Is there a time limit to transfer the Devon Creek franchise after the franchisee's death or disability?

According to Devon Creek's 2024 Franchise Disclosure Document, the Franchise Agreement will terminate automatically upon the franchisee's death or permanent disability, unless prohibited by law. To avoid termination, the franchise must be transferred within three months to a replacement franchisee that Devon Creek approves.

This means that if a Devon Creek franchisee dies or becomes permanently disabled, their legal representative has a limited time to find a qualified buyer and complete the transfer process. The potential buyer must also be approved by Devon Creek, ensuring they meet the franchisor's standards for operating a franchise.

If the transfer is not completed within the three-month timeframe or if Devon Creek does not approve the proposed replacement franchisee, the franchise agreement will be terminated. This could result in a loss of the business and its associated assets for the franchisee's estate or the disabled franchisee. Prospective Devon Creek franchisees should consider this when planning for the future and discuss options for succession planning with the franchisor.