According to the Bambu MUD agreement, what is the 'Development Schedule'?
Bambu Franchise · 2025 FDDAnswer from 2025 FDD Document
- 3.1. Development Schedule. Franchisee agrees to develop the following number of shoppes in the Development Area, including the shoppe to be developed under the Franchise Agreement executed concurrently with this MUD Agreement, in accordance with development schedule set forth in the Addendum (the "Development Schedule"). Franchisee agrees that time is of the essence with respect to compliance with the Development Schedule, payment of the balance of the initial franchise fees under Section 2.1(b) above and any and all other obligations to be performed by Franchisee hereunder. Further, Franchisee shall continuously maintain in operation at least the number of shoppes set forth on the Development Schedule.
Source: Item 23 — Receipts (FDD pages 52–209)
What This Means (2025 FDD)
According to Bambu's 2025 Franchise Disclosure Document, the Development Schedule is referenced within the Multi-Unit Development (MUD) Agreement. The Development Schedule outlines the number of stores a franchisee agrees to develop within a specific Development Area. This schedule, found in the Addendum to the MUD Agreement, also includes deadlines for executing individual Franchise Agreements for each store.
Time is considered critical for adhering to the Development Schedule. This includes meeting the deadlines for both opening the required number of Bambu stores and paying the remaining initial franchise fees. Franchisees must also continuously operate the number of stores outlined in the Development Schedule.
Prospective franchisees should carefully review the Development Schedule in the Addendum to fully understand their obligations for opening new Bambu locations. Missing deadlines in the Development Schedule can result in the termination of the MUD Agreement by Bambu. However, if the MUD Agreement is terminated solely due to failure to meet the Development Schedule, existing Franchise Agreements remain in effect, unless the termination is due to other defaults.