What form of release and waiver must an Exit franchisee provide to the Subfranchisor and Exit for a transfer?

According to Exit's 2025 Franchise Disclosure Document, a franchisee looking to transfer their franchise must provide a full general release and waiver to both the Subfranchisor and Exit, as well as their affiliates. This release and waiver must be on the then-current form prescribed by either the Subfranchisor or Exit.

This requirement is one of several conditions that must be met before the Subfranchisor will consent to the transfer. Other conditions include the franchisee fully complying with the provisions of the Franchise Agreement, curing all defaults, paying all monies due to Exit, the Subfranchisor, and the Brokers' Council, and providing the Subfranchisor with copies of the transfer documents in a form acceptable to them.

The prospective franchisee should carefully review the specific form of release and waiver required, as it will likely contain legally binding terms. It is advisable to consult with an attorney to fully understand the implications of signing such a release before proceeding with the transfer.