factual

What exhibit outlines the development schedule that Buona franchisees must adhere to?

Buona Franchise · 2025 FDD

Answer 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 that franchisees must follow. This schedule details the dates by which a developer must have signed Franchise Agreements, signed leases or purchase agreements, and commenced operating Buona restaurants.

The Development Schedule requires developers to open and operate a minimum of three Buona restaurants. The agreement specifies the last date for the execution of the Franchise Agreement, the last date for the execution of the lease or date for the purchase agreement, and the date for commencement of operations upon the execution of the agreement for a franchisor-approved site.

Compliance with the Development Schedule is critical, as failure to meet these deadlines can result in financial penalties. If a franchisee is not in compliance with the Development Schedule when signing an additional franchise agreement, they may be required to pay the then-current initial franchise fee if it exceeds $32,000.00. This underscores the importance of adhering to the timelines outlined in Exhibit B to avoid additional costs.

Disclaimer: This information is extracted from the 2025 Franchise Disclosure Document and is provided for research purposes only. It does not constitute legal or financial advice. Consult with a franchise attorney before making any investment decisions.