What articles of the Floyds 99 Franchise Agreement and Development Agreement govern the transfer of the franchise?
Floyds_99 Franchise · 2025 FDDAnswer from 2025 FDD Document
Developer shall promptly provide Franchisor with a written notification if the information contained in the Statement of Ownership changes at any time during the term of this Agreement and shall comply with the applicable transfer provisions contained in Article 8 herein and in the Franchise Agreement.
Source: Item 9 — FRANCHISEE'S OBLIGATIONS (FDD pages 29–30)
What This Means (2025 FDD)
I am unable to provide information on the specific articles governing the transfer of a Floyds 99 franchise from the provided excerpts of the 2025 Franchise Disclosure Document. While the excerpts include information about the Development Agreement, Franchise Agreement, and related exhibits, they do not detail the specific articles or sections that address the transfer of ownership or control of a franchise. The excerpts do mention compliance with transfer provisions in Article 8 of the Development Agreement and Franchise Agreement, but do not include the text of Article 8 itself.
A prospective Floyds 99 franchisee should carefully review the full Franchise Agreement and Development Agreement, paying close attention to any articles regarding transfer, assignment, or change of ownership.
To gain a comprehensive understanding of the transfer process, a potential franchisee should ask Floyds 99's franchisor for a complete copy of the Franchise Agreement and Development Agreement, and then inquire specifically about the conditions, restrictions, and procedures for transferring the franchise, including any associated fees or required approvals. It would also be prudent to understand the franchisor's criteria for approving a potential transferee.