Who is the franchisor in the Multi-Unit Development Agreement for Crown Gold Exchange?
Crown_Gold_Exchange Franchise · 2024 FDDAnswer from 2024 FDD Document
| This Multi-Unit Development Agreement (this "MUDA") is made between Goldmember, LLC, a | |
|---|---|
| Idaho | |
| limited liability company | |
| ("Crown Gold Franchising") and, a | |
| ("Franchisee") on the Effective Date. |
Source: Item 23 — RECEIPTS (FDD pages 39–114)
What This Means (2024 FDD)
According to Crown Gold Exchange's 2024 Franchise Disclosure Document, the Multi-Unit Development Agreement (MUDA) is made between Goldmember, LLC, operating as Crown Gold Franchising, and the franchisee. This agreement outlines the terms and conditions under which a franchisee can develop multiple Crown Gold Exchange businesses.
Crown Gold Franchising retains certain rights and imposes conditions on the franchisee's ability to develop additional Crown Gold Exchange locations. For instance, the franchisee must demonstrate sufficient financial and organizational capacity to manage each new business. Additionally, the franchisee must comply with all brand standards at their existing Crown Gold Exchange locations and avoid defaulting on any agreements with Crown Gold Franchising.
The MUDA includes provisions for termination, specifying that Crown Gold Franchising can terminate the agreement if the franchisee fails to meet the development schedule or defaults on any franchise agreement. However, the franchisee's commitment is treated as an option, limiting liability for lost future revenues if the agreement is terminated due to the franchisee's default. The agreement is governed by the laws of Idaho, and any disputes will be resolved according to those laws.