What is the Multi-Unit Development Agreement referred to as in the context of Fly To Fit?
Fly_To_Fit Franchise · 2024 FDDAnswer from 2024 FDD Document
| This Multi-Unit Development Agreement (this "MUDA") is made between Fly To Fit Franchise, |
|---|
| LLC, a Delaware Limited Liability Company |
| ("Fly To Fit Franchise") and, a |
| ("Franchisee") on the Effective Date. |
Source: Item 23 — RECEIPTS (FDD pages 44–134)
What This Means (2024 FDD)
According to Fly To Fit's 2024 Franchise Disclosure Document, the Multi-Unit Development Agreement is referred to as "MUDA". This abbreviation is used throughout the document when referencing the agreement between Fly To Fit Franchise, LLC and the franchisee for developing multiple Fly To Fit businesses.
The MUDA outlines the terms and conditions under which a franchisee commits to opening multiple Fly To Fit locations, including the development schedule and associated fees. It also specifies that the franchisee must execute Fly To Fit's standard franchise agreement for each additional location acquired, ensuring each Fly To Fit business operates under a separate franchise agreement.
The MUDA does not automatically grant the franchisee the right to open or operate a Fly To Fit business. The franchisee's right to develop each Fly To Fit franchise after the first store is contingent upon maintaining sufficient financial and organizational capacity and compliance with all brand requirements at existing Fly To Fit businesses. Fly To Fit retains the right to terminate the MUDA if the franchisee fails to meet the development schedule or defaults on any franchise agreement.