What transfer fee does Care Plus Medical Ucc charge for a franchise transfer?
Care_Plus_Medical_Ucc Franchise · 2024 FDDAnswer from 2024 FDD Document
LE 15. TRANSFERS**
- 15.1 By Care Plus Medical UCC. Care Plus Medical UCC may transfer or assign this Agreement, or any of its rights or obligations under this Agreement, to any person or entity, and Care Plus Medical UCC may undergo a change in ownership and/or control, without the consent of Franchisee.
- 15.2 By Franchisee. Franchisee acknowledges that the rights and duties set forth in this Agreement are personal to Franchisee and that Care Plus Medical UCC entered into this Agreement in reliance on Franchisee's business skill, financial capacity, personal character, experience, and business ability. Accordingly, Franchisee shall not conduct or undergo a Transfer without providing Care Plus Medical UCC at least 60 days prior notice of the proposed Transfer, and without obtainin
Source: Item 22 — CONTRACTS (FDD page 41)
What This Means (2024 FDD)
According to Care Plus Medical Ucc's 2024 Franchise Disclosure Document, a franchisee who wishes to transfer their franchise must pay a transfer fee. This fee is equal to $10,000, in addition to any broker fees and out-of-pocket costs that Care Plus Medical Ucc incurs during the transfer process.
This means that if a Care Plus Medical Ucc franchisee decides to sell their business to another party, they should anticipate paying this fee to the franchisor. It is important to note that this transfer fee is just one of the conditions that Care Plus Medical Ucc may impose when granting consent for a transfer.
Other conditions include ensuring the proposed assignee meets Care Plus Medical Ucc's standards for new franchisees, is not a competitor, and executes the then-current franchise agreement. The franchisee must also have paid all outstanding obligations to Care Plus Medical Ucc and its affiliates to be eligible for a transfer.