Does Crown Gold Exchange offer a Multi-Unit Development Agreement?
Crown_Gold_Exchange Franchise · 2024 FDDAnswer from 2024 FDD Document
hisee that is indeterminate, determined by a third party, or determined by a formula, unless the franchise agreement specifies the maximum percentage of gross monthly sales or the maximum absolute sum that the franchisee may be required to pay.
- 3. Effective Date. This Rider is effective as of the Effective Date.
Agreed to by:
GOLDMEMBER, LLC
MARYLAND RIDER TO FRANCHISE AGREEMENT AND MULTI-UNIT DEVELOPMENT AGREEMENT
This Rider amends the Franchise and Multi-Unit Development Agreement dated (the "Agreement"), between Goldmember, LLC, a Idaho limited liability company ("Crown Gold Franchising") and, a ("Franchisee"). 1. Definitions. Disclosure Law, Business Regulation Article, §14-206, Annotated Code of Maryland. Capitalized terms used but not defined in this Rider have the meanings given in the Agreement. The "Maryland Franchise Law" means the Maryland Franchise Registration and 2. Releases, Estoppels and Waivers of Liability. act as a release, estoppel or waiver of any liability incurred under the Maryland Franchise Law. All representations requiring prospective franchisees to assent to a release, estoppel or waiver of liability are not intended to nor shall they 3. which provides for a period of Statute of Limitations. Any provision of the Agreement limitations for causes of action shall not apply to causes of action under the Maryland Franchise an action under such law within three years after the grant of the franchise. Law, Business Regulation Article, §14-227, Annotated Code of Maryland. Franchisee must bring 4. Jurisdiction. Franchisee does not waive its right to file a lawsuit alleging a cause of action Maryland. arising under the Maryland Franchise Law in any court of competent jurisdiction in the State of 5. Effective Date. This Rider is effective as of the Effective Date. Agreed to by: GOLDMEMBER, LLC Date:
Date:
MINNESOTA RIDER TO FRANCHISE AND MULTI-UNIT DEVELOPMENT AGREEMENT
This Rider amends the Franchise and Multi-Unit Development Agreement dated (the "Agreement"), between Goldmember, LLC, a Idaho limited liability company ("Crown Gold Franchising") and, a ("Franchisee").
- 1. Definitions. Capitalized terms used but not defined in this Rider have the meanings given in the Agreement. The "Minnesota Act" means Minnesota Statutes, Sections 80C.01 to 80C.22.
- 2. Amendments. The Agreement is amended to comply with the following:
Minnesota Statutes, Section 80C.21 and Minnesota Rules 2860.4400(J) prohibit the franchisor from requiring litigation to be conducted outside Minnesota, requiring waiver of a jury trial, or requiring the franchisee to consent to liquidated damages, termination penalties or judgment notes. In addition, nothing in the Franchise Disclosure Document or agreement(s) can abrogate or reduce (1) any of the franchisee's rights as provided for in Minnesota Statutes, Chapter 80C or (2) franchisee's rights to any procedure, forum, or remedies provided for by the laws of the jurisdiction.
With respect to franchises governed by Minnesota law, the franchisor will comply with Minnesota Statutes, Section 80C.14, Subd.
Source: Item 22 — CONTRACTS (FDD pages 38–39)
What This Means (2024 FDD)
Yes, according to the 2024 Franchise Disclosure Document, Crown Gold Exchange offers a Multi-Unit Development Agreement. This is evidenced by the inclusion of riders to the standard franchise agreement that specifically reference and amend the "Franchise and Multi-Unit Development Agreement." These riders are included for franchisees in Maryland, Minnesota, North Dakota, Rhode Island, and Washington.
These riders indicate that Crown Gold Exchange allows franchisees to enter into agreements to develop multiple units within a defined area. The riders serve to ensure that the Multi-Unit Development Agreement complies with specific state laws and regulations, particularly concerning franchise rights, dispute resolution, and waivers.
For a prospective franchisee, this means there is an opportunity to expand their investment and operational footprint beyond a single Crown Gold Exchange location. However, it's crucial to carefully review the terms of the Multi-Unit Development Agreement, along with the applicable state-specific riders, to understand the obligations, restrictions, and legal protections in place. Franchisees should pay close attention to aspects such as development schedules, territorial rights, and conditions for maintaining compliance with the agreement.