What forms and procedures must I sign when proposing to transfer my Healthsource Chiropractic franchise?
Healthsource_Chiropractic Franchise · 2025 FDDAnswer from 2025 FDD Document
ance written approval for the Transfer must be obtained. In the event of any minority owner transfer, you will promptly notify us of the change in ownership or Interests. Your formal partnership,
corporation or other formation documents and all stock certificates, partnership units or other evidence of ownership must recite or bear a legend reflecting the transfer restrictions of this Paragraph 14.4.
- e. If you propose to Transfer this Agreement, the Franchise or its assets, or any Interest, or if any of your Principal Owners proposes to Transfer a controlling Interest in you or make a Transfer that is one of a series of Transfers which taken together would constitute the Transfer of a controlling Interest in you, then you must apply to us for approval of such Transfer sign such forms and procedures as we have in effect at that time, the person or entity to whom you wish to make the Transfer ("Proposed New Owner") must apply to us for acceptance as a franchisee, and you must submit to us all of the information and documentation required for us to evaluate the proposed Transfer and to confirm that all of the conditions set forth in Section 14.5 below have been, or will be, satisfied.
- 14.5 Conditions for Approval of Transfer. If you and your Principal Owners are in full compliance with this Agreement, both monetary and otherwise, we will not unreasonably withhold our approval of a Transfer that meets all the applicable requirements of this Section 14. The Proposed New Owner must be of good moral character and otherwise meet our then applicable standards for HealthSource Chiropractic Clinic franchisees. For any proposed Transfer, all of the following conditions must be met before or at the time of the Transfer:
- a.
Source: Item 23 — Receipts (FDD pages 77–282)
What This Means (2025 FDD)
According to the 2025 Healthsource Chiropractic Franchise Disclosure Document, if you plan to transfer your franchise, its assets, or any ownership interest, you must apply to Healthsource Chiropractic for approval and adhere to their current forms and procedures. The potential new owner must also apply for acceptance as a franchisee. You are required to provide all necessary information and documentation to allow Healthsource Chiropractic to evaluate the proposed transfer and ensure all conditions are met.
Specifically, you and your principal owners will need to execute a Transfer Agreement. This agreement includes a general release of any claims you may have against Healthsource Chiropractic, its affiliates, officers, directors, employees, and agents. It also acknowledges that the restrictive covenants outlined in the franchise agreement will remain in effect even after the transfer.
Additionally, you must ensure that the proposed new owner agrees in writing to make necessary capital expenditures to remodel, equip, modernize, and redecorate the premises according to Healthsource Chiropractic's current standards. The new owner must also cover Healthsource Chiropractic's expenses for plan preparation, review, and site inspection. Meeting these conditions is essential for obtaining Healthsource Chiropractic's approval and successfully transferring your franchise.