Does Baya Bar provide a Multi-Unit Development Agreement as part of its franchise documents?
Baya_Bar Franchise · 2024 FDDAnswer from 2024 FDD Document
A copy of all proposed agreements regarding the franchise offering are included in this Disclosure Document, as follows:
- Exhibit B The Franchise Agreement and all attachments to it (Marks, Territory, General Release, ACH Authorization, Collateral Assignment of Lease, Statement of Ownership Interests in Franchisee, Telephone, Internet, and Social Media Listing Assignment Agreements, Spousal Guaranty, and Confidentiality and Non-Compete Agreement).
- Exhibit C -- Multi-Unit Development Agreement
- Exhibit H -- Franchisee Acknowledgement Statement, as permitted by state law. No statement, questionnaire, or acknowledgment signed or agreed to by a franchisee in connection with the commencement of the franchise relationship shall have the effect of (i) waiving any claims under any applicable state franchise law, including fraud in the inducement, or (ii) disclaiming reliance on any statement made by any franchisor, franchise seller, or other person acting on behalf of the franchisor. This provision supersedes any other term of any document executed in connection with the franchise.
Source: Item 22 — CONTRACTS (FDD page 56)
What This Means (2024 FDD)
Yes, according to Baya Bar's 2024 Franchise Disclosure Document, a Multi-Unit Development Agreement is included as part of the franchise documents. Specifically, Exhibit C of the franchise agreement is the Multi-Unit Development Agreement.
A Multi-Unit Development Agreement is a contract that allows a franchisee to develop and operate multiple Baya Bar locations within a specific territory. This type of agreement is typically used when a franchisee wants to expand rapidly and have exclusive rights to develop a certain area.
Prospective franchisees who are interested in opening multiple Baya Bar locations should carefully review Exhibit C to understand the terms and conditions of the Multi-Unit Development Agreement. This includes the development schedule, the required investment, and the territory rights granted.