Mr. Greek is an Ontario-founded Greek and Mediterranean quick-service chain with a modest, tightly held franchise network — in practice that means fewer, more direct touchpoints with the franchisor on a resale, though not necessarily faster paperwork than a larger system. Many locations also run a catering side for off-site trays and events, which adds a wrinkle a typical dine-in resale wouldn't have.
Mr. Greek resales follow the franchisor's own approval process on top of the usual purchase mechanics — here's how the two run together.
Getting approved
The offer sets price and structure, conditioned on franchisor consent, an assignable lease, and a look at how the location's off-site catering side is documented and insured.
1–2 weeks†Mr. Greek's head office reviews the proposed buyer and deal terms, and may exercise a right of first refusal before the sale can proceed.
several weeks, typically†A franchise disclosure document may still be required for this resale — Ontario courts read the resale-disclosure exemption narrowly, so franchisor involvement in the sale can trigger it even where it's framed as a private deal.
assessed early†Getting to closing
The landlord's written consent to assign the lease is pursued alongside confirming any off-site catering or event-service permits and insurance are current and transferable.
2–6 weeks†The incoming owner typically completes Mr. Greek's kitchen and, where applicable, catering-operations training before or shortly after taking over.
1–3 weeks†Funds and keys change hands, kitchen and catering inventory is counted and settled at cost, and the franchisor confirms the transfer is complete.
1 day, once conditions are met†CFA Look For A Franchise listing confirms 17 Canadian units with 5 more planned, CFA member since 1997, operating since 1988
Ontario-founded Greek/Mediterranean QSR chain with locations concentrated in the province
This is the first real decision in a Mr. Greek resale — and it changes what you're buying, what you're taking on, and how the franchise agreement moves.
| Question | Asset purchase | Share purchase |
|---|---|---|
| What you buy | The unit's kitchen equipment, catering equipment where applicable, leasehold improvements, inventory, and the franchise agreement's benefit, subject to franchisor consent. | The shares of the operating company — everything it owns, and everything it owes. |
| Franchisor consent & ROFR | Required for the specific unit, reviewed directly by a smaller, Ontario-based franchisor team. | Required for the change of control itself. |
| Catering permits & off-site service | Off-site catering typically runs under its own permit and insurance coverage, distinct from the dine-in location's standing. | Catering contracts and any related permits generally stay with the corporation. |
| The lease | Needs the landlord's written consent to assign. | Usually stays in place, unless the lease has its own change-of-control clause. |
| Tax angle | Buyer gets a stepped-up cost base on the assets purchased. | Seller may access the lifetime capital gains exemption on qualifying shares. |
| Typical use | The default for most single-unit resales. | Less common — occasionally used where an operator holds several units under one company. |
The unit's kitchen equipment, catering equipment where applicable, leasehold improvements, inventory, and the franchise agreement's benefit, subject to franchisor consent.
The shares of the operating company — everything it owns, and everything it owes.
Required for the specific unit, reviewed directly by a smaller, Ontario-based franchisor team.
Required for the change of control itself.
Off-site catering typically runs under its own permit and insurance coverage, distinct from the dine-in location's standing.
Catering contracts and any related permits generally stay with the corporation.
Needs the landlord's written consent to assign.
Usually stays in place, unless the lease has its own change-of-control clause.
Buyer gets a stepped-up cost base on the assets purchased.
Seller may access the lifetime capital gains exemption on qualifying shares.
The default for most single-unit resales.
Less common — occasionally used where an operator holds several units under one company.
We tell you which structure fits — before you sign anything.
No open-ended hourly surprises — the cost is confirmed in writing before any work begins.
| Type of work | Fee | How it's confirmed |
|---|---|---|
| Straightforward purchase or sale | Starting from $3,388.87 Our charges · taxes included | Confirmed in writing once we see the agreement. |
| Larger or more complex deal | Quoted to scope | Short call → fixed written quote before any work begins. |
| Searches, filings & third-party fees | At cost | Itemized on your invoice, not marked up. |
A single Mr. Greek location changing hands between one buyer and one seller, with a straightforward lease and no active catering contracts to reconcile.
Start my file →A location with an active off-site catering business whose permits and equipment need sorting out, or a multi-unit operator adding a Mr. Greek location to an existing portfolio.
Book a consultation →Not sure which you are? That's our job to figure out, not yours. As a rough guide, most deals under a couple of million dollars are the first kind — above that, you're usually in Mergers & Acquisitions territory.
Typically, yes — off-site catering and event trays usually run under their own permit and liability coverage, so a resale's diligence confirms both are current and either transferable or ready to be reissued to the buyer.
It can mean more direct communication, since decisions may sit with fewer people, but that's not something we can guarantee deal to deal. We still build the standard consent and ROFR timelines into your conditions rather than assuming a faster review.
Possibly. Ontario courts have read the resale-disclosure exemption narrowly, and franchisor involvement in matching a buyer to a seller can be enough to trigger a full disclosure requirement even where the deal is framed as a private resale.
It can — a location that also preps and dispatches off-site catering orders sometimes needs its use classification and any loading or staging requirements confirmed against the lease, rather than assumed to be covered by a standard restaurant use clause.
That's addressed directly in the purchase agreement and franchisor consent — whether catering accounts and equipment are included is a negotiated point, not an assumption, and the franchisor's own review will confirm what the incoming owner is actually taking on.
Related
Where we close franchise resale deals
Treadstone Law is an independent law firm. We act for buyers and sellers of franchise businesses. We are not affiliated with, endorsed by, or retained by Mr. Greek or its franchisor.
Tell us about your Mr. Greek resale — we'll point you the right way and confirm the cost in writing before any work begins.