Who is the agreement between in the Crave Commercial Sub-Lease Agreement?
Crave Franchise · 2025 FDDAnswer from 2025 FDD Document
| THIS AGREEMENT made, entered and executed this | day of ,2024, by |
|---|---|
| and between, | |
| Crave WM Franchising LLC a Wyoming Limited Liability Company, located 159 | |
| N. Wolcott St. Suite 133, Casper, WY 82601 | herein after "Sublessor", and |
| , | Liability |
| a | Company located |
| Limited | at |
| , hereinafter called "Sublessee". Sublessor and Sublessee | |
| contract and agree as follows: | |
| Article I Sub-Leased Premises Sublessor hereby leases unto Sublessee the following space which consists of approximately Sublessor as Wal-Mart Store The subleased Premises is depicted on Exhibit A, attached hereto, (hereinafter "the subleased property"). | square feet of floor space located in the store commonly referred to by in the city of in the state of |
Source: Item 22 — CONTRACTS (FDD pages 62–63)
What This Means (2025 FDD)
According to Crave's 2025 Franchise Disclosure Document, the Commercial Sub-Lease Agreement is made between Crave WM Franchising LLC, identified as the "Sublessor," and the franchisee, referred to as the "Sublessee." This agreement outlines the terms and conditions under which the franchisee will lease space from Crave WM Franchising LLC, typically within a Wal-Mart store location. The document specifies that Crave WM Franchising LLC is a Wyoming Limited Liability Company located in Casper, WY.
The agreement details the specific obligations of both parties, including the sublessee's responsibility to adhere to the standards outlined in the Franchise Agreement with Crave Franchising LLC. The sublessee must use the property only as a Crave Hot Dogs & BBQ restaurant franchise. The sublessee is also responsible for following company standards as outlined in the Franchise Agreement. Failure to comply with these provisions can result in the termination of the sublease agreement without penalty to the sublessor.
The Commercial Sub-Lease Agreement includes various articles covering aspects such as the sub-leased premises, lease term, rent, and other critical conditions. For instance, the sublessee is required to provide a security deposit of $5,000 upon signing the lease. The agreement also stipulates that the sublessee must secure insurance coverage compliant with Wal-Mart standards. Understanding the roles and responsibilities defined in this agreement is crucial for any prospective Crave franchisee considering a location within a Wal-Mart store.