What is the transfer fee required by Jersey Mikes for approving the transfer of the Development Agreement?
Jersey_Mikes Franchise · 2025 FDDAnswer from 2025 FDD Document
ranchisor's judgment, to develop JERSEY MIKE's restaurants, and to fulfill its obligations to Franchisor;
- (h) If the transferee and/or its Principals are an existing Jersey Mike's franchisee, the transferee and the transferee's Principals must be app
Source: Item 22 — CONTRACTS (FDD page 77)
What This Means (2025 FDD)
According to Jersey Mikes's 2025 Franchise Disclosure Document, a transfer fee of $5,000.00 is required for services related to approving the transfer of the Development Agreement. Additionally, there is a $5,000.00 transfer fee for each Franchise Agreement transferred to the transferee.
This means that if a Jersey Mikes developer wants to transfer their Development Agreement to another party, they will need to pay Jersey Mikes a $5,000 transfer fee. This fee covers the costs associated with Jersey Mikes reviewing and approving the transfer.
Furthermore, if the transfer includes existing franchise agreements, the developer will also need to pay an additional $5,000 for each franchise agreement being transferred. This could significantly increase the overall cost of the transfer, especially for developers with multiple existing locations. It is important for prospective franchisees to consider these fees when evaluating the potential costs and benefits of acquiring a Jersey Mikes development agreement.