What is the Kidokinetics franchisee required to do if there is a change of ownership?

According to Kidokinetics's 2024 Franchise Disclosure Document, if there is a change of ownership, the franchisee must immediately provide Kidokinetics with a copy of the updated list of all owners of the entity. Additionally, the franchisee must make a list of its owners available to Kidokinetics at any time upon request.

This requirement ensures that Kidokinetics is always aware of who owns and controls each franchise location. This is a standard practice in franchising, as the franchisor needs to maintain oversight and ensure that the owners meet their standards.

Furthermore, the FDD states that a transfer of any stock in the Franchisee if it is a corporation or a transfer of any ownership rights in Franchisee if it is a partnership, a limited liability company or limited partnership is a Transfer and is prohibited without prior written consent of Franchisor. Kidokinetics may void any transfer made without such approval. If Franchisee has complied fully with this Agreement, Franchisor will not unreasonably withhold its consent of a Transfer that meets the following requirements: The proposed transferee must be an individual of good moral character or the principals of the transferee must all be of good moral character and otherwise meet Franchisor's then-applicable standards for franchisees.