In the event of the death or permanent disability of a Craters & Freighters franchisee or principal owner, who is responsible for transferring the interest in the Franchise Agreement?

According to Craters & Freighters' 2025 Franchise Disclosure Document, in the event of the death or permanent disability of a franchisee or a principal owner, the responsibility for transferring the franchise interest falls to the executor, administrator, conservator, guardian, or other personal representative of the deceased or disabled individual.

This personal representative is required to transfer the interest in the Franchise Agreement, or the interest in the franchisee entity itself, to a third party. However, this transfer is not unconditional; Craters & Freighters must approve the third party who will be the recipient of the franchise interest.

The transfer must be completed within six months of the franchisee or principal owner's death or permanent disability. This timeline is important for prospective franchisees to note, as the estate or representative will need to act quickly to find a suitable and approved buyer to maintain the franchise's operation and value.