What information must a City Wide franchisee provide to City Wide when notifying them of a proposed transfer?
City_Wide Franchise · 2025 FDDAnswer from 2025 FDD Document
- 13.4.1 Franchisee will first notify CITY WIDE in writing of the proposed Transfer with a complete description of all terms of the proposed Transfer, including the prospective transferee's name, address, financial qualifications, and previous five (5) years' business experience.
Source: Item 22 — CONTRACTS (FDD page 65)
What This Means (2025 FDD)
According to City Wide's 2025 Franchise Disclosure Document, a franchisee must provide specific details to City Wide in writing when proposing a transfer of their franchise. This notification must include a complete description of all terms of the proposed transfer.
Specifically, the franchisee must disclose the prospective transferee's name and address. In addition to contact information, the franchisee must also provide information regarding the prospective transferee's financial qualifications.
Finally, the franchisee must also provide the prospective transferee's business experience for the previous five years. This comprehensive disclosure allows City Wide to assess the suitability of the proposed transferee and exercise its option to purchase the franchise interest if desired.