Where in the Bang Cookies Franchise Agreement can I find the definition of 'Development Shop'?
Bang_Cookies Franchise · 2024 FDDAnswer from 2024 FDD Document
Franchisor grants to Franchisee the right, and Franchisee accepts the right and undertakes the obligation to develop Bang Cookies Shops, each to be developed, opened and operated by Franchisee within the Development Area (each, a "Development Shop"), provided that Franchisee develops, opens and operates such Development Shops in strict accordance with the Development Schedule, and, in accordance with the terms and provisions of each respective Franchise Agreement.
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.
Source: Item 23 — RECEIPTS (FDD pages 56–245)
What This Means (2024 FDD)
According to Bang Cookies's 2024 Franchise Disclosure Document, the definition of 'Development Shop' can be found in Section 2.1 of the agreement. Specifically, Section 2.1, titled "DEVELOPMENT GRANT AND DEVELOPMENT OBLIGATIONS," defines a 'Development Shop' as each Bang Cookies Shop that is developed, opened, and operated by the franchisee within the Development Area.
This definition is important for franchisees considering a multi-unit development agreement with Bang Cookies. It clarifies that each shop opened under the development agreement is considered a 'Development Shop' and is subject to the terms and provisions outlined in the Franchise Agreement.
The FDD also states that the aggregate number of Development Shops, including the First Development Shop, is referred to as the "Total Development Shops" and is defined in the Development Information Sheet, which is attached as Schedule A to the agreement. This sheet must be completed and signed by Bang Cookies to be effective. Therefore, prospective franchisees should carefully review Section 2.1 and Schedule A to fully understand their development obligations and the scope of their Development Area.