How can the Bigfoot Forestry agreement be executed?
Bigfoot_Forestry Franchise · 2025 FDDAnswer from 2025 FDD Document
must hire a Project Manager to manage at least one (1) but not more than three (3) of your Bigfoot Forestry Businesses. The Managing Owner, and each Project Manager, can manage a maximum of three (3) Bigfoot Forestry Businesses. You must hire an additional Project Manager for every three (3) additional Bigfoot Forestry Businesses you open. Each Project Manager you hire must meet all criteria and conditions set forth in the most recent Franchise Agreement executed by you.
- 5. DEVELOPMENT FEE. At the time you sign this Agreement you must pay us a development fee in the amount set forth in Part B of ATTACHMENT "A", which is calculated as the aggregate sum of the initial franchise fees imposed for all Bigfoot Forestry Businesses you are required to develop pursuant to this Agreement. The development fee is fully earned and nonrefundable upon execution of this Agreement.
- 6. DEVELOPER ENTITY. You represent that Part A of ATTACHMENT "A" includes a complete and accurate list of your Owners. Upon request, you must send us a resolution of the Developer Entity authorizing the execution of this Agreement, a copy of its organizational documents and a current Certificate of Good Standing. You may form a separate Entity to enter into each Franchise Agreement provided that: (a) the Person or Persons owning the Equity Interests (and the percentage of the Equity Interests owned) in each such Entity must be the same Person or Persons owning the Equity Interests (with the same percentage of the Equity Interests owned) in the Developer Entity;
Source: Item 23 — RECEIPT (FDD pages 42–162)
What This Means (2025 FDD)
According to Bigfoot Forestry's 2025 Franchise Disclosure Document, the execution of the Area Development Agreement involves several key steps and considerations. The agreement is made as of a specific effective date between Bigfoot Franchising, LLC, and the franchisee. If the franchisee is an entity, that entity is designated as the Developer Entity.
To formalize the agreement, Bigfoot Forestry requires that if the Developer Entity is not an individual, the franchisee must provide a resolution authorizing the execution of the agreement. Additionally, the franchisee must submit a copy of the entity's organizational documents and a current Certificate of Good Standing. This ensures that the entity is legally authorized and in good standing to enter into the agreement. Each owner of the company must sign a Franchise Owner Agreement.
Furthermore, at the time of signing the Area Development Agreement, the franchisee is obligated to pay a development fee. This fee is calculated as the total of all initial franchise fees for each Bigfoot Forestry Business the franchisee is required to develop under the agreement. It's important to note that this development fee is fully earned by Bigfoot Forestry upon the execution of the agreement and is nonrefundable, regardless of whether all the Bigfoot Forestry Businesses are eventually opened.