What exhibit to the Area Development Agreement for Buona contains the development schedule?
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 contains the development schedule. This exhibit outlines the developer's obligations to develop, open, and operate a minimum of three Buona restaurants. The schedule specifies the deadlines for signing Franchise Agreements, signing leases or purchase agreements, and commencing operations at Franchisor-approved sites.
Specifically, Exhibit B details the last dates for key milestones in the development process. These milestones include the execution of the Franchise Agreement, the execution of the lease or the date for the purchase agreement, and the commencement of operations at the approved site. The agreement also includes spaces for the initials of both the Franchisor and the Developer, indicating their acknowledgment and agreement to the terms of the development schedule.
Prospective developers should carefully review Exhibit B to understand the required timeline for opening multiple Buona restaurants. Failure to adhere to the development schedule could result in penalties or termination of the Area Development Agreement. It is important to note that compliance with the Development Schedule can also impact the initial franchise fee for subsequent locations, as a discount is offered if the developer is in compliance at the time of signing additional Franchise Agreements.