Besides the right of first refusal, does the Crave Multi-Unit Development Agreement grant any other options to acquire additional Franchised Businesses in the Development Area?

According to Crave's 2025 Franchise Disclosure Document, outside of the right of first refusal, the Multi-Unit Development Agreement does not grant any other options to acquire additional Franchised Businesses in the Development Area. The FDD specifies that after the last Franchised Business to be developed within the Development Area opens, the rights under the Multi-Unit Development Agreement expire, allowing Crave and its affiliates to operate or grant franchises to others in the area, subject to existing territorial rights and the right of first refusal.

The right of first refusal for additional Franchised Businesses is offered if Crave believes it is desirable to establish more locations within the Development Area after the franchisee has met their initial development schedule and is in compliance with their agreements. The franchisee must exercise this option within 60 days of notification. If the franchisee declines or fails to exercise this right, Crave can sell the development rights to another multi-unit developer or develop the locations themselves.

This arrangement means that a Crave franchisee's ability to expand within their Development Area beyond the initial agreement is not guaranteed and depends on Crave's assessment of market conditions and the franchisee's compliance with existing agreements. It is important for prospective franchisees to understand that their development rights are limited and subject to Crave's discretion after the initial development schedule is complete.