What is the duration of the search period allowed to a Best Brains franchisee under the Option Agreement?
Best_Brains Franchise · 2025 FDDAnswer from 2025 FDD Document
Franchisor hereby grants to Franchisee the right for 90 days ("Deposit Period") to enter into one a lease for a Center location and to obtain from Franchisor a Franchise Agreement for such possible new franchise territory.
Franchisee shall pay to Franchisor, at the time of execution of this Agreement, a nonrefundable deposit of $2,500 for the rights described in Section 1 above. If Franchisee secures a lease for a Center location and new Franchise Agreement for that location, then the $2,500 shall be considered a deposit against the initial franchise fee on the new territory. If a Center location and new Franchise Agreement are not obtained in the 90 day period, then the $2,500 payment to Franchisor is nonrefundable as consideration for its rights given up under this Option Agreement.
Source: Item 12 — TERRITORY (FDD pages 28–29)
What This Means (2025 FDD)
According to the 2025 Best Brains Franchise Disclosure Document, a franchisee is granted a 90-day period, referred to as the "Deposit Period", to find a location for their center and secure a new Franchise Agreement. This right is granted under the Option Agreement.
During this 90-day search period, the franchisee explores the possibility of acquiring an additional franchise territory from Best Brains. This option allows the franchisee time to assess potential locations and negotiate a lease agreement.
To secure this 90-day right, the franchisee must pay Best Brains a nonrefundable deposit of $2,500 upon execution of the Option Agreement. If the franchisee successfully secures a lease and a new Franchise Agreement within the 90-day period, this $2,500 deposit is credited towards the initial franchise fee for the new territory. However, if the franchisee does not obtain a lease and new Franchise Agreement within the 90-day period, Best Brains retains the $2,500 as consideration for the rights given up under the Option Agreement.