Where can I find the definition of 'Recipient Area President' within the Focus Cfo Franchise Agreement?
Focus_Cfo Franchise · 2025 FDDAnswer from 2025 FDD Document
the extent permitted by applicable law, Focus CFO has the right to require Franchisee to sign a release in connection with any refund of the Franchisee Fee.
12. TRANSFER
12.1. Franchisee may sell, convey, or otherwise transfer its Franchise ("Transferring Area President") to another individual ("Recipient Area President") so long as the following conditions are satisfied:
Conditions to Transfer by Franchisee:
- 12.1.1. All transfers are required to be approved by Focus CFO in writing prior to the transfer occurring.
- 12.1.2. The Transferring Area President must have been a Franchisee for at least (2) years and developed a Book of Business, as defined in Attachment A of this Agreement, with at least Five Hundred Thousand Dollars ($500,000) of collected (cash basis) revenue during the twelve (12) months preceding the desired Transfer;
- 12.1.3. The Recipient Area President (i) must be an existing Focus CFO franchisee prior to the Transfer and not be in breach o
Source: Item 23 — Receipts (FDD pages 37–126)
What This Means (2025 FDD)
According to the 2025 Focus Cfo Franchise Disclosure Document, the term "Recipient Area President" is defined within the context of franchise transfer conditions. Specifically, it refers to the individual or entity to whom a Focus Cfo franchisee ("Transferring Area President") may sell, convey, or otherwise transfer their franchise.
The FDD outlines specific conditions that must be met for such a transfer to occur. These conditions include Focus Cfo's written approval, a minimum two-year tenure for the Transferring Area President, and a Book of Business generating at least $500,000 in collected revenue during the 12 months preceding the transfer. The Recipient Area President must either be an existing, compliant Focus Cfo franchisee or an individual entering into a new Franchise Agreement with Focus Cfo.
This definition is important for prospective franchisees as it clarifies the process and requirements for transferring a Focus Cfo franchise. It highlights the need for franchisor approval, financial performance benchmarks, and the eligibility criteria for the recipient. Understanding these conditions is crucial for franchisees considering selling their franchise or those interested in acquiring an existing Focus Cfo franchise from another franchisee.