What is the document called that outlines the schedule for opening Learningrx centers in a development territory?
Learningrx Franchise · 2025 FDDAnswer from 2025 FDD Document
After you have opened your first Center, or if you possess the necessary business operational skills and financial resources, you may request one or more additional territories ("Development Territory") in which to have the rights to develop additional Centers ("Area Development Rights") within a prescribed schedule ("Development Schedule"). If we grant you such right, you will sign our standard area development agreement to open a minimum of two Centers ("Area Development Agreement"), which is attached to this Franchise Disclosure Document as Exhibit C. The Development Schedule spells out the number of Centers that you agree to have open and operating by certain benchmark dates. Each Center that you develop will be opened and operating under the terms of a separate and then-current form of Franchise Agreement for that Center, which may differ from the current Franchise Agreement included with this Franchise Disclosure Document.
Source: Item 1 — THE FRANCHISOR, AND ANY PARENT, PREDECESSORS, AND AFFILIATES (FDD pages 8–11)
What This Means (2025 FDD)
According to the 2025 Learningrx Franchise Disclosure Document, the schedule for opening Learningrx centers in a development territory is outlined in a document called the "Development Schedule". This schedule is part of the Area Development Agreement, which franchisees sign when they are granted rights to develop additional Learningrx centers in a specific territory.
The Development Schedule specifies the number of Learningrx centers a franchisee must have open and operating by certain dates. This agreement is only offered to franchisees who have already opened their first center or who possess the necessary business skills and financial resources. The Area Development Agreement itself is included as Exhibit C to the Learningrx Franchise Disclosure Document.
Each Learningrx center developed under the Area Development Agreement will operate under the terms of a separate Franchise Agreement. It's important to note that this Franchise Agreement may be different from the one included in the current Franchise Disclosure Document, meaning the terms and conditions for each new center could vary. Prospective franchisees should carefully review Exhibit C and understand the obligations outlined in the Development Schedule before entering into an Area Development Agreement with Learningrx.