In the Bang Cookies Multi-Unit Development Agreement, what is the franchisee required to provide in the Development Information Sheet?
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 the 2024 Bang Cookies Franchise Disclosure Document, the Development Information Sheet includes the aggregate number of Development Shops authorized by the agreement and required for development, as well as the Development Area. The Development Information Sheet is attached as Schedule A to the Multi-Unit Development Agreement and must be completed and signed by the franchisor to be effective.
This means that the Development Information Sheet specifies the total number of Bang Cookies shops the franchisee is obligated to develop and operate within a defined geographic area. It also outlines the geographic area, which is the territory where the franchisee has the right and obligation to develop the Bang Cookies shops.
Prospective franchisees should carefully review the Development Information Sheet to understand the scope of their development obligations and the exclusivity of their territory. They should also confirm that the franchisor has completed and signed the Development Information Sheet, as this is required for the agreement to be effective. Understanding these details is crucial for assessing the feasibility and potential profitability of the multi-unit development venture with Bang Cookies.