What is the transfer fee for a Hyper Kidz franchise?
Hyper_Kidz Franchise · 2024 FDDAnswer from 2024 FDD Document
lopment Agreement, Franchise Agreements for all Hyper Kidz Businesses open or under construction hereunder, and such other then-current ancillary agreements being required by us of new mul
Source: Item 23 — RECEIPTS (FDD pages 52–205)
What This Means (2024 FDD)
According to the 2024 Hyper Kidz Franchise Disclosure Document, a franchisee who wishes to transfer their franchise must pay a transfer fee. This fee is $15,000.
The purpose of this fee is to cover Hyper Kidz's reasonable costs associated with facilitating the transfer. These costs include the expenses incurred in processing the transfer and providing initial assistance and training to the new franchisee (the transferee).
In addition to paying the transfer fee, the franchisee must also ensure that the transferee executes Hyper Kidz's standard Multi-Unit Development Agreement, Franchise Agreements, and any other ancillary agreements required of new multi-unit developers. The franchisee must also execute a general release of claims against Hyper Kidz. This release ensures that Hyper Kidz is protected from any potential legal issues arising from the transfer.