What is the deadline for opening the third 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.
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 third franchised restaurant. However, it does state that the franchisee must comply with the Development Schedule, which outlines the requirements for executing Franchise Agreements and the opening dates for each franchised restaurant. The Development Schedule also specifies the cumulative number of restaurants that must be open and operating in the Development Area. Failing to meet these deadlines may result in the termination of the agreement or alteration of the Development Area, at Crisp & Green's discretion.
According to the FDD, only restaurants that are open and continuously operating for at least six months are counted towards meeting the Development Schedule requirements. This implies that simply opening a location is not sufficient; it must also maintain operations for a sustained period.
To fully understand the specific deadlines and obligations for opening multiple Crisp & Green locations, a prospective franchisee should carefully review the Development Schedule outlined in the Franchise Agreement and discuss any questions or concerns with the franchisor.