Who is responsible for the costs associated with attending the 'Annual System Conference' for a Bang Cookies franchise?
Bang_Cookies Franchise · 2024 FDDAnswer from 2024 FDD Document
ements includes the Franchise Owner and Spouse Agreement and Guaranty, Lease Agreement Rider, Collateral Assignment of Lease and the Assignment of Telephone Numbers and Digital Media Accounts, as said agreements, individually and/or collectively, may have been entered into between the foregoing parties.
- "Annual Conference Attendance Fee" refers to and means an annual conference attendance fee to be paid by Franchisee to Franchisor in an amount determined by Franchisor but not to exceeding $1,500 annually.
- "Annual System Conference" refers to and means a conference that may be established and organized by Franchisor for the purpose of facilitating networking among Bang Cookies Shop franchisees, and general education. Franchisor shall designate and determine whether or not an Annual System Conference shall occur and, if one is established in any particular year, the dates, content and location of the Annual System Conference. The Annual System Conference shall be for a duration of not more than three consecutive days per calendar year. Franchisee is responsible for all costs and expenses associated with Franchisee's travel to and attendance at the Annual System Conference.
- "Approved Services and Products" shall have the meaning defined in the "Recitals" section of this Agreement and shall further refer to and mean those products and services that Franchisor authorizes for sale by Bang Cookies Shops.
Source: Item 23 — RECEIPTS (FDD pages 56–245)
What This Means (2024 FDD)
According to Bang Cookies's 2024 Franchise Disclosure Document, the franchisee is responsible for all costs associated with attending the Annual System Conference. This includes expenses for their personnel's travel, meals, and lodging.
In addition to covering these direct costs, Bang Cookies franchisees are also required to pay an Annual Conference Attendance Fee to the franchisor. This fee must be paid regardless of whether the franchisee attends the conference. This means that even if a franchisee chooses not to attend the Annual System Conference, they are still obligated to pay the Annual Conference Attendance Fee.
The Annual Conference Attendance Fee is determined by Bang Cookies, but it will not exceed $1,500 annually. The franchisor determines if an Annual System Conference will occur, including the dates, content, and location. The conference will not be longer than three consecutive days per calendar year.