What is the name of the schedule included in the Beard Papas Multi-Unit Development Agreement that contains deadlines for developing and opening each Shop?
Beard_Papas Franchise · 2025 FDDAnswer from 2025 FDD Document
If we approve your request, in addition to signing a Franchise Agreement in the form attached as Exhibit E, you may enter into a Multi-Unit Development Agreement attached to this Disclosure Document as Exhibit F, to develop and operate multiple Shops. The total number of Shops that you will be required to develop and operate under a Multi-Unit Development Agreement will vary from three Shops to 10 Shops, as negotiated at the time of signing the Multi-Unit Development Agreement. Each Shop must be developed by you within a designated geographic area (the "Development Area") and each Shop must be developed and operated under the terms of our then current individual unit Franchise Agreement which may differ from the Franchise Agreement included with this Disclosure Document. Your Multi-Unit Development Agreement will include a development schedule (the "Development Schedule") containing a deadline by which you must develop and open each Shop. Your Development Schedule may vary depending on your Development Area and the number of Shops that you are required to develop.
Source: Item 1 — THE FRANCHISOR AND ANY PARENTS, PREDECESSORS AND AFFILIATES (FDD pages 8–10)
What This Means (2025 FDD)
According to Beard Papas's 2025 Franchise Disclosure Document, a Multi-Unit Development Agreement includes a schedule called the "Development Schedule." This schedule contains the deadlines by which a franchisee must develop and open each Beard Papas shop.
The Development Schedule is a critical component of the Multi-Unit Development Agreement because it sets the pace for the franchisee's expansion. The specific deadlines within the Development Schedule can vary, depending on the Development Area and the number of shops the franchisee is required to develop. This implies that Beard Papas tailors the development timeline to the unique circumstances of each multi-unit franchisee.
Prospective franchisees should carefully review the Development Schedule to ensure that the deadlines are realistic and achievable, given their resources and capabilities. Failure to meet these deadlines could potentially result in penalties or termination of the agreement. It is important to note that the individual unit Franchise Agreement in effect at the time each shop is developed may differ from the Franchise Agreement included in the FDD.