What must a Golden Krust Caribbean Restaurant franchisee obtain before operating the Restaurant from a site other than the Premises?
Golden_Krust_Caribbean_Restaurant Franchise · 2024 FDDAnswer from 2024 FDD Document
You agree not to open the Restaurant for business until:
- (1) we approve the Restaurant as developed in accordance with our specifications and standards;
- (2) pre-opening training has been completed to our satisfaction;
- (3) the initial franchise fee and all other amounts then due to us having been paid; and
- (4) we have been furnished with copies of all insurance policies required by this Agreement or in the Brand Standards Manual, or such other evidence of insurance coverage and payment of premiums as we request or accept.
You agree to open the Restaurant for business within one hundred eighty (180) days after we approve your site and five (5) days after we notify you that the conditions set forth in this Paragraph have been satisfied.
Source: Item 22 — CONTRACTS (FDD page 35)
What This Means (2024 FDD)
The 2024 Franchise Disclosure Document for Golden Krust Caribbean Restaurant specifies several requirements a franchisee must meet before opening their restaurant at the approved location, referred to as "the Premises."
According to the FDD, a franchisee must not open the Golden Krust Caribbean Restaurant for business until Golden Krust Caribbean Restaurant approves the Restaurant as developed in accordance with their specifications and standards. The franchisee must also complete pre-opening training to Golden Krust Caribbean Restaurant's satisfaction. Additionally, the initial franchise fee and all other due amounts must be paid to Golden Krust Caribbean Restaurant. Finally, the franchisee must furnish copies of all required insurance policies or evidence of coverage and premium payments.
Once these conditions are met and the site is approved, the franchisee is expected to open the Golden Krust Caribbean Restaurant within 180 days of site approval and 5 days after notification that all specified conditions have been satisfied. These stipulations ensure that each Golden Krust Caribbean Restaurant location meets the brand's standards before commencing operations.