According to Exhibit B, what is included in the description of the Buona development area?
Buona Franchise · 2025 FDDAnswer from 2025 FDD Document
iability Franchisor A Dated: Dated: ADA 2025 FRANCHISOR INITIALS - 15 - DEVELOPER INITIALS
EXHIBIT A TO THE AREA DEVELOPMENT AGREEMENT
DESCRIPTION OF DEVELOPMENT AREA
[Insert description]
FRANCHISOR: CHICAGO'S ORIGINAL ITALIAN BEEF FRANCHISING, LLC An Illinois limited liability Franchisor DEVELOPER: [ENTITY NAME] A Dated: Dated: ADA 2025 - 16 - FRANCHISOR INITIALS______ ______DEVELOPER INITIALS
EXHIBIT B TO THE AREA DEVELOPMENT AGREEMENT
DEVELOPMENT SCHEDULE
Developer is obligated under this Agreement to develop, open and operate a minimum of three (3) Buona restaurants.
Source: Item 22 — CONTRACTS (FDD page 78)
What This Means (2025 FDD)
According to Buona's 2025 Franchise Disclosure Document, Exhibit B to the Area Development Agreement outlines the development schedule for new Buona restaurants. It specifies the dates by which the developer must have signed Franchise Agreements and leases or purchase agreements for Franchisor-approved sites. The exhibit also includes a space for the franchisor and developer to initial and date the agreement.
Specifically, Exhibit B mandates that developers open and operate a minimum of three Buona restaurants. It sets deadlines for the execution of franchise agreements, lease agreements, or purchase agreements, as well as for the commencement of operations. These deadlines are crucial for developers to meet to stay in compliance with the Area Development Agreement.
Prospective Buona developers should pay close attention to the timelines outlined in Exhibit B, as failure to meet these deadlines could result in a breach of the Area Development Agreement. They should also note that the franchisor can designate separate development areas for each restaurant, with development deadlines specific to each location. This exhibit does not describe the geographic boundaries of the development area, but rather the schedule for developing the area.