Does the Cicis Development Incentive Program Addendum specify any deadlines for developing the required number of restaurants?
Cicis Franchise · 2025 FDDAnswer from 2025 FDD Document
"Good Standing" means that you and your affiliates, as applicable, are in compliance with all material obligations under the Development Agreement (including the Development Schedule), all Franchise Agreements between us and you or them, whether or not executed pursuant to the Development Agreement, and all other agreements between us and you or your affiliates. You agree that we will have sole discretion to determine whether particular obligations are "material" for purposes of determining good standing, and our decision will be final.
Source: Item 23 — RECEIPTS (FDD pages 65–263)
What This Means (2025 FDD)
According to Cicis's 2025 Franchise Disclosure Document, the Development Incentive Program Addendum does reference a "Development Schedule" within the context of maintaining "Good Standing." To remain in "Good Standing" and continue to be approved to participate in the Development Incentive Program, a developer and their affiliates must comply with all material obligations under the Development Agreement, including the Development Schedule.
The franchisor retains sole discretion to determine whether particular obligations are "material" for purposes of determining good standing, and their decision will be final. If a developer fails to meet the obligations, Cicis can revoke participation in the program, requiring the developer to pay the full Development Fee and Initial Franchise Fees.
However, the excerpt does not provide the specific details of what the Development Schedule entails, such as the number of restaurants to be developed within a specific time frame. A prospective franchisee should review the Development Agreement for the specific terms of the Development Schedule, including the number of restaurants required and the deadlines for opening them. Understanding these deadlines is crucial for assessing the feasibility of meeting the development obligations and maintaining eligibility for the Development Incentive Program.