What financial information must an Exit franchisee provide about the proposed transferee to the Subfranchisor?

According to Exit's 2025 Franchise Disclosure Document, a franchisee looking to transfer their franchise must submit certain financial information about the proposed transferee to the Subfranchisor. Specifically, the franchisee must provide current, accurate financial statements and other documents.

This information is required to allow the Subfranchisor to assess and approve the transferee's character, integrity, creditworthiness, business experience, reasonable net worth, professional credentials, and ethical background. The Subfranchisor has the discretion to approve or disapprove of the transferee based on this information.

In addition to providing financial information, the franchisee must also fulfill other conditions to get approval for the transfer. These include curing any defaults under the agreement, paying all monies due to Exit, the Subfranchisor, and the Brokers' Council, providing copies of the transfer documents, ensuring the transferee signs a guaranty of the agreement, and ensuring the transferee completes the required training.