What was the amount of the note receivable for Body Brain Center as of December 31, 2024?
Body_Brain_Center Franchise · 2025 FDDAnswer from 2025 FDD Document
nterest thereon at 5.47% per year. Borrower shall make a monthly payment in the amount of $1,048.42 for interest. The unpaid principal shall be payable in full on or before June 9, 2025 (the "Due Date").
On September 21, 2024 ("Effective Date"), Body & Brain Yoga and Health Centers, Inc., an Arizona corporation (the "Borrower") promises to pay to the order of the Company (the "Lender"), the sum of $150,000 with interest thereon at 4.73% per year. Borrower shall make a monthly payment in the amount of $591.25 for interest. The unpaid principal shall be payable in full on or before September 21, 2025 (the "Due Date).
On November 8, 2024, the Company received
Source: Item 23 — RECEIPT (FDD pages 43–178)
What This Means (2025 FDD)
According to Body Brain Center's 2025 Franchise Disclosure Document, as of December 31, 2024, Body & Brain Yoga and Health Centers, Inc. owes Body Brain Center a principal amount of $280,000. This note receivable stems from a consolidated agreement executed on November 9, 2024, which carries an annual interest rate of 4.36%.
The initial notes receivable consisted of two agreements. The first, dated June 9, 2024, was for $230,000 with a 5.47% interest rate. The second, dated September 21, 2024, was for $150,000 with a 4.73% interest rate. Body & Brain Yoga and Health Centers, Inc. made a payment of $100,000 on November 8, 2024, which led to the consolidation of the remaining balance into the new $280,000 note.
Under the consolidated agreement, Body & Brain Yoga and Health Centers, Inc. is required to make monthly interest payments of $1,017.33, with the entire unpaid principal due by November 9, 2025. This related-party transaction is important for prospective franchisees to understand, as it reflects the financial relationship between Body Brain Center and its sole member, Body & Brain Yoga and Health Centers, Inc.