The sale of a franchise by a franchisee for the franchisee’s own account and the sale of the entire area franchise owned by a subfranchisor for the subfranchisor’s own account are exempted from s. 553.21 if the sale is not effected by or through a franchisor. A sale is not effected by or through a franchisor merely because a franchisor has a right to approve or disapprove a different franchisee or because a franchisor imposes or has the right to impose a fee or charge to reimburse the franchisor for reasonable and actual expenses incurred in connection with the sale.
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