What information must a proposed Hyper Kidz transferee furnish to the franchisor?
Hyper_Kidz Franchise · 2024 FDDAnswer from 2024 FDD Document
(i) the proposed transferee must furnish the information and references we require of potential franchisees and must present himself/herself at his/her own expense for a personal interview at our office;
16.3.3 Clauses (h) and (i) of Section 16.3.2 shall not apply to transfers by gift, bequest, or inheritance.
Source: Item 22 — CONTRACTS (FDD page 52)
What This Means (2024 FDD)
According to Hyper Kidz's 2024 Franchise Disclosure Document, a proposed transferee must furnish information and references that Hyper Kidz requires of potential franchisees. The proposed transferee must also attend a personal interview at Hyper Kidz's office, bearing their own expenses for the trip.
This requirement ensures that the proposed transferee meets Hyper Kidz's standards for franchisees. By requiring the same information and references from potential franchisees, Hyper Kidz aims to maintain consistency and quality across its franchise system. The personal interview allows Hyper Kidz to assess the transferee's suitability and commitment to the Hyper Kidz brand.
This condition does not apply to transfers by gift, bequest, or inheritance, according to section 16.3.3. This suggests that Hyper Kidz may waive these requirements in cases where the transfer is not a typical sale or assignment of the franchise.