Can Beem Light Sauna decide not to complete the purchase after the purchase price is determined?
Beem_Light_Sauna Franchise · 2025 FDDAnswer from 2025 FDD Document
- (d) Closing.
We will pay the purchase price at the closing, which will take place within 60 days after the purchase price is determined, although we may decide after the purchase price is determined not to complete the purchase.
We may set off against the purchase price, and reduce the purchase price by, any and all amounts you owe us or our Affiliates.
We are entitled to all customary representations, warranties, and indemnities in our asset purchase, including (a) representations and warranties as to (i) ownership and condition of, and title to, assets, (ii) liens and encumbrances on assets, (iii) validity of contracts and agreements, and (iv) liabilities affecting the assets, contingent or otherwise, and (b) indemnities for all actions, events and conditions that existed or occurred in connection with the Studio or your business prior to the closing of our purchase.
Source: Item 23 — RECEIPT (FDD pages 71–230)
What This Means (2025 FDD)
According to the 2025 Beem Light Sauna Franchise Disclosure Document, Beem Light Sauna has the option to not complete the purchase of a franchise after the purchase price has been determined. The closing will occur within 60 days after the purchase price is determined.
Beem Light Sauna can also deduct any amounts owed to them or their affiliates from the purchase price. Additionally, Beem Light Sauna is entitled to customary representations, warranties, and indemnities in their asset purchase. This includes assurances regarding the ownership, condition, and title of assets, as well as any liens, encumbrances, contract validity, and liabilities affecting the assets.
Beem Light Sauna also requires indemnities for all actions, events, and conditions related to the studio or the franchisee's business before the purchase closing. This clause protects Beem Light Sauna from potential liabilities or issues that may arise from the franchisee's prior operation of the business.