When is the Card My Yard transfer fee due?
Card_My_Yard Franchise · 2025 FDDAnswer from 2025 FDD Document
NOTE: All Transferrees acquiring an existing Card My Yard business from a franchisee must sign our then-current Franchise Agreement within thirty days of approval of the transfer by us, and payment of applicable transfer. If you seek to transfer or resell your business, failure to follow this process will incur the then-current termination fees and result in termination of your franchise.
Source: Item 6 — OTHER FEES (FDD pages 15–23)
What This Means (2025 FDD)
According to Card My Yard's 2025 Franchise Disclosure Document, the transfer fee is due when a franchisee transfers their existing Card My Yard business to a new owner. Specifically, the new franchisee (the "Transferee") must sign the then-current Franchise Agreement and pay the applicable transfer fee within thirty days of Card My Yard approving the transfer.
This means that a prospective Card My Yard franchisee looking to buy an existing franchise should be prepared to pay the transfer fee promptly after the transfer is approved by Card My Yard. Failure to complete this process, including payment of the transfer fee, can lead to termination fees and the termination of the franchise agreement.
It is important for both the seller and the buyer to understand and follow this process closely to avoid any penalties or disruptions to the Card My Yard business. The exact amount of the transfer fee is not specified in this excerpt but would be detailed elsewhere in the FDD.