Under what conditions might Best Brains allow a current franchisee to enter into an 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 12 — TERRITORY (FDD pages 28–29)
What This Means (2025 FDD)
According to Best Brains' 2025 Franchise Disclosure Document, a current franchisee may enter into an Option Agreement to explore acquiring an additional franchise territory. This agreement grants the franchisee a 90-day period to secure a lease for a new center location and obtain a new Franchise Agreement from Best Brains for that territory. The Option Agreement outlines the terms and conditions under which the franchisee can explore this expansion opportunity.
To secure this option, 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 will be 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 granting the franchisee the exclusive right to explore the new territory during that time.
This Option Agreement provides a structured way for existing Best Brains franchisees to expand their business. It allows them to investigate new locations and secure the rights to a new territory without immediately committing to the full investment of a new franchise. The nonrefundable deposit acts as an incentive for the franchisee to actively pursue the new location while compensating Best Brains for the opportunity cost of holding the territory for the franchisee.