What is the condition regarding the price and terms of payment for the transfer of a Deck Medic franchise?
Deck_Medic Franchise · 2024 FDDAnswer from 2024 FDD Document
(9) Franchisee, each Owner, and each Spouse shall remain liable for all obligations to Franchisor set forth in this Agreement;
(11) Franchisee must pay a fixed sum of an amount equal to $10,000 to Franchisor (the "Transfer Fee");
Source: Item 23 — RECEIPTS (FDD pages 43–228)
What This Means (2024 FDD)
According to Deck Medic's 2024 Franchise Disclosure Document, a franchisee who is transferring their franchise must pay Deck Medic a $10,000 transfer fee. This fee is a fixed sum.
If Deck Medic elects, the transferee may be required to execute the then-current standard form Franchise Agreement for new franchisees, with a term ending on the original agreement's expiration date. The terms of the new agreement may differ from the original, but it must provide for the same Royalty Fee, Advertising Contributions, and all other financial or monetary obligations established in the original agreement.
Franchisee, each Owner, and each Spouse shall remain liable for all obligations to Deck Medic set forth in this Agreement.