What was the security deposit amount for Bevaris Alliance in 2023?
Bevaris_Alliance Franchise · 2024 FDDAnswer from 2024 FDD Document
| Balance, December 31, 2022 | $ 83,368 |
|---|---|
| System marketing charges applied | ( 5,951) |
| Rent expense split | ( 2,296) |
| Un-reimbursed out of pocket expenses | 11,817 |
| Balance, December 31, 2022 | 86,938 |
| Payments to related party | ( 77,869) |
| Balance, December 31, 2023 | $ 9,069 |
9. LEASES:
Operating Lease-
On August 16, 2023, the Company's sole member entered into a lease agreement on behalf of the Company for executive offices for use as its co
Source: Item 23 — RECEIPT (FDD pages 22–88)
What This Means (2024 FDD)
Based on the 2024 Franchise Disclosure Document, the information about the security deposit amount for Bevaris Alliance in 2023 is not available. However, the document does mention the company's lease agreement for executive offices, which may involve a security deposit. The lease agreement was entered into on August 16, 2023, with a monthly rent of $2,075, effective from August 29, 2023, and an annual lease payment of $24,900, excluding tax.
To get a clear understanding of the security deposit requirements, a prospective franchisee should directly ask Bevaris Alliance about the specific amount required for the lease of the premises or any other assets. This information is crucial for assessing the initial investment and ongoing costs associated with the franchise.
Understanding the security deposit obligations is essential for a prospective franchisee to accurately assess the financial requirements and potential risks associated with investing in a Bevaris Alliance franchise. Therefore, it is recommended to seek clarification from the franchisor regarding the security deposit amount and its terms.