What is the Transfer Fee for a Southern Steer franchise, and what does it include?

According to the 2025 Southern Steer Franchise Disclosure Document, the transfer fee is $10,000 plus the franchisor's then-current fee to attend the Initial Training Program. This fee is payable when a franchisee sells their existing Southern Steer business to a new owner, subject to Southern Steer's approval.

Specifically, the franchisee must pay the transfer fee as outlined in Section 3.2(e) of the franchise agreement. Additionally, the transferee (the new owner) or its Operating Principal and Designated Manager must successfully complete the Initial Training Program to the satisfaction of Southern Steer and pay a training fee, if any. The FDD also stipulates several conditions that must be met for the transfer to be approved, including the transferee's agreement to non-competition and non-disclosure, execution of required agreements, purchase or lease of the franchised location, assumption or payment of all obligations to Southern Steer, and payment of any applicable referral fees if a broker was involved.

It is important to note that the transfer of the franchise agreement is subject to Southern Steer's approval, and any attempted transfer without complying with the requirements outlined in Section 18 of the agreement will be void. However, if the franchisee is an individual, they can transfer the agreement to an entity wholly owned by them without paying a transfer fee or complying with Section 19, provided they give prior written notice and are not in default of their obligations under the agreement. This exception applies only if the owners of the entity are the same individuals who signed the original agreement and the transfer does not result in a change in control of the Southern Steer business.