When does the Southern Steer Multi-Unit Development Agreement commence?
Southern_Steer Franchise · 2025 FDDAnswer from 2025 FDD Document
- Development Periods. At a minimum, the Multi-Unit Developer shall develop the number of Southern Steer Business in the Development Territory during each 12-month period from the Effective Date of this Agreement ("Development Period") in accordance with the Development Schedule. Notwithstanding any provision in the Franchise Agreement to the contrary, the Multi-Unit Developer will be required to open the Southern Steer Businesses developed by the Multi-Unit Developer under this Agreement according to the Development Periods set forth in the Development Schedule, and the Franchise Agreement for each of the Multi-Unit Developer's Southern Steer Businesses will be deemed to be amended accordingly. The Multi-Unit Developer agrees that time is of the essence with respect to compliance with the Development Schedule.
Source: Item 5 — and 7 of the FDD, Section 3.1 of the Franchise Agreement and Section 4.1 of the Multi-Unit Development Agreement are hereby amended to state that payment of the initial franchise fee and development fee will be deferred until We have satisfied Our pre-opening obligations, and You have commenced business operations. (FDD pages 168–290)
What This Means (2025 FDD)
According to the 2025 Southern Steer Franchise Disclosure Document, the Multi-Unit Developer must develop the number of Southern Steer businesses in the Development Territory during each 12-month period from the Effective Date of the agreement. This 12-month period is referred to as the "Development Period".
The agreement specifies that the Multi-Unit Developer must adhere to the Development Schedule outlined in Attachment A. This schedule dictates the timeline for opening Southern Steer businesses within the Development Territory. Time is of the essence with respect to compliance with the Development Schedule.
Prospective franchisees should carefully review Attachment A of the Multi-Unit Development Agreement to understand the specific Development Schedule and the obligations for opening Southern Steer locations within the designated timeframes. Failure to comply with the Development Schedule could have consequences, so understanding these requirements is crucial before entering into the agreement.