For a Bananas Smoothies Frozen Yogurt franchise, what is the significance of the 'Sublease Date'?
Bananas_Smoothies_Frozen_Yogurt Franchise · 2025 FDDAnswer from 2025 FDD Document
respectively.
As of December 29, 2024 and December 31, 2023, net royalties receivables from affiliate-owned franchises amounted to $15,251 and $14,987, respectively, and are included in royalties and advertising fees receivable, net in the accompanying balance sheets.
EXHIBIT J To Disclosure Document
Sublease Agreement
SUBLEASE
Sublessor ("Sublessor"):
| State of Formation: |
|---|
| Address: |
| Sublessee ("Sublessee"): |
| State of Formation: |
| Address: |
| Sublease Date ("Sublease Date"): |
| Lease ("Lease"): |
| Dated: |
| Tenant ("Tenant"): |
| Landlord ("Landlord"): |
| Premises ("Demised Premises"): as described in the Lease. |
| Guarantor: |
| This Sublease Agreement is made this day of, 20, by and between |
| Everything Yogurt Brands, LLC, a Delaware limited liability company, having an address at 25 |
| Washington Street, Morristown, New Jersey 07960 ("Sublessor") and, having an address |
| at, ("Sublessee"). |
Source: Item 23 — RECEIPT (FDD pages 58–231)
What This Means (2025 FDD)
According to the 2025 Bananas Smoothies Frozen Yogurt FDD, the 'Sublease Date' refers to the date on which the sublease agreement between Everything Yogurt Brands, LLC (as the sublessor) and the franchisee (as the sublessee) is executed. This date is a critical component of the sublease agreement, as it establishes the commencement of the franchisee's rights and responsibilities regarding the leased premises. The sublease agreement allows the franchisee to operate a Bananas Smoothies Frozen Yogurt restaurant at a specific location under the terms and conditions outlined in both the sublease and the overarching franchise agreement. The 'Sublease Date' effectively marks the point from which the franchisee can begin taking steps to set up and operate their franchise at the location.
The sublease agreement itself is contingent upon the existing lease between the landlord and Everything Yogurt Brands, LLC. The franchisee, as the sublessee, acknowledges receipt of a copy of the original lease and agrees to its terms, which are incorporated into the sublease. The Bananas Smoothies Frozen Yogurt franchisee's ability to operate is therefore subject to the terms of both the franchise agreement and the sublease, which in turn is subject to the original lease. Any modifications to the original lease by the landlord may also require amendments to the sublease agreement, highlighting the interconnectedness of these agreements.
Prospective Bananas Smoothies Frozen Yogurt franchisees should pay close attention to the 'Sublease Date' and all terms within the sublease agreement, as these dictate the conditions under which they occupy and operate their franchise location. Understanding the relationship between the sublease, the original lease, and the franchise agreement is crucial for ensuring compliance and avoiding potential conflicts or misunderstandings. Franchisees should also be aware that Everything Yogurt Brands, LLC, as the sublessor, retains certain rights, including the right to assign or sublease the premises to another franchisee under certain conditions.