Where is the development schedule for Face Foundrie Franchised Facial Bars specified?
Face_Foundrie Franchise · 2025 FDDAnswer from 2025 FDD Document
Franchise Agreement.
2. TERM
Unless sooner terminated in accordance with the provisions of this Agreement, this Agreement shall commence on the date hereof and shall expire on the earlier of (i) the date the final Franchise Agreement is executed by Area Developer in accordance with the required minimum cumulative number of Franchise Agreements to be executed for Franchised Facial Bars to be located in the Development Area as set forth in the Development Schedule, as shown in Paragraph 1 of Exhibit A; or (ii) the final date set forth in the Development Schedule, as shown in Paragraph 1 of Exhibit A (the "Expiration Date").
3. DEVELOPMENT OBLIGATIONS
- 3.1 Time is of the Essence. Recognizing that time is of the essence, Area Developer shall comply strictly with the Development Schedule. Area Developer acknowledges and agrees that the Development Schedule requires that Area Developer have executed and delivered to Franchisor Franchise Agreements for a cumulative number of Franchised Facial Bars by the end of the time periods specified in Exhibit A.
- 3.2 Identifying and Securing Sites. Area Developer shall be solely responsible for identifying, submitting for Franchisor's approval, and securing specific sites for each Franchised Facial Bar. The following terms and conditions shall apply to each Franchised Facial Bar to be developed hereunder:
- 3.2.1 Area Developer acknowledges that, other than providing its criteria for site approval for the Franchised Facial Bar, Franchisor provides no site-selection assistance. To that end, Franchisor will not visit the search area and Area Developer will be responsible to identify, and ultimately acquire, an appropriate site, acceptable to Franchisor, for the Franchised Facial Bar's operation.
Source: Item 23 — RECEIPTS (FDD pages 74–257)
What This Means (2025 FDD)
According to Face Foundrie's 2025 Franchise Disclosure Document, the development schedule for Area Developers is specified in Exhibit A of the Area Development Agreement. Paragraph 1 of Exhibit A outlines the deadlines for executing Franchise Agreements for Franchised Facial Bars. The Area Developer must adhere to this schedule, as time is considered of the essence.
The Development Schedule dictates the cumulative number of Face Foundrie Franchised Facial Bars that the Area Developer must have agreements in place for by the end of specific time periods. An Area Developer is granted development rights to develop no less than the number of Face Foundrie Facial Bars as set forth in Exhibit A to the agreement.
For compliance with the Development Schedule, only Franchised Facial Bars that the Area Developer opens and continuously operates in the Development Area for at least the first six months after opening will count towards the required number of open and operating bars. The agreement's expiration date is determined by either the date the final Franchise Agreement is executed per the Development Schedule or the final date specified in the Development Schedule itself.