ase the Franchised Business, which offer Franchisee is willing to accept, Franchisee must give Franchisor written notice of the terms of the offer and the name of the offeror. Franchisor may elect to purchase the Franchised Business on the same terms as contained in the offer wIn the world a franchising it often becomes necessary to allow a franchisee to transfer their franchise rights to a new entity or individual. It is kinda disconcerting to see all your hard work in the training of the franchisee and marketing go to waste. If it is a really good strong franchisee, often this is upsetting because replacing such a great franchisee may be next to impossible for the particular market.

But as we know all things change incensed change is the only constant, it is something we franchisors have to deal with. Having been in franchising for nearly two decades, it became apparent to me, that often it was best for us to buy out the franchisee and run that particular franchise outlet as a company-owned store. Thus we needed to be assured first rights of refusal in the case the franchisee wished to sell out their rights. Below is a clause that I designed and put into our franchise agreements for this very purpose;

5.6 Right of First Refusal

If at any time during the term of this Agreement Franchisee (or Master Franchisee) receives a bona fide offer to purchase the Franchised Business, which offer Franchisee is willing to accept, Franchisee must give Franchisor written notice of the terms of the offer and the name of the offeror. Franchisor may elect to purchase the Franchised Business on the same terms as contained in the offer wi

d strong franchisee, often this is upsetting because replacing such a great franchisee may be next to impossible for the particular market.

But as we know all things change incensed change is the only constant, it is something we franchisors have to deal with. Having been in franchising for nearly two decades, it became apparent to me, that often it was best for us to buy out the franchisee and run that particular franchise outlet as a company-owned store. Thus we needed to be assured first rights of refusal in the case the franchisee wished to sell out their rights. Below is a clause that I designed and put into our franchise agreements for this very purpose;

5.6 Right of First Refusal

If at any time during the term of this Agreement Franchisee (or Master Franchisee) receives a bona fide offer to purchase the Franchised Business, which offer Franchisee is willing to accept, Franchisee must give Franchisor written notice of the terms of the offer and the name of the offeror. Franchisor may elect to purchase the Franchised Business on the same terms as contained in the offer w

in franchising for nearly two decades, it became apparent to me, that often it was best for us to buy out the franchisee and run that particular franchise outlet as a company-owned store. Thus we needed to be assured first rights of refusal in the case the franchisee wished to sell out their rights. Below is a clause that I designed and put into our franchise agreements for this very purpose;

5.6 Right of First Refusal

If at any time during the term of this Agreement Franchisee (or Master Franchisee) receives a bona fide offer to purchase the Franchised Business, which offer Franchisee is willing to accept, Franchisee must give Franchisor written notice of the terms of the offer and the name of the offeror. Franchisor may elect to purchase the Franchised Business on the same terms as contained in the offer w

o sell out their rights. Below is a clause that I designed and put into our franchise agreements for this very purpose;

5.6 Right of First Refusal

If at any time during the term of this Agreement Franchisee (or Master Franchisee) receives a bona fide offer to purchase the Franchised Business, which offer Franchisee is willing to accept, Franchisee must give Franchisor written notice of the terms of the offer and the name of the offeror. Franchisor may elect to purchase the Franchised Business on the same terms as contained in the offer w

ase the Franchised Business, which offer Franchisee is willing to accept, Franchisee must give Franchisor written notice of the terms of the offer and the name of the offeror. Franchisor may elect to purchase the Franchised Business on the same terms as contained in the offer within sixty (60) business days after Franchisor’s receipt of the offer, except that in place of any non-cash consideration described in such offer, Franchisor may pay the fair market value thereof in cash. If Franchisor fails to give written notice of election or declines election within the sixty (60) business days, Franchisee may sell to the offeror on the terms offered, subject to the provisions relating to transferability as set forth on this Section 5, provided that such sale must be consummated within ninety (90) calendar days after the expiration of such sixty (60) business day period; otherwise the restrictions of this Section 5.6 shall be renewed and any sale or transfer by Franchisee of its interest in this Agreement, whether to such offeror or other individual or entity, shall again be subject to the restrictions of this Section 5.6. In the event Franchisor elects to purchase, the purchase must be completed within ninety (90) calendar days from the date of Franchisor’s notice of election to purchase. For purposes of this Section 5.6, the term “fair market value” of any noncash consider