For a Buona franchise, what is the date for opening of the Restaurant according to Exhibit B?
Buona Franchise · 2025 FDDAnswer from 2025 FDD Document
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. On or before the date set forth below, Developer is obligated by this Agreement to have signed Franchise Agreements, signed leases or purchase agreements, and commenced operating Buona restaurants:
Last date for Execution of Franchise Agreement Last date for Execution of Lease or Date for Purchase Agreement for Commencement Franchisor Approved Site of Operations Upon the execution of this Agreement FRANCHISOR: CHICAGO'S ORIGINAL ITALIAN BEEF FRANCHISING LLC DEVELOPER: [ENTITY NAME] An Illinois limited liability Franchisor A Dated: Dated: FRANCHISOR INITIALS
Source: Item 22 — CONTRACTS (FDD page 78)
What This Means (2025 FDD)
According to Buona's 2025 Franchise Disclosure Document, Exhibit B outlines the development schedule for franchisees who sign an Area Development Agreement. This agreement obligates the developer to open and operate a minimum of three Buona restaurants. The exhibit specifies the last date for the execution of the Franchise Agreement, the last date for the execution of the lease or the date for the purchase agreement, and the commencement of operations upon the execution of the agreement for a franchisor-approved site.
Prospective Buona franchisees should note that the specific dates for these milestones are determined upon the execution of the Area Development Agreement. The franchisee (referred to as the Developer in the exhibit) and Chicago's Original Italian Beef Franchising LLC (the Franchisor) will both date the agreement, establishing the timeline for development. The franchisee is required to meet the deadlines set forth in the development schedule.
It is important for potential Buona franchisees to carefully review Exhibit B of the Area Development Agreement to understand the specific obligations and deadlines for opening their restaurants. Missing these deadlines can result in penalties or termination of the agreement. Franchisees should discuss the development schedule and any potential challenges with Buona prior to signing the agreement to ensure they can meet the required timelines.