. Franchisee shall pay to Company a fee equal to 1.90% of gross amounts of Byrider-or
Source: Item 23 — Receipts (FDD pages 88–335)
What This Means (2025 FDD)
According to Byrider's 2025 Franchise Disclosure Document, the definition of 'Transfer Fee' is located in Article IV, Section 3.11 of the franchise agreement. The document specifies that the term "Transfer Fee" refers to Five Thousand ($5,000) Dollars.
This definition clarifies the exact amount a franchisee will be charged for a transfer, which is a fixed fee of $5,000. Understanding this fee is crucial for any prospective franchisee, as it represents a significant cost associated with transferring ownership or rights under the franchise agreement.
It is important for potential Byrider franchisees to note this fee and consider it in their financial planning. Knowing the precise amount allows for better budgeting and forecasting of expenses related to potential future transfers of the franchise. This level of clarity helps franchisees make informed decisions regarding their investment and operational strategies.