What are the two options for addressing existing deficiencies at the Business Location for a Byrider franchise assignment?

According to the 2025 Byrider Franchise Disclosure Document, there are two options for addressing existing deficiencies at the Business Location when a franchise is assigned. First, the franchisee can correct any existing deficiencies of the Business Location that Byrider has notified them of via a punch list or other communications. Alternatively, if the Control Assignment is of the Franchise Agreement, the assignee can agree to upgrade, remodel, and refurbish the Business Location. This upgrade must be in accordance with Byrider's then-current requirements and specifications for Businesses, and it must be completed within the time period Byrider specifies following the effective date of the Control Assignment. Byrider will inform the assignee of the specific actions required and the timeframe for completion before the Control Assignment takes effect.

This means that if a Byrider franchisee wants to assign their franchise to someone else, any existing issues with the physical location must be resolved. The current franchisee can take care of these issues before the assignment, or the person taking over the franchise can agree to fix them. If the new franchisee agrees to handle the upgrades, Byrider will provide them with a list of what needs to be done and how long they have to do it.

This ensures that all Byrider locations meet the company's standards, even when ownership changes. For a potential franchisee, this means they need to be aware of the condition of the location they are taking over and be prepared to either negotiate with the current owner to fix any issues or be ready to invest in upgrades themselves. It is important to get clarity from Byrider regarding the specific requirements and timelines for any required upgrades before finalizing the franchise assignment.