What must the Best Brains Franchisee desire to do in order to enter into the Option Agreement?
Best_Brains Franchise · 2025 FDDAnswer from 2025 FDD Document
r at law or in equity.
Each Obligor hereby waives trial by jury in any action or proceeding to which such Obligor and Holder may be parties, arising out of, in connection with or in any way pertaining to, this Note. It is agreed and understood that this waiver constitutes a waiver of trial by jury of all claims against all parties to such action or proceeding, including claims against parties who are not parties to this Note. This waiver is knowingly, willingly and voluntarily made by each Obligor, and each Obligor hereby represents that no representations of fact or opinion have been made by any individual to induce this waiver of trial by jury and that each Obligor has been represented in the signing of this Note and in the making of this waiver by independent legal counsel, or has had the opportunity to be represented by independent legal counsel selected of its own free will, and that it has had the opportunity to discuss this waiver with its counsel.
The covenants, terms and conditions of this Note shall be binding upon the heirs, personal representatives, successors and assigns of each Obligor and shall inure to the benefit of Holder, its successors and assigns.
This Note shall be construed in all respects and enforced according to the laws of the State of Illinois.
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EXHIBIT D
OPTION AGREEMENT
This Option Agreement is entered into as of the Effective Date entered below between the below named Franchisee ("Franchisee") and Best Brains, Inc. ("Franchis
Source: Item 23 — RECEIPTS (FDD pages 42–190)
What This Means (2025 FDD)
According to Best Brains' 2025 Franchise Disclosure Document, a franchisee must desire to explore the possibility of acquiring an additional franchise territory from Best Brains to enter into the Option Agreement. The Option Agreement grants the franchisee the right for 90 days to secure a lease for a center location and obtain a Franchise Agreement for a potential new franchise territory. This agreement outlines the terms and conditions under which Best Brains grants the franchisee the opportunity to expand their business.
To secure this option, the franchisee must pay a nonrefundable deposit of $2,500 at the time of executing the Option Agreement. If the franchisee successfully secures a lease and a new Franchise Agreement within the 90-day period, this $2,500 deposit will be credited towards the initial franchise fee for the new territory. However, if the franchisee does not obtain a center location and a new Franchise Agreement within the specified timeframe, the $2,500 is retained by Best Brains as consideration for the rights granted under the Option Agreement.
This Option Agreement provides a structured approach for existing Best Brains franchisees to expand their operations. It allows them to explore new territories with a limited financial commitment, while also compensating Best Brains for the opportunity cost of holding the territory for the franchisee. The non-refundable nature of the deposit underscores the franchisee's commitment to actively pursuing expansion and mitigates potential losses for Best Brains if the franchisee decides not to proceed.