What agreements and programs must the transferee and their personnel complete before transferring a Hyper Kidz franchise?

According to Hyper Kidz's 2024 Franchise Disclosure Document, a transferee and their personnel must fulfill specific requirements before a franchise transfer can be approved. The transferee and any personnel who will access confidential information must sign a Confidentiality and Non-Competition Agreement. Additionally, they must complete Hyper Kidz's training program to the franchisor's satisfaction.

Furthermore, the transferee and its Principals, at Hyper Kidz's option, must agree to be bound by all the terms and conditions of the existing Franchise Agreement for the remainder of its term. Alternatively, they may be required to execute Hyper Kidz's then-current form of franchise agreement and any associated documents, including guarantees. This new agreement would be modified to maintain the same Royalty Fees and cover the remaining term of the original agreement.

In addition to these agreements and programs, the transferring franchisee and the transferee might need to execute a general release of claims against Hyper Kidz and its affiliates. If this agreement is being transferred, the franchisee and their Principals must execute a non-competition agreement in favor of Hyper Kidz and the transferee. The transferee must also furnish the information and references required of potential franchisees and attend a personal interview at Hyper Kidz's office, at their own expense. These conditions ensure that the transferee meets Hyper Kidz's standards and is fully prepared to operate the franchise successfully.