When is the Development Fee due to Casa De Corazon?
Casa_De_Corazon Franchise · 2025 FDDAnswer from 2025 FDD Document
----------------------------------------------------------------------------------------------------------------| | Effective Date: | | | Developer: | | | Form of Developer: (SELECT ONE) | Corporation formed in the state of Limited liability company formed in the state of Partnership formed in the state of Individual residing in the state of | | Address of Developer: | [THIS RIDER CONTINUES WITH PART 2] |
RIDER
| Part 2 (Development Schedule) | |||
|---|---|---|---|
| Development Territory: | |||
| Development Schedule: | Developer agrees to open | ||
| () Franchised Businesses within the Development Territory, according to the following Development Schedule: | |||
| Date | Cumulative Number of Franchised Businesses to be Opened and Operating by Applicable Anniversary | ||
| 1st Anniversary of | At least Casa de Corazon early childhood learning centers | ||
| Effective Date | currently in operation in the Development Territory. | ||
| 2nd Anniversary of | At least Casa de Corazon early childhood learning centers | ||
| Effective Date | currently in operation in the Development Territory. | ||
| 3rd Anniversary of | At least Casa de Corazon early childhood learning centers | ||
| Effective Date | currently in operation in the Development Territory. | ||
| 4th Anniversary of | At least Casa de Corazon early |
Source: Item 23 — RECEIPTS (FDD pages 51–215)
What This Means (2025 FDD)
According to Casa De Corazon's 2025 Franchise Disclosure Document, the Development Fee is $10,000 per franchised business to be developed. The document does not specify when this fee is due.
Without a specific due date outlined in the provided documentation, prospective Casa De Corazon developers should clarify the payment schedule and terms for the development fee with the franchisor. Understanding when these fees are due is crucial for financial planning and ensuring compliance with the development agreement.
It is common practice in franchising for development fees to be paid upon signing the development agreement or according to a schedule outlined in the agreement. Since the exact timing is not detailed here, developers should seek explicit clarification from Casa De Corazon to avoid any misunderstandings or potential breaches of contract.