What attachment lists the owners referenced in the Learningrx franchise transfer conditions?
Learningrx Franchise · 2025 FDDAnswer from 2025 FDD Document
- (j) Anything to the contrary notwithstanding, if the proposed Transfer is (i) of a noncontrolling interest in Franchisee (and is not one of a series of Transfers which, in the aggregate with other Transfers, would constitute or result in the transfer of a controlling interest in Franchisee) and the Transfer is to one of Franchisee's owners listed in Attachment V, an immediate family member of one of Franchisee's owners listed in Attachment V; (ii) of a controlling interest in Franchisee and solely among Franchisee's owners listed in Attachment V; or (iii) of any interest in Franchisee and solely among entities that are controlled by Franchisee's Owners listed in Attachment V for estate planning purposes all of the following conditions must be met prior to or concurrently with the effective date of the proposed Transfer:
Source: Item 23 — RECEIPT (FDD pages 54–209)
What This Means (2025 FDD)
According to Learningrx's 2025 Franchise Disclosure Document, Attachment V lists the owners referenced in the franchise transfer conditions. Specifically, if a proposed transfer involves a noncontrolling interest to an owner listed in Attachment V, an immediate family member of an owner listed in Attachment V, a controlling interest solely among owners listed in Attachment V, or any interest solely among entities controlled by owners listed in Attachment V for estate planning purposes, certain conditions must be met. These conditions must be satisfied before the transfer can take effect.
This means that Learningrx franchisees looking to transfer ownership, either partially or fully, to existing owners, family members, or entities controlled by the owners, will need to consult Attachment V to ensure they comply with the specific requirements for such transfers. This attachment is crucial for understanding the approved individuals or entities for simpler transfer processes.
It is important for prospective Learningrx franchisees to review Attachment V carefully and understand the implications for future ownership changes. Knowing who is listed in Attachment V can streamline potential transfer scenarios and ensure compliance with the franchise agreement, especially concerning estate planning or transfers within the existing ownership structure.