When does the Crave Development Agreement expire?
Crave Franchise · 2025 FDDAnswer from 2025 FDD Document
( The Agreement authorizes and obliges Multi-Unit Developer ) "Crave" outlets to establish and operate pursuant to a Franchise Agreement for each Franchised Business. The following is Multi-Unit Developer's Minimum Performance Schedule: Minimum Cumulative Number By this Date of Franchise Agreements for Franchised Businesses to be located and Operating within the Development Area Total: upon the opening of the final Franchised Business The Minimum Performance Schedule shall be deemed completed, and this Agreement shall expire, to be developed pursuant to this Agreement. APPROVED: MULTI-UNIT DEVELOPER: CRAVE FRANCHISING, LLC Samantha Rincione CEO and COO
Source: Item 23 — RECEIPTS (FDD pages 63–253)
What This Means (2025 FDD)
According to Crave's 2025 Franchise Disclosure Document, the Multi-Unit Development Agreement expires upon the opening of the final Franchised Business to be developed pursuant to the agreement. At that point, the Minimum Performance Schedule is deemed completed, leading to the expiration of the agreement.
For a prospective Crave franchisee, this means the Development Agreement's term is directly tied to fulfilling the agreed-upon development schedule. The agreement does not have a fixed term but concludes once all franchise locations outlined in the Minimum Performance Schedule are open and operating. This incentivizes developers to adhere to the schedule to realize the full benefits of their development rights.
This expiration condition is important for franchisees to understand, as it dictates the period during which they have exclusive development rights within their designated area. Once the agreement expires, Crave and its affiliates regain the right to develop or franchise other outlets in the area, subject to any territorial rights granted in the individual Franchise Agreements and any right of first refusal. Therefore, franchisees should carefully consider the implications of the development schedule and its impact on their long-term territorial exclusivity.