What is the deadline for opening the second Crisp & Green franchised restaurant from the date of the Franchise Agreement?
Crisp_Green Franchise · 2024 FDDAnswer from 2024 FDD Document
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. If you fail to either sign a Franchise Agreement or to open a Franchised Restaurant according to the dates set forth in the Development Schedule, we, in our sole discretion, may immediately terminate this Agreement under Section 5, or alter your Development Area as described in Section 1.C.
- B. You may not open a Franchised Restaurant under this Agreement unless you meet each of the following conditions (these conditions apply to each Franchised Restaurant to be developed in the Development Area):
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- You must not be in default of this Agreement, any Franchise Agreement entered into under this Agreement, or any other agreement between you or any of your Affiliates and us or any of our Affiliates. You also must have satisfied on a timely basis all monetary
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Source: Item 23 — RECEIPTS (FDD pages 66–252)
What This Means (2024 FDD)
The Crisp & Green 2024 Franchise Disclosure Document does not specify a deadline for opening the second franchised restaurant from the date of the Franchise Agreement. However, the document does state that the franchisee must comply with the Development Schedule requirements regarding the execution of Franchise Agreements and the opening date for each Franchised Restaurant. The Development Schedule is included in the Rider to the Development Agreement.
The FDD states that if the franchisee fails to sign a Franchise Agreement or open a Franchised Restaurant according to the dates set forth in the Development Schedule, Crisp & Green may terminate the agreement or alter the Development Area. The franchisee must enter into Crisp & Green's then-current form of Franchise Agreement for each proposed Franchised Restaurant.
To understand the specific deadlines and obligations for opening multiple Crisp & Green locations, a prospective franchisee should carefully review the Development Schedule outlined in the Rider to the Development Agreement. They should also discuss the development timeline and any potential extension options with the franchisor to ensure they can meet the required milestones.