What is the 'Development Schedule' for Checkers, and where is it defined?
Checkers Franchise · 2025 FDDAnswer from 2025 FDD Document
2.03 Development Obligations. You agree to exert your best efforts to fully develop the market potential for Restaurants in the Development Area. Without limiting the foregoing, you agree to open and operate in the Development Area, in accordance with and pursuant to Franchise Agreements, those cumulative numbers of Restaurants set forth in Section 3(a) of Exhibit A by the corresponding dates set forth therein and to achieve those cumulative numbers in accordance with the timelines set forth in Section 3(b) of Exhibit A (those dates and timelines collectively referred to herein as the "Development Schedule"). Time is of the essence in this Agreement, and we have no obligation under any circumstances to extend any of the dates or timelines in the Development Schedule.
Source: Item 23 — RECEIPTS (FDD pages 92–384)
What This Means (2025 FDD)
According to Checkers' 2025 Franchise Disclosure Document, the Development Schedule for Area Developers is defined in Section 3(a) of Exhibit A of the Development Agreement. The Development Schedule outlines the dates and timelines by which the Area Developer must open and operate a specific number of Checkers restaurants within their designated Development Area.
The FDD emphasizes that adhering to the Development Schedule is critical, stating that 'time is of the essence'. Checkers is under no obligation to extend any dates or timelines specified in the schedule. This strict adherence to the schedule underscores the importance Checkers places on timely market penetration and expansion by its Area Developers.
Prospective Area Developers should carefully review Exhibit A and Section 3(a) to fully understand the required development timelines and obligations. Failure to meet these deadlines could have significant consequences, potentially impacting the initial franchise fee for subsequent restaurant developments. Understanding and committing to the Development Schedule is a key aspect of the Area Developer's responsibilities and a critical factor in their success with Checkers.