In the Kidokinetics Approval of Requested Assignment, what entities are parties to the agreement?

According to Kidokinetics's 2024 Franchise Disclosure Document, the Approval of Requested Assignment agreement involves several parties. These include Kidokinetics Franchise LLC, identified as the Franchisor, the Former Franchisee, and the undersigned owners of the Former Franchisee, referred to as the Owners. Additionally, the New Franchisee, described as a [corporation/limited liability company] formed in a specific state, is also a party to the agreement.

This agreement facilitates the transfer of franchise rights from the Former Franchisee to the New Franchisee, with the Franchisor's approval. The Owners of the Former Franchisee are also included, likely to ensure their consent and cooperation in the transfer process. The New Franchisee's entity type and formation state are specified, indicating the legal structure under which they will operate the franchise.

For a prospective Kidokinetics franchisee, understanding the parties involved in such an agreement is crucial, especially if they consider selling their franchise in the future. It clarifies the roles and responsibilities of each party during the transfer process and ensures that all legal and contractual obligations are met. This also highlights the importance of adhering to the franchisor's requirements for franchise transfers, including obtaining approval and ensuring the new franchisee meets the necessary criteria.