What must a Degree Wellness franchisee do if they propose to transfer the agreement or a controlling interest?
Degree_Wellness Franchise · 2025 FDDAnswer from 2025 FDD Document
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If you propose to Transfer this Agreement, the Franchise or its assets, or any Interest, or if any of your Principal Owners proposes to Transfer a controlling Interest in you or make a Transfer that is one of a series of Transfers which taken together would constitute the Transfer of a controlling Interest in you, then you must apply to us for approval of such Transfer sign such forms and procedures as we have in effect at that time, the person or entity to whom you wish to make the Transfer ("Proposed New Owner") must apply to us for acceptance as a franchisee, and you must submit to us all of the information and documentation required for us to evaluate the proposed Transfer and to confirm that all of the conditions set forth in Section 14.5 below have been, or will be, satisfied.
Source: Item 23 — Receipts (FDD pages 66–257)
What This Means (2025 FDD)
According to Degree Wellness's 2025 Franchise Disclosure Document, if a franchisee proposes to transfer the agreement, the franchise, its assets, or any interest, or if any principal owners propose to transfer a controlling interest, they must apply to Degree Wellness for approval. This involves signing the forms and following the procedures that Degree Wellness has in effect at that time.
Additionally, the person or entity to whom the franchisee wishes to make the transfer, referred to as the "Proposed New Owner," must apply to Degree Wellness for acceptance as a franchisee. The franchisee must submit all information and documentation required for Degree Wellness to evaluate the proposed transfer. This submission is necessary to confirm that all conditions outlined in Section 14.5 of the agreement have been or will be satisfied.
In simpler terms, if a Degree Wellness franchisee wants to sell their franchise or transfer control of it, they need to get approval from Degree Wellness. This involves paperwork for both the seller and the potential buyer, ensuring that the buyer meets Degree Wellness's standards and that all requirements for the transfer are met.