What must a Pearce Bespoke franchisee do before selling any interest in the franchise to a third party?

According to the 2025 Pearce Bespoke Franchise Disclosure Document, a franchisee cannot transfer their rights and privileges granted under the Franchise Agreement without the prior written consent of Pearce Bespoke. This means that if a franchisee wishes to sell their franchise or any interest in it to a third party, they must first obtain written approval from Pearce Bespoke.

This requirement allows Pearce Bespoke to maintain control over who becomes a franchisee and ensures that any new franchisee meets their standards and qualifications. It is a common practice in franchising to have transfer restrictions to protect the brand and the overall network. Without this control, a franchisee could sell to someone who doesn't have the skills, experience, or financial resources to successfully operate the franchise, which could harm the brand's reputation.

For a prospective Pearce Bespoke franchisee, this means that if they ever decide to sell their franchise, they will need to go through an approval process with Pearce Bespoke. This process may involve providing information about the potential buyer, such as their financial background and business experience. Pearce Bespoke has the right to refuse the transfer if they do not believe the buyer is a suitable franchisee. This is an important consideration for anyone considering investing in a Pearce Bespoke franchise, as it may impact their ability to exit the business in the future.