Where can I find the amount of the Development Area Fee for a Bang Cookies franchise?
Bang_Cookies Franchise · 2024 FDDAnswer from 2024 FDD Document
In exchange for the rights set forth and granted pursuant to the terms of this Agreement, upon execution of this Agreement, Franchisee shall pay to Franchisor a development area fee (the "Development Area Fee"). The Development Area Fee is not refundable.
The amount of the Development Area Fee is set forth in the Development Information Sheet.
Franchisee agrees that the Development Area Fee is not a franchise fee and, that at the time of signing each respective Franchise Agreement, Franchisee shall pay to Franchisor an initial franchise fee and all other fees in accordance with the terms and conditions of each respective Franchise Agreement, except that the initial franchise fee shall conform to the amounts set forth in Section 4.2 of this Agreement. If the then current standard Franchise Agreement to be signed by the Franchisee respecting a Development Shop to be
Source: Item 23 — RECEIPTS (FDD pages 56–245)
What This Means (2024 FDD)
According to Bang Cookies' 2024 Franchise Disclosure Document, the specific amount of the Development Area Fee is not listed directly in the provided excerpts. However, Section 4.1 states that the amount of the Development Area Fee is set forth in the Development Information Sheet.
This means that a prospective Bang Cookies franchisee needs to refer to the Development Information Sheet, which is attached as Schedule A to the Multi-Unit Development Agreement, to find the exact fee. The Development Information Sheet should be completed and signed by Bang Cookies to be effective.
It is important for potential franchisees to carefully review the Development Information Sheet to understand the financial commitment required for securing development rights within a specific area. Since the Development Area Fee is non-refundable, understanding the amount and the terms associated with it is crucial before signing the agreement.