What is the current transfer fee for a Fast Fix Jewelry And Watch Repairs franchise?
Fast_Fix_Jewelry_And_Watch_Repairs Franchise · 2025 FDDAnswer from 2025 FDD Document
ent terms than those being entered simultaneously with this Agreement, including higher Royalty Fees; the term of the transferred franchise agreement will include the remaining unexpired term of the assignor;
- (g) Payment by the proposed assignee of the then-current transfer fee (currently $5,000);
- (h) Satisfactory completion of the basic training described in Section 3.5 by the proposed assignee and other required personnel and payment of the then-current Franchisor's fee for training (currently $7,500);
- (i) Execution of an acknowledgment or receipt by proposed assignee as to a receipt by assignee of the applicable franchise disclosure documents at least 14 days prior to any such proposed assignment or the payment of any consideration therefore (unless the transaction is exempt from franchise disclosure laws);
- (j) Receipt of all information requested by Franchisor to evaluate the proposed assignee, including its financial statements, the management, business and educational experience, and financial status;
- (k) Execution of a general release of any and all claims by Franchisee and its owne
Source: Item 22 — CONTRACTS (FDD page 37)
What This Means (2025 FDD)
According to Fast Fix Jewelry And Watch Repairs' 2025 Franchise Disclosure Document, the current transfer fee is $5,000. This fee must be paid by the proposed assignee to Fast Fix Jewelry And Watch Repairs in order to transfer the franchise to a new owner.
In addition to paying the transfer fee, the proposed assignee must also complete the basic training program and pay the current training fee, which is $7,500. The proposed assignee must also execute an acknowledgment or receipt confirming they received the franchise disclosure documents at least 14 days before the proposed assignment or any payment. Fast Fix Jewelry And Watch Repairs also requires all information to evaluate the proposed assignee, including financial statements, management, business, educational experience, and financial status.
Furthermore, the franchisee must execute a general release of any and all claims in favor of Fast Fix Jewelry And Watch Repairs. The franchisee must also comply with Section 10.11 of the franchise agreement, and Fast Fix Jewelry And Watch Repairs must not exercise its right of first refusal. These conditions ensure that the new franchisee is adequately trained and financially stable, and that Fast Fix Jewelry And Watch Repairs maintains control over who operates its franchises.