What is the name of the agreement used for multi-unit Fly To Fit development?
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 5 — INITIAL FEES (FDD page 12)
What This Means (2024 FDD)
According to Fly To Fit's 2024 Franchise Disclosure Document, the agreement used for multi-unit development is called the "Multi-Unit Development Agreement," which is abbreviated as "MUDA."
This agreement is made between Fly To Fit Franchise, LLC, and the franchisee. The MUDA outlines the terms and conditions under which a franchisee will develop multiple Fly To Fit businesses. It is executed on the same day as the Franchise Agreement for the initial Fly To Fit business.
Specifically, the MUDA includes a development schedule that the franchisee must adhere to for opening new Fly To Fit locations. This schedule likely specifies the number of units to be opened and the timeframe for each opening. Prospective franchisees should carefully review the MUDA to understand their obligations and the development timeline.