What documents is a Buona franchisee required to furnish to the franchisor upon execution or transfer of the franchise agreement?
Buona Franchise · 2025 FDDAnswer from 2025 FDD Document
ants set forth in the Development Schedule, and your Owners must at all times own a majority control over the entity that owns each Buona franchise developed hereunder. You may develop and open any Buona Restaurant earlier than the date set forth in the Development Schedule as long as you do so in compliance with this Agreement and the applicable Franchise Agreement.
- 3.2 You must develop each Buona Restaurant in the following manner:
- (a) By giving us written notice of your intention to begin development of the next Buona Restaurant at least thirty (30) days before the execution of the Franchise Agreement for the applicable restaurant;
- (b) By submitting to us a description of the proposed site, together with a letter of intent in a form approved by us or other evidence satisfactory to us which confirms your favorable prospects for obtaining the proposed site;
- (c) By executing the then-current form of the Franchise Agreement for the applicable restaurant at the approved site and complying with its terms. We acknowledge that the franchisee for each Franchise Agreement may be a separate entity owned by your Owners.
- (d) By executing a lease, in a form approved by us, or purchase agreement for the proposed site;
Source: Item 22 — CONTRACTS (FDD page 78)
What This Means (2025 FDD)
Based on the 2025 Buona Franchise Disclosure Document, a prospective franchisee must provide several documents to Buona during the franchise agreement process. Prior to beginning development of a Buona restaurant, the franchisee must provide written notice to Buona of their intention to start development at least 30 days before executing the Franchise Agreement. The franchisee must also submit a description of the proposed site, along with a letter of intent (or other satisfactory evidence) confirming favorable prospects for obtaining the site.
Additionally, the franchisee is required to execute the then-current form of the Franchise Agreement for the specific restaurant at the approved site and adhere to its terms. The franchisee must also execute a lease (in a form approved by Buona) or a purchase agreement for the proposed site. These steps are all part of meeting the requirements for developing and opening the Buona Restaurant.
Finally, Buona retains the right to request that franchisees execute and deliver separate Franchise Agreements for each Brand, containing all the terms of the agreement pertaining to that Brand. Franchisees must return these replacement Franchise Agreements to Buona within 30 days of receipt.