For Crisp & Green, what criteria are used to determine compliance with the Development Schedule?
Crisp_Green Franchise · 2024 FDDAnswer from 2024 FDD Document
t control the establishment and operation of the Franchised Restaurant.
- B. The Development Fee is consideration for this Agreement and not consideration for any Franchise Agreement, is fully earned by us upon execution of this Agreement, and is nonrefundable. If you fail or choose not to develop any Franchised Restaurant that is permitted under this Agreement, you will not be entitled to any return or refund of the Development Fee or any portion thereof.
3. DEVELOPMENT SCHEDULE.
The following provisions control with respect to your development rights and obligations:
- A. You must comply with the Development Schedule requirements regarding: (i) the execution of the Franchise Agreements; (ii) the opening date for each Franchised Restaurant; and (iii) the cumulative number of Franchised Restaurants to be open and continuously operating for business in the Development Area.
Source: Item 23 — RECEIPTS (FDD pages 66–252)
What This Means (2024 FDD)
According to Crisp & Green's 2024 Franchise Disclosure Document, compliance with the Development Schedule is determined by whether the franchisee meets specific requirements related to the execution of Franchise Agreements, the opening dates of Franchised Restaurants, and the cumulative number of Franchised Restaurants that are open and continuously operating in the Development Area. The Development Schedule is outlined in a Rider, which is part of the Area Development Agreement.
To meet the Development Schedule, a prospective Crisp & Green franchisee must adhere to the timelines for signing Franchise Agreements and opening restaurants. Failure to meet these deadlines may result in Crisp & Green terminating the Area Development Agreement or altering the Development Area. However, Crisp & Green has the discretion to make these decisions.
For a restaurant to count toward the Development Schedule, it must be open and continuously operating in the Development Area for at least six months after opening. This requirement ensures that only viable, ongoing businesses contribute to the franchisee's fulfillment of the Development Schedule. This condition is important for prospective franchisees to consider, as temporary closures or operational issues could impact their compliance with the Development Schedule.