What payments must be made to Floors To Go as a condition of transfer approval?
Floors_To_Go Franchise · 2025 FDDAnswer from 2025 FDD Document
| Provision | Section in Membership Agreement | Summary | |
|---|---|---|---|
| m. | Conditions for our approval of transfer | Section 11.1 | Includes payment of monies owed and fee, no breach, release of liabilities, transferee suitability, execution of new agreement. The general release required as a condition of renewal, sale and/or assignment/transfer shall not apply to any liability under the Maryland Franchise Registration and Disclosure Law. |
You or the transferee(s) shall pay to us the Transfer Fee; and
Two representatives of the transferee(s) shall attend a two-day training program at our headquarters in Bonita Springs, Florida prior to our consent to transfer.
We will reimburse transferee(s) for all reasonable costs relating to travel and lodging incurred by the two representatives for their attendance at this two-day program.
Source: Item 23 — RECEIPTS (FDD pages 47–204)
What This Means (2025 FDD)
According to the 2025 Floors To Go Franchise Disclosure Document, there are certain payments and conditions that must be met to gain approval for a franchise transfer. Specifically, all monies owed to Floors To Go must be paid, along with a transfer fee.
In addition to these payments, the franchisee must not be in breach of the agreement. The franchisee must also provide a release of liabilities, ensure the transferee is suitable, and secure the transferee's execution of a new agreement.
Furthermore, the FDD states that two representatives of the transferee must attend a two-day training program at Floors To Go's headquarters in Bonita Springs, Florida, prior to the transfer being approved. While the franchisee or transferee bears the initial cost, Floors To Go will reimburse the transferee for reasonable travel and lodging costs incurred during this training.