For Hawaiian Bros Island Grill, what does 'Asset Interests' include besides the Restaurant Premises?
Hawaiian_Bros_Island_Grill Franchise · 2025 FDDAnswer from 2025 FDD Document
Offer means a bona fide written offer for the purchase of (i) a Principal's Ownership Interest in Developer, whether direct or indirect, or (ii) Developer's Asset Interests.
Interests mean Ownership Interests and Asset Interests, collectively.
Source: Item 23 — RECEIPTS (FDD pages 77–262)
What This Means (2025 FDD)
According to the 2025 Hawaiian Bros Island Grill Franchise Disclosure Document, the term "Asset Interests" is mentioned in the context of an offer to purchase. Specifically, an "Offer" is defined as a bona fide written offer for the purchase of a Principal's Ownership Interest in the Franchisee or the Franchisee's Asset Interests.
However, the document does not explicitly define what constitutes "Asset Interests" beyond the restaurant premises. The definition of "Interests" is provided as a collective term encompassing both "Ownership Interests" and "Asset Interests," but this does not clarify the specific components of "Asset Interests."
Therefore, a prospective Hawaiian Bros Island Grill franchisee should seek clarification from the franchisor regarding the specific assets included in "Asset Interests." This is crucial for understanding the scope of a potential sale or transfer of the franchise and to fully grasp the financial implications of the franchise agreement.