Under what conditions might Best Brains offer a current franchisee 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 5 — INITIAL FEES (FDD page 11)
What This Means (2025 FDD)
According to Best Brains' 2025 Franchise Disclosure Document, a current franchisee might be offered an Option Agreement if they want to explore the possibility of acquiring an additional Best Brains franchise territory. This agreement grants the franchisee the right, for a period of 90 days, to secure a lease for a new center location and to obtain a Franchise Agreement from Best Brains for that new territory.
To obtain this Option Agreement, the franchisee must pay Best Brains a nonrefundable deposit of $2,500 at the time of execution. 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, the $2,500 is retained by Best Brains as consideration for the rights granted under the Option Agreement.
This Option Agreement allows current Best Brains franchisees to explore expansion opportunities without immediately committing to a new franchise. It provides a defined period to find a suitable location and negotiate a lease, with the deposit serving as consideration for this exclusive right. The franchisee risks losing the $2,500 deposit if they are unable to finalize a new franchise agreement within the 90-day period.