Who pays for the training programs required for a Card My Yard franchise transfer?
Card_My_Yard Franchise · 2025 FDDAnswer from 2025 FDD Document
- (4) The proposed transferee must demonstrate to our satisfaction that it meets our then-current qualifications, and, at the transferee's expense, its Principal Owner, General Manager, and any other personnel we require shall complete any training programs then in effect for Card My Yard businesses upon such terms and conditions as we may reasonably require;
Source: Item 23 — RECEIPTS (FDD pages 84–259)
What This Means (2025 FDD)
According to Card My Yard's 2025 Franchise Disclosure Document, the financial responsibility for training programs during a franchise transfer falls on the transferee. Specifically, the proposed transferee must meet Card My Yard's qualifications, and the Principal Owner, General Manager, or any other required personnel must complete the necessary training programs at the transferee's expense. This condition is part of the requirements that Card My Yard sets for approving the transfer of a franchise.
This means that someone looking to buy an existing Card My Yard franchise will need to budget not only for the purchase price and transfer fees but also for the costs associated with any required training. These training programs ensure that the new owner and key staff are aligned with Card My Yard's operational standards and practices. The FDD does not specify the exact cost of these training programs, so prospective transferees should inquire about these costs during their due diligence.
It is typical in franchising for the incoming party to bear the costs of training during a transfer. This ensures that the new franchisee is properly equipped to run the business according to the franchisor's standards. For a potential Card My Yard franchisee, understanding and planning for these training expenses is a crucial part of evaluating the financial feasibility of acquiring an existing franchise.