Buying or selling an existing New York Fries location is a smaller, faster resale than a full-service restaurant — most units sit in a mall food court with no liquor licence and a modest equipment list, so the mall's own specialty-leasing agreement, not AGCO, is usually the document that shapes the timeline.
New York Fries 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 and should build in the conditions that matter for a food-court unit: franchisor consent and the mall landlord's consent to assign the specialty-leasing agreement.
1 week†The franchisor reviews the incoming operator and the proposed terms before consenting to the transfer of that specific location.
2–4 weeks†An Arthur Wishart Act disclosure document may still be required even where the deal is framed as a private resale — the exemption is read narrowly by Ontario courts, so this gets confirmed early.
assessed early†Getting to closing
Mall specialty-leasing agreements typically carry stricter assignment clauses than a standard commercial lease — hours of operation, percentage rent, and radius restrictions are all worth confirming before relying on the existing terms.
2–4 weeks†The franchisor typically requires the incoming owner or a designated manager to complete a short training program before or shortly after closing.
1–2 weeks†Funds, keys, and equipment change hands, along with a straightforward inventory count given the counter-style format's smaller stock.
1 day, once conditions are met†Listed among Recipe Unlimited's franchisable brands on its official franchising page
Toronto-founded fries concept with a large food-court and mall footprint across Ontario
This is the first real decision in a New York Fries 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 location's assets — fryers and counter equipment, inventory, the mall lease, and the franchise agreement's benefit, subject to consent. | The shares of the operating company — every location it holds, and everything the company owes. |
| Franchisor consent & ROFR | Required for the specific location changing hands. | Required for the change of control itself, across every location the corporation operates. |
| The mall lease | Needs the mall landlord's consent to assign the specialty-leasing agreement — often the pacing item, and typically stricter than a standard commercial lease. | Usually stays in place unless the lease has its own change-of-control clause. |
| Equipment | A modest, counter-scale equipment list — fryers, holding units, and point-of-sale — confirmed as owned, leased, or financed. | Equipment stays with the company; no separate transfer is needed. |
| AGCO liquor licence | Generally not applicable — most New York Fries locations don't hold a liquor licence. | Not applicable. |
| Tax angle | Buyer gets a stepped-up cost base on the assets purchased. | Seller may access the lifetime capital gains exemption on qualifying shares. |
The location's assets — fryers and counter equipment, inventory, the mall lease, and the franchise agreement's benefit, subject to consent.
The shares of the operating company — every location it holds, and everything the company owes.
Required for the specific location changing hands.
Required for the change of control itself, across every location the corporation operates.
Needs the mall landlord's consent to assign the specialty-leasing agreement — often the pacing item, and typically stricter than a standard commercial lease.
Usually stays in place unless the lease has its own change-of-control clause.
A modest, counter-scale equipment list — fryers, holding units, and point-of-sale — confirmed as owned, leased, or financed.
Equipment stays with the company; no separate transfer is needed.
Generally not applicable — most New York Fries locations don't hold a liquor licence.
Not applicable.
Buyer gets a stepped-up cost base on the assets purchased.
Seller may access the lifetime capital gains exemption on qualifying shares.
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 food-court counter changing hands between one buyer and one seller.
Start my file →A multi-location operator selling several counters as one operating company, or a resale where a mall's specialty-leasing terms need careful review before terms are final.
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.
Generally not — most locations operate as a food-court counter without a liquor licence, which is one reason a New York Fries resale tends to move faster and involve fewer moving parts than a full-service restaurant deal.
Mall specialty-leasing agreements are often stricter than a standalone commercial lease — they can dictate hours of operation, tie rent to a percentage of sales, and restrict opening a competing location nearby. These terms get reviewed carefully before you rely on assuming the seller's lease as-is.
Not necessarily. Ontario courts have read the resale-disclosure exemption narrowly, and franchisor involvement in the resale can be enough to trigger a full disclosure requirement anyway — we confirm early whether it applies to your deal.
A counter-style unit generally means less equipment to diligence and a smaller inventory count, which is part of why food-court resales often move faster than full-service restaurant deals — though franchisor consent still sets much of the pace.
Often, yes. Buying an operating company that holds multiple locations is more commonly done as a share purchase, so every location's franchise agreement and mall lease stay intact at the same time.
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 New York Fries or its franchisor.
Tell us about your New York Fries resale — we'll point you the right way and confirm the cost in writing before any work begins.