What constitutes a new offer that would trigger Mr. Sandless' right of first refusal again?

According to the 2025 Mr. Sandless Franchise Disclosure Document, if a franchisee receives a legitimate offer from a third party to purchase their business or its assets, they must provide Mr. Sandless with a copy of the written offer. This offer must include all terms of the proposed sale and the identity of the potential buyer. Mr. Sandless can then exercise their right of first refusal within 30 days of receiving all necessary information.

Mr. Sandless's right of first refusal is triggered by any "material changes to the terms of the written purchase offer". This means that if the initial offer changes significantly, it is considered a new offer, and Mr. Sandless has the right to evaluate and potentially purchase the business under the revised terms. This clause protects Mr. Sandless's interests by ensuring they have the opportunity to reassess any altered purchase agreements.

For a prospective Mr. Sandless franchisee, this means that any changes to an offer to purchase their franchise must be disclosed to Mr. Sandless, restarting the 30-day review period. This could potentially delay the sale of the franchise, as Mr. Sandless has the right to evaluate each new offer. However, it also provides a degree of security, as Mr. Sandless's involvement ensures that the terms of the sale are fair and in compliance with the franchise agreement.