What is the requirement for an updated personal financial statement during a Cream franchise transfer?

According to the 2025 FDD, if the transfer involves any beneficial or ownership interest in the franchisee, the transferee(s) must sign Cream's current form of guaranty, personally bound by all provisions of the agreement and any ancillary agreements. Additionally, they must provide an updated Attachment D. While the FDD mentions the need for an updated Attachment D, it does not explicitly state that Attachment D is a personal financial statement.

This requirement ensures that Cream has current financial information on the individuals or entities taking over the franchise. This allows Cream to assess their financial capability to meet the obligations of the franchise agreement. The updated guaranty and financial information help protect Cream's interests by ensuring the transferee has the financial resources to operate the franchise successfully.

A prospective franchisee should clarify with Cream what Attachment D specifically entails and what financial information is required. Understanding the exact scope of the required financial disclosures is crucial for preparing for a franchise transfer. It is also important to understand how Cream will use this information in evaluating the transferee's application.