Where can I find the definition of "Appraisal Date" in the Body Brain Center FDD?
Body_Brain_Center Franchise · 2025 FDDAnswer from 2025 FDD Document
ATTACHMENT "A"
TO BODY & BRAIN FRANCHISE AGREEMENT
DEFINITIONS
"Account" is defined in Section 13.5.
"Acquired Assets" is defined in Section 21.2(a).
"Advertising Campaign" is defined in Section 9.1(a).
"Agencies" is defined in Section 21.1(x).
"Agreement" is defined in the Introductory Paragraph.
"Alternative Channels of Distribution" means all channels of distribution other than retail sales made to customers while physically present in a Body & Brain Center, including, but not limited to: (i) sales over the Internet or through catalogs; (ii) sales through stores selling health or healing products (other than Body & Brain Centers operating under the Marks); and (iii) on-site sales to groups at a business (i.e., worksite classes) or customers at their homes (including sales made by Body & Brain home-based franchisees).
"Appraisal Date" is defined in Section 21.2(a).
Source: Item 23 — RECEIPT (FDD pages 43–178)
What This Means (2025 FDD)
According to Body Brain Center's 2025 Franchise Disclosure Document, the definition of "Appraisal Date" can be found in Attachment A, which is part of the franchise agreement definitions. Specifically, the FDD states that the term "Appraisal Date" is defined in Section 21.2(a).
Section 21.2(a) generally discusses Body Brain Center's right to purchase the franchisee's center and/or its assets upon termination or expiration of the franchise agreement. If Body Brain Center elects to exercise this option, the "Appraisal Date" is defined as the effective date of the termination or expiration of the agreement. This date is used to determine the fair market value of the Body & Brain Center, which will be ascertained by an independent business appraiser.
For a prospective franchisee, understanding the "Appraisal Date" is crucial because it sets the point in time for valuing the business if Body Brain Center decides to purchase it back at the end of the franchise term or upon earlier termination. This valuation directly impacts the financial compensation the franchisee would receive, so it's important to understand how this date is determined and how the appraisal process works, as detailed further in Section 21.2.