What was the total amount in USD for the purchase of materials/services from Best Brains India by Best Brains?
Best_Brains Franchise · 2025 FDDAnswer from 2025 FDD Document
( Amount in USD) PURCHASE OF MATERIALS /SERVICES 1,096,075.00 A.1 Best Brains India A.2 Advansoft International Inc 898,225.00 661,500.00 A.3 Advansoft India 97,375.08 A.4 A1 Kaiser A.5 Best Brains of Schaumburg, INC A.6 Adventures India Pvt. Ltd 86,000.00 SALE OF MATERIALS / SERVICES B.1 Best Brains of Schaumburg, INC 29,258.49 B.2 Best Brains- Canada 460,145.82 B.3 Nala Robotics 74,355.12
Source: Item 21 — FINANCIAL STATEMENTS (FDD page 42)
What This Means (2025 FDD)
According to Best Brains' 2025 Franchise Disclosure Document, Best Brains Inc. purchased $1,096,075.00 in materials/services from Best Brains India during the year ended December 31, 2023. This figure is part of a larger set of related party transactions that Best Brains engages in. These transactions are reported under an audit report annexure titled "Related Party Disclosures."
Related party transactions are common in franchising, especially when the franchisor has international operations or affiliated companies. For a prospective Best Brains franchisee, this indicates that Best Brains relies on Best Brains India for materials and services. Understanding the nature and terms of these related party transactions can be important for assessing the financial stability and operational efficiency of Best Brains.
It is important to note that these transactions are subject to scrutiny and must be disclosed in the financial statements. The auditor, Anil Malhotra & Co. LTD, has audited these financial statements and provided an opinion that they present fairly the financial position of Best Brains Inc. This audit provides some assurance that the related party transactions are conducted in accordance with accounting principles.