Where can I find the 'Development Information Sheet' for a Bang Cookies franchise, and is it part of the agreement?
Bang_Cookies Franchise · 2024 FDDAnswer from 2024 FDD Document
The aggregate number of Development Shops (including the First Development Shop) (collectively, referred to as the "Total Development Shops") that are authorized by this Agreement and required for development, subject to the terms of this Agreement and each respective Franchise Agreement, is set forth and defined in the Development Information Sheet.
The Development Area is and shall constitute the geographic area set forth and identified in the Development Information Sheet.
The Development Information Sheet is attached as Schedule A to this Agreement and is incorporated into and made a part of this Agreement. To be effective the Development Information Sheet must be completed and signed by Franchisor.
Source: Item 23 — RECEIPTS (FDD pages 56–245)
What This Means (2024 FDD)
According to Bang Cookies' 2024 Franchise Disclosure Document, the Development Information Sheet is a crucial component for franchisees planning to develop multiple Bang Cookies shops. The Development Information Sheet outlines the specifics of the development agreement, including the number of shops a franchisee is obligated to open and the designated geographic area for development. This sheet is attached as Schedule A to the Multi-Unit Development Agreement, signifying that it is an integral part of the agreement.
Specifically, the Development Information Sheet defines the 'Total Development Shops' authorized under the agreement and the 'Development Area' where the franchisee is permitted to develop Bang Cookies shops. The document emphasizes that franchisees must strictly adhere to the 'Development Schedule' outlined in the Development Information Sheet, which dictates the timeline for opening and operating new locations. Failure to meet these obligations can result in the termination of the agreement and any future development rights.
For a prospective Bang Cookies multi-unit franchisee, understanding the Development Information Sheet is essential. It not only specifies the development obligations but also grants a limited exclusivity within the defined Development Area, preventing Bang Cookies from opening or licensing other franchises in that territory, provided the franchisee remains compliant with the agreement. However, the operating territories for individual shops may be smaller than the overall Development Area, as determined by each respective Franchise Agreement. Therefore, carefully reviewing Schedule A and understanding the development schedule is a critical step in evaluating the multi-unit franchise opportunity with Bang Cookies.