Must the Area Developer be in compliance with the Development Schedule to transfer the Face Foundrie agreement?

According to Face Foundrie's 2025 Franchise Disclosure Document, an Area Developer seeking to transfer their agreement must be in compliance with the Development Schedule. Specifically, the Area Developer must be in compliance with all terms of the Area Development Agreement, all Franchise Agreements, and any other agreements between the Area Developer (and its affiliates) and Face Foundrie. Additionally, the Area Developer's first Franchised Facial Bar under its first Franchise Agreement must be open and operating.

This requirement ensures that potential transferees are taking over a business that is in good standing with Face Foundrie. It protects the brand's integrity and ensures that new owners are committed to fulfilling the development obligations outlined in the agreement.

For a prospective Face Foundrie Area Developer, this means maintaining diligent adherence to the Development Schedule and all other contractual obligations. Failure to do so could impede the ability to transfer the agreement, potentially affecting the value of the business and the ability to exit the investment. It is important to note that compliance with the Development Schedule is only one of the requirements for transfer, as the transfer is also subject to the Franchisor's consent and other conditions outlined in the Franchise Agreement.