What information and documentation must I submit to Healthsource Chiropractic to evaluate a proposed transfer?
Healthsource_Chiropractic Franchise · 2025 FDDAnswer from 2025 FDD Document
- 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.
Source: Item 23 — Receipts (FDD pages 77–282)
What This Means (2025 FDD)
According to the 2025 Healthsource Chiropractic FDD, if you plan to transfer your franchise agreement, the franchise itself, its assets, or any ownership interest, you must apply to Healthsource Chiropractic for approval. This involves signing the forms and completing the procedures that Healthsource Chiropractic has in place at that time.
Additionally, the person or entity to whom you wish to transfer the franchise (the "Proposed New Owner") must also apply for acceptance as a franchisee. You are required to submit all information and documentation necessary for Healthsource Chiropractic to evaluate the proposed transfer. This submission is also used to confirm that all conditions outlined in Section 14.5 of the franchise agreement have been or will be satisfied.
In summary, the requirements involve a dual application process where both the current franchisee and the proposed new owner must apply and provide comprehensive documentation to Healthsource Chiropractic. This allows Healthsource Chiropractic to thoroughly assess the proposed transfer and ensure the new owner meets their standards and that all contractual obligations are met.