In the Bang Cookies development schedule, what information is provided for each development period?
Bang_Cookies Franchise · 2024 FDDAnswer from 2024 FDD Document
Franchisee agrees that to induce Franchisor to enter into this Agreement, Franchisee agrees to develop, establish and operate Development Shops in strict accordance with the requirements of a development schedule (the "Development Schedule"). The Development Schedule, among other things, sets forth and defines each respective measurement period / measurement periods (each, respectively, a "Development Period") and the number of Development Shops that Franchisee must establish and open (a "Newly Opened Development Shop(s)") within the respective Development Period and, the minimum number of cumulative Development Shops (the "Cumulative Development Shops") that must be open and in operation as of the last day of each applicable Development Period.
The Development Schedule is set forth in the Development Information Sheet.
Source: Item 23 — RECEIPTS (FDD pages 56–245)
What This Means (2024 FDD)
According to Bang Cookies' 2024 Franchise Disclosure Document, the development schedule outlines key requirements for franchisees who commit to opening multiple locations. The development schedule defines each "Development Period," which is essentially a measurement period. For each of these periods, the schedule specifies the number of Bang Cookies "Development Shops" a franchisee must establish and open. These are referred to as "Newly Opened Development Shops."
In addition to the number of new stores, the development schedule also indicates the "minimum number of cumulative Development Shops" that must be open and operating by the last day of each Development Period. This means that Bang Cookies tracks not only the pace of new openings but also the overall growth and operational status of the franchisee's network of stores.
Bang Cookies requires franchisees to adhere strictly to the development schedule, as failure to meet the specified milestones can be considered a material breach of the agreement. The specific details of the Development Schedule, including the Development Area and the Total Development Shops, are found in the Development Information Sheet, which is attached as Schedule A to the agreement. Franchisees should carefully review this schedule to understand their obligations and the potential consequences of non-compliance.