What representation does a Degree Wellness franchisee make regarding reliance on Degree Wellness's owners, officers, or employees remaining with the company?
Degree_Wellness Franchise · 2025 FDDAnswer from 2025 FDD Document
14.3 Transfer by Degree Wellness. You represent that you have not signed this Agreement in reliance on any owner, officer, or employee remaining with us in that capacity. We may change our ownership or form at any time in our sole discretion. This Agreement is fully transferable by us, without restriction, and will inure to the benefit of any person or entity to whom it is transferred, or to any other legal successor to our interests in this Agreement. After our assignment of this Agreement to a third party who expressly assumes our obligations under this Agreement, we no longer will have any performance or other obligations or liabilities under this Agreement.
Source: Item 23 — Receipts (FDD pages 66–257)
What This Means (2025 FDD)
According to Degree Wellness's 2025 Franchise Disclosure Document, as a franchisee, you represent that you have not signed the agreement in reliance on any owner, officer, or employee remaining with Degree Wellness in their current capacity. This means that your decision to invest in a Degree Wellness franchise should not be based on the expectation that specific individuals will continue to be associated with the company.
Degree Wellness retains the right to change its ownership or form at any time, at its sole discretion. Furthermore, Degree Wellness can transfer the agreement to another party without any restrictions. This transfer will benefit the person or entity to whom it is transferred, or any other legal successor to Degree Wellness's interests in the agreement.
After Degree Wellness assigns the agreement to a third party who expressly assumes their obligations, Degree Wellness will no longer have any performance or other obligations or liabilities under the agreement. This clause protects Degree Wellness from being held liable if the company's ownership or key personnel change after you become a franchisee. It is a standard clause in franchise agreements to allow for business flexibility on the part of the franchisor.