When does the repayment period begin for Best Brains financing?
Best_Brains Franchise · 2025 FDDAnswer from 2025 FDD Document
ITEM 10. FINANCING
We offer the following financing program:
| Item Financed | Startup costs up to $30,000 will be offered to Teacher Centers. This can include but is not limited |
|---|---|
| to: furniture, build out, contractor pay, rent etc. | |
| Source of Financing | Us |
| Down Payment | Minimum of $3,000 |
| Amount Financed | Up to $30,000 |
| Interest Rate/Finance Charge | 0% |
| Period of Repayment | 24 months-beginning on the first day of class |
| Security Required | None |
| Whether a Person Other than the Franchisee Must | No |
| Personally Guarantee the Debt | |
| Prepayment Penalty | None |
| Liability Upon Default | Accelerated obligation to pay the entire amount due, pay our court costs and attorney fees incurred in collecting the debt, and termination of the franchise. |
| Waiver of Defenses or Other Legal Rights | Waiver of right to jury trial; homestead and other |
| exemptions; waiver of presentment |
Source: Item 10 — FINANCING (FDD pages 22–23)
What This Means (2025 FDD)
According to Best Brains's 2025 Franchise Disclosure Document, Best Brains offers financing for startup costs up to $30,000 for Teacher Centers. This financing can be used for furniture, build-out, contractor pay, rent, and other eligible expenses. A minimum down payment of $3,000 is required to secure the financing.
The repayment period for the financed amount is 24 months, and it begins on the first day of class. The interest rate on the financed amount is 0%, making it an attractive option for franchisees seeking financial assistance. There is no prepayment penalty, allowing franchisees to pay off the loan early without incurring additional charges.
In the event of default, the franchisee will be obligated to pay the entire amount due immediately. Additionally, the franchisee is responsible for covering court costs and attorney fees incurred by Best Brains in collecting the debt. Default can also lead to the termination of the franchise agreement. The franchisee must also waive rights to a jury trial, homestead and other exemptions, and presentment, demand, protest, and notice of dishonor.