What You Need To Know About Area Developers

By Ray Wiley

Let’s say I had the idea of launching a fast casual restaurant brand, and named it “Rapid Fired Pizza.”

Let’s also say you kept an eye on my brand for a few years, and determined it was a true success story:

It can make an amazing pizza in 180 seconds
It has a loyal and loving fanbase
It features build-your-own creations to suit any palette

You look around… you’re a library archivist in Charlottesville, Virginia. You work a reliable gig, but yearn for something more… something tastier… like running your very own restaurant!

Well, as a potential franchisee, you’ve got an option: you can get in touch with me—the franchisor—because I own the Rapid Fired concept and I’m always on the lookout for people like you, who are hungry to build new locations.

So, you agree to faithfully replicate my concept, pay me a fee for the opportunity, and we’re off to the races. You’re now a full-fledged franchisee; you have your own restaurant, and I’ve grown my brand.

But, let’s say someone else—like your sister—is more ambitious. She doesn’t just want one Rapid Fired franchise in Charlottesville, Virginia—she wants three Rapid Fired franchises across Virginia. So, she comes to me, and I learn that she’s done this before—in other states. In fact, she has an exclusive deal to develop Subway restaurants in Maryland.

Your sister knows what she’s doing. She’s got business experience, and is better capitalized than you, because she’s been successful.

I agree to make her an area developer for Rapid Fired Pizza restaurants in Virginia.

She gains the exclusive right to develop my restaurant concept throughout the state
You will be working for her, so there are no territory issues
In return, she signs a contract that obliges her to open five Rapid Fired restaurants in two years

Because your sister was born-and-raised in Virginia, and has traveled the state for years, she knows a lot about the local culture. She knows where a Rapid Fired Pizza location will likely succeed—based on demographics, competition, and local preferences. I don’t have to do all that research in a place I don’t understand, and my brand awareness spreads across Virginia.

Your sister and I share a cut of profits from all the new restaurants she opens
She’s responsible for hiring people to run them, and for assuring their commitment to my plan
In short, your sister is now an area developer in charge of my restaurant concept in Virginia

As a franchisor, I’m willing to accept the risk of securing an area developer, to realize the potential benefits of greater revenues, accelerated growth, and additional support. If it all works out, we all succeed together!

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RISKS & DISCLOSURES

We’d rather use this space to tell you more about our awesome restaurants and how passionate we are about bringing Wiley Area Development LLC dba Tasty Equity to the world, but our lawyers asked us to do this instead. So, make them happy by reading this while we get back to doing what we do best: opening and helping to run restaurants.

The information on this website was created by Wiley Area Development LLC dba Tasty Equity to assist with marketing our Regulation A share offering. The text on this website is a summary but does not contain all of the terms of our securities offering. In order to review all of the terms of our securities offering, you should review our offering circular that contains all of the terms, conditions, risk factors, and disclosures that you should read and understand before you invest in our company. The offering circular is available to download here for you to read and review before you invest. If the offering circular has been filed with the United States Securities and Exchange Commission, so you can also view it on the SEC’s website here: https://www.sec.gov by searching for “Wiley Area Development” in the search box on the top of the SEC’s website. The offering circular explains that we are offering 1,000,000 units of Class B membership in Wiley Area Development LLC dba Tasty Equity at a price of $5.00 per unit with a minimum purchase of 20 units per investor.

The SEC does not pass upon the merits of, or give its approval to, any of the securities we are offering or the terms of our offering, nor does it pass upon the accuracy or completeness of our offering circular or other selling literature. The securities we are offering are offered pursuant to an exemption from registration with the SEC; however, the SEC has not made an independent determination that the securities offered in our offering circular and in our offering are exempt from registration.

When you review our offering circular, please review all of the risk factors before making an investment in our company. An investment in our company should only be made if you are capable of evaluating the risks and merits of this investment and if you have sufficient resources to bear the entire loss of your investment, should that occur.

Generally, no sale may be made to anyone in our offering if the aggregate purchase price you pay is more than 10% of the greater of your annual income or net worth. Different rules apply to accredited investors and non-natural persons. Before making any representation that your investment does not exceed applicable thresholds, we encourage you to review Rule 251(d)(2)(i)(c) of Regulation A. For general information on investing, we encourage you to refer to www.investor.gov.

Our offering circular does not constitute an offer or solicitation in any jurisdiction in which such an offer or solicitation would be unlawful. No person has been authorized to give any information or to make any representations concerning our company other than those contained in our offering circular, and if given or made, such other information or representation must not be relied upon. Prospective investors are not to construe the contents of our offering circular, or of any prior or subsequent communications from our company or any of its employees, agents or affiliates, as investment, legal, financial or tax advice. Before investing in our offering, please review our offering circular carefully, ask any questions of the company’s management that you would like answered and consult your own counsel, accountant and other professional advisors as to legal, tax and other related matters concerning this investment.