As of the date of the FDD, has Best In Class Education Center been in existence for 3 years?
Best_In_Class_Education_Center Franchise · 2025 FDDAnswer from 2025 FDD Document
BiC Franchise System Corporation is a Delaware corporation that was incorporated on February 10, 2023. Our principal business address is 4820 NE 4th St., Suite A-107, Renton, Washington 98059 and our telephone number is (425) 880-2688. Our agents for service of process are disclosed in EXHIBIT "A" (for registration states) and EXHIBIT "B" (for other states). We do not do business under any names other than "BiC Franchise System Corporation" and our tradename "Best In Class Education".
Business History
Our founder, Hao Lam, has owned and operated Centers in Washington since 2010. We began offering franchises for Centers in March 2023. We are not engaged in any business other than offering franchises for Centers and administering the franchise system. We have never offered franchises in any other line of business. We have never directly owned and operated a Center.
Source: Item 21 — FINANCIAL STATEMENTS (FDD page 47)
What This Means (2025 FDD)
According to the 2025 Best In Class Education Center Franchise Disclosure Document, BiC Franchise System Corporation was incorporated on February 10, 2023. The FDD also states that Best In Class Education Center began offering franchises in March 2023. Since the document is dated 2025, Best In Class Education Center has been in existence for at least 3 years as of the FDD date.
This means that Best In Class Education Center has a relatively short corporate history as a franchisor. Prospective franchisees should consider this when evaluating the stability and experience of the franchise system. While the founder, Hao Lam, has experience owning and operating centers since 2010, the franchising entity itself is newer.
It is important for potential franchisees to conduct thorough due diligence, including reviewing the backgrounds of the key personnel and the performance of existing franchisees, to assess the risks and opportunities associated with investing in a Best In Class Education Center franchise.