What are the primary responsibilities of BRI as the manager for Bojangles after the securitization transaction?
Bojangles Franchise · 2025 FDDAnswer from 2025 FDD Document
As of the Closing Date of the Securitization Transaction, BRI entered into a management agreement with us to act as our manager (the "Manager"). The primary responsibilities and activities of BRI as Manager include administering collections of payments due to us, managing our assets, and performing various franchising, marketing, development, real estate, intellectual property, operational oversight, and reporting services on our behalf, which includes support and services that are provided to Bojangles franchisees under their Development Agreements and Franchise Agreements. BRI also manages and operates any company-operated Restaurants that we or our affiliates own or may develop in the future. BRI also acts as our franchise sales broker. We pay management fees to BRI for these services. However, as the franchisor, we are responsible and accountable to you to make sure that all services we promise to perform under your Development Agreement and Franchise Agreement or other agreement you sign with us are performed in compliance with the applicable agreement, regardless of who performs these services on our behalf.
Source: Item 1 — THE FRANCHISOR AND ANY PARENTS, PREDECESSORS AND AFFILIATES (FDD pages 7–11)
What This Means (2025 FDD)
According to Bojangles's 2025 Franchise Disclosure Document, following the securitization transaction on October 6, 2020, Bojangles Restaurants, Inc. (BRI) took on significant managerial responsibilities. BRI's role as manager includes administering the collection of payments due to Bojangles Opco, LLC, managing the company's assets, and providing a range of franchising services. These services encompass marketing, development, real estate management, intellectual property oversight, operational support, and reporting. These responsibilities also include support and services provided to Bojangles franchisees under their Development Agreements and Franchise Agreements.
BRI also manages and operates any company-owned Bojangles restaurants, including those that Bojangles Opco, LLC or its affiliates may develop in the future. Furthermore, BRI functions as Bojangles Opco, LLC’s franchise sales broker. In return for these services, Bojangles Opco, LLC pays management fees to BRI.
Despite BRI's role as manager, Bojangles Opco, LLC, as the franchisor, retains ultimate responsibility and accountability to franchisees. This means Bojangles Opco, LLC is obligated to ensure that all services promised under the Development Agreement, Franchise Agreement, or any other agreement are performed in compliance with the terms, regardless of whether BRI or another party carries out those services. This arrangement provides a degree of separation between the day-to-day management and the overall franchisor responsibility, but it also places the onus on Bojangles Opco, LLC to oversee BRI's performance and ensure franchisee satisfaction.