For Lees Famous Recipe, what is the deadline to sign the Franchise Agreement for each development period?
Lees_Famous_Recipe Franchise · 2025 FDDAnswer from 2025 FDD Document
You must execute all the Franchise Agreements and open all of the Lee's Famous Recipe Restaurants in accordance with the dates set forth on the Development Schedule, regardless of (i) the requirement of a greater investment, (ii) your financial condition or the performance of prior Lee's Famous Recipe Restaurants, or (iii) any other circumstances, financial or otherwise.
if you fail to meet your development obligations under the Development Schedule for any single Development Period, and fail to cure such default within thirty (30) days of receiving notice thereof
Source: Item 23 — RECEIPTS (FDD pages 70–287)
What This Means (2025 FDD)
According to the 2025 Lees Famous Recipe Franchise Disclosure Document, the deadline to sign the Franchise Agreement for each restaurant is dictated by the Development Schedule. The Development Schedule outlines the specific dates by which a franchisee must execute all Franchise Agreements and open all required Lees Famous Recipe restaurants.
Lees Famous Recipe requires franchisees to adhere strictly to the Development Schedule, irrespective of increased investment requirements, the franchisee's financial condition, the performance of existing restaurants, or any other financial or circumstantial factors. Failure to meet the development obligations within any single Development Period constitutes a default, potentially leading to the termination of the Area Development Agreement if not cured within thirty days of notice.
Prospective franchisees should carefully review the Development Schedule, understand the financial and operational commitments required, and assess their ability to meet these obligations within the specified timeframes. It is also important to note that Lees Famous Recipe retains the right to modify or terminate a franchisee's territorial rights or reduce the number of restaurants they are authorized to develop if the franchisee fails to comply with the Development Schedule or otherwise defaults on the Area Development Agreement.