When does the Big Apple Bagels Development Agreement term expire?
Big_Apple_Bagels Franchise · 2025 FDDAnswer from 2025 FDD Document
- (1) Subject to the provisions contained herein, this Agreement shall be for a term commencing on the date hereof and expiring on the last day of the last Development Period.
Source: Item 23 — RECEIPTS (FDD pages 87–319)
What This Means (2025 FDD)
According to the 2025 Big Apple Bagels Franchise Disclosure Document, the Development Agreement term commences on the date of the agreement and expires on the last day of the last Development Period. This means the exact expiration date will depend on the specifics outlined in each individual agreement, particularly the length and structure of the Development Periods.
For a prospective Big Apple Bagels developer, understanding the Development Period is crucial. It dictates the timeframe within which they must meet their obligations to open new stores in their exclusive area. Failing to meet the minimum development quota during this period can lead to termination of the agreement.
It is important for potential developers to carefully review Section 4 of Rider B, mentioned in the FDD, to understand the specific Minimum Development Quotas and the duration of each Development Period. This information is essential for planning and ensuring compliance with the agreement, as well as understanding the full term of the agreement.