What are the obligations of the All States M.E.D. franchisee regarding the development schedule?
All_States_M_E_D Franchise · 2024 FDDAnswer from 2024 FDD Document
You agree that for our consideration in allowing the Development Schedule set forth above, we may keep as non-refundable all initial franchise fees and Development Fee you may have paid to us at any time.
5. RELATION TO FRANCHISE AGREEMENT
This Agreement forms a part of the Franchise Agreement entered into at or about the same time as this Agreement and is subject to the terms of such Franchise Agreement, to the extent such terms are not inconsistent with the terms of this Agreement.
This Agreement and all exhibits to this Agreement constitute the entire agreement between the parties related to the subject matter of this Agreement and supersedes any and all prior negotiations, understandings, representations, and agreements. Notwithstanding the foregoing, nothing in this or in any related agreement is intended to disclaim the representations made in the franchise disclosure document.
Source: Item 23 — RECEIPTS (FDD pages 44–174)
What This Means (2024 FDD)
According to the 2024 All States M.E.D. Franchise Disclosure Document, the obligations of the franchisee regarding the development schedule are outlined in Exhibit E, specifically Appendix B, which is the Development Schedule. This schedule is part of the Area Development Agreement.
The Area Development Agreement grants the developer the right to develop and operate a specific number of franchised locations within a defined territory. The franchisee agrees that the initial franchise fees and development fees paid to All States M.E.D. may be kept as non-refundable consideration for allowing the Development Schedule.
Prospective All States M.E.D. franchisees should carefully review Appendix B to understand the specific timelines and requirements for opening each location. Failure to adhere to the development schedule could result in the loss of franchise fees and development fees, as these are non-refundable. It is important to discuss the development schedule in detail with All States M.E.D. to ensure that the proposed timeline is feasible and aligns with the franchisee's capabilities and resources.