When is the Minimum Performance Schedule deemed completed and the Crave Multi-Unit Development Agreement set to 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 Minimum Performance Schedule outlined in the Multi-Unit Development Agreement is deemed complete, and the agreement itself will expire, once the final Franchised Business required by the agreement has opened. This schedule details the number of Crave outlets a Multi-Unit Developer is obligated to establish and operate under individual Franchise Agreements within a specific Development Area.
Attachment 1 of the Multi-Unit Development Agreement contains the Minimum Performance Schedule, which specifies the dates by which a certain number of franchise agreements must be in place and operating. The agreement emphasizes that its continuation is tied to the franchisee meeting these development obligations.
For a prospective Crave multi-unit developer, this means that their rights to develop within the designated area, and the overall agreement's term, are directly linked to their ability to open the required number of locations on time. Failure to meet the Minimum Performance Schedule could lead to termination of the agreement, potentially resulting in a loss of development rights.