Where in the Bang Cookies Franchise Agreement can I find the definition of 'Development Schedule'?
Bang_Cookies Franchise · 2024 FDDAnswer from 2024 FDD Document
"Development Schedule" shall have the meaning defined and set forth in Section 4.4 of this Agreement.
"Effective Date" shall be the date set forth, defined and referred to in the first paragraph of this Agreement.
Source: Item 23 — RECEIPTS (FDD pages 56–245)
What This Means (2024 FDD)
According to Bang Cookies' 2024 Franchise Disclosure Document, the definition of 'Development Schedule' is found in Section 4.4 of the agreement. Additionally, Section 1 contains definitions that supplement those in the Recitals, and it also defines 'Development Schedule' as having the meaning set forth in Section 4.4 of the agreement.
The Development Schedule outlines the specific timeframes ('Development Periods') and the required number of Bang Cookies shops a franchisee must open within those periods ('Newly Opened Development Shops'). It also specifies the minimum cumulative number of shops ('Cumulative Development Shops') that must be operational by the end of each Development Period. This schedule is further detailed in the Development Information Sheet, which is attached as Schedule A to the agreement.
Prospective Bang Cookies franchisees should pay close attention to the Development Schedule, as failure to meet its requirements constitutes a material breach of the agreement. The agreement emphasizes that 'time is of the essence' regarding these development obligations, meaning that strict adherence to the schedule is critical. Not meeting the schedule can lead to immediate termination of the agreement and loss of any future development rights.
Before signing the agreement, Bang Cookies requires franchisees to conduct their own investigation and analysis to ensure the Development Schedule is reasonable and viable for their Development Area. This highlights the importance of thorough due diligence and realistic planning on the franchisee's part.