What training requirements must the proposed transferee of an Exit franchise complete or agree to complete?
Exit Franchise · 2025 FDDAnswer from 2025 FDD Document
- (I) The proposed transferee shall complete, or agree to complete, the training required under Section 9.11.
9.11. Attendance of Initial Training Program
- (A) Franchisee and an individual who will serve as the broker of record, or administrator of the Franchise Office shall, at Franchisee's own expense, prior to opening its office, attend and complete to Subfranchisor's and EXIT's satisfaction the next scheduled five (5) day franchisee management training course conducted for franchisees at a predetermined location by Subfranchisor or EXIT. There are no charges for the training course or manuals for approved attendees from each Franchise. However, Franchisee is responsible for its travel, lodging, meals, and related expenses. Franchisee agrees to pay EXIT $500.00, if Franchisee signs up and fails to attend the training offered by EXIT, or if Franchisee cancels attendance at the EXIT training course on less than thirty (30) days' prior notice to EXIT. If Franchisee cancels within 10 days or less then the cancellation fee is $1,000. At the option of EXIT, some or all of the training may be online.
Source: Item 23 — RECEIPT (FDD pages 42–235)
What This Means (2025 FDD)
According to Exit's 2025 Franchise Disclosure Document, a proposed transferee must complete, or agree to complete, the training required under Section 9.11. This section details the initial training program that a new franchisee must attend.
Specifically, the franchisee and an individual who will serve as the broker of record, or administrator of the Franchise Office, must attend and complete a five-day franchisee management training course. This course is conducted for franchisees at a predetermined location by Exit or its subfranchisor. While there are no charges for the training course or manuals for approved attendees from each franchise, the franchisee is responsible for covering their own travel, lodging, meals, and related expenses.
Furthermore, if a franchisee signs up for the training but fails to attend, or cancels with less than thirty days' notice, they agree to pay Exit $500.00. If the cancellation occurs within 10 days or less, the cancellation fee increases to $1,000. Exit also has the option to conduct some or all of the training online. Therefore, a potential transferee should factor in these training requirements and associated costs when considering the acquisition of an Exit franchise.