What attachment to the Aplus Franchise Disclosure Document contains the Development Schedule that the franchisee must satisfy?
Aplus Franchise · 2024 FDDAnswer from 2024 FDD Document
4. DEVELOPMENT SCHEDULE AND MANNER FOR EXERCISING DEVELOPMENT RIGHTS
- 4.1. Separate Franchise Agreements. The Franchise Agreement for the first Store to be developed under this Agreement is the form attached as Attachment F. The Franchise Agreement for the second and each additional Store to be developed is the form of Franchisor's then-current Franchise Agreement, the terms of which may be materially different from the terms of Attachment F; provided that the initial franchise fee payable thereunder will be the amount reflected in the Summary Page.
- 4.2. Development Schedule. Recognizing that time is of the essence, you agree to satisfy the Development Schedule set forth in Attachment B.
4.3. Manner for Exercising Development Rights.
- 4.3.1.
Before exercising any development rights granted hereunder, you shall apply to Franchisor for a franchise to operate a Store.
Source: Item 22 — CONTRACTS (FDD page 68)
What This Means (2024 FDD)
According to Aplus's 2024 Franchise Disclosure Document, the Development Schedule that the franchisee must satisfy is found in Attachment B. Specifically, section 4.2 of the Development Agreement states that the franchisee agrees to satisfy the Development Schedule outlined in Attachment B, recognizing the importance of adhering to the specified timelines. Attachment B is also referenced as defining the 'Development Period' during which the franchisee has the right and obligation to construct, equip, open, and operate Aplus stores.
This attachment is a critical component of the Development Agreement, as compliance with the Development Schedule is essential for maintaining the franchisee's development rights. Failing to meet the schedule could potentially impact the franchisee's ability to develop additional Aplus stores under the agreement.
Prospective Aplus franchisees should carefully review Attachment B to fully understand the required Development Schedule and ensure they can meet the outlined milestones. Understanding the timelines and obligations within Attachment B is crucial for successfully expanding their Aplus franchise operations.