Transferring or Renewing a Franchise
Transfer of a franchise requires the franchisor's consent, conditioned on cure of defaults, a transfer fee, qualification and training of the buyer, an upgrade of the premises, execution of the current form of agreement, and a general release. Renewal is a right to a successor agreement rather than an extension, exercisable within a notice window and subject to a similar condition list. Several states restrict releases and require notice before nonrenewal.









