What conditions must a Crave Cookies franchisee meet to be eligible for a renewal agreement?
Crave_Cookies Franchise · 2025 FDDAnswer from 2025 FDD Document
- 3.2 Successor Agreement. When the term of this Agreement expires, Franchisee may enter into a successor agreement for up to 2 additional periods of 5 years each, subject to the following conditions prior to each expiration:
- (i) Franchisee notifies Crave Cookies Franchising of the election to renew between 90 and 180 days prior to the end of the term;
- (ii) Franchisee (and its affiliates) are in compliance with this Agreement and all other agreements with Crave Cookies Franchising (or any of its affiliates) at the time of election and at the time of renewal;
- (iii) Franchisee has made or agrees to make (within a period of time acceptable to Crave Cookies Franchising) renovations and changes to the Business as Crave Cookies Franchising requires (including a Remodel, if applicable) to conform to the then-current System Standards;
- (iv) Franchisee and its Owners execute Crave Cookies Franchising's then-current standard form of franchise agreement and related documents (including personal guaranty), which may be materially different than this form (including, without limitation, higher and/or different fees), except that Franchisee will not pay another initial franchise fee and will not receive more renewal or successor terms than described in this Section;
- (v) Franchisee and each Owner executes a general release (on Crave Cookies Franchising's then-standard form) of any and all claims against Crave Cookies
Franchising, its affiliates, and their respective owners, officers, directors, agents and employees.
Source: Item 22 — CONTRACTS (FDD page 47)
What This Means (2025 FDD)
According to Crave Cookies's 2025 Franchise Disclosure Document, a franchisee can enter into a successor agreement for up to 2 additional periods of 5 years each, provided they meet certain conditions before each expiration. To renew their franchise agreement with Crave Cookies, a franchisee must notify Crave Cookies Franchising of their election to renew between 90 and 180 days before the current term ends.
Additionally, the franchisee (and their affiliates) must be in compliance with the current agreement and all other agreements with Crave Cookies Franchising or its affiliates, both when they elect to renew and at the time of the actual renewal. The franchisee must also complete any required renovations or changes to the business to meet the then-current System Standards, including any required remodeling, within a timeframe acceptable to Crave Cookies Franchising.
Furthermore, the franchisee and each owner must execute Crave Cookies's then-current standard franchise agreement and related documents, including a personal guaranty. These documents may differ materially from the original agreement, potentially including higher or different fees. However, the franchisee will not have to pay another initial franchise fee and will not receive more renewal or successor terms than initially described. Finally, the franchisee and each owner must execute a general release of all claims against Crave Cookies Franchising, its affiliates, and their respective owners, officers, directors, agents, and employees.