What does 'Abandonment' refer to in the context of a Bang Cookies Development Agreement?

According to Bang Cookies's 2024 Franchise Disclosure Document, 'Abandonment' in the context of a Development Agreement refers to the conduct of the franchisee that indicates a willingness, desire, or intent to discontinue the development and/or operation of Bang Cookies shops in the designated development area. This includes both actions and omissions by the franchisee.

In simpler terms, if a franchisee's behavior suggests they are giving up on developing or running their Bang Cookies shops as agreed, it can be considered abandonment. This could involve failing to take necessary steps to open new locations or neglecting the operation of existing ones.

It's important for prospective Bang Cookies franchisees to understand that abandonment can lead to termination of the Development Agreement by Bang Cookies. According to the FDD, Bang Cookies has the right to terminate the agreement if the franchisee abandons their obligations, especially if this occurs for four consecutive months or any shorter period that indicates an intent to discontinue development within the Development Area. This highlights the importance of fulfilling the development obligations outlined in the agreement and maintaining active engagement in the Bang Cookies franchise.