What was the total amount of Body Brain Center's note receivable in 2022?
Body_Brain_Center Franchise · 2025 FDDAnswer from 2025 FDD Document
On June 9, 2022 ("Effective Date"), Body & Brain Yoga and Health Centers, Inc., an Arizona corporation ("Borrower") promises to pay to the order of the Company (the "Lender"), the sum of $230,000 with interest thereon at 3.46% per year. Borrower shall make a monthly payment in the amount of $663.17 for interest. The unpaid principal shall be payable in full on or before June 9, 2023 (the "Due Date").
On September 21, 2022 ("Effective Date"), Body & Brain Yoga and Health Centers, Inc., an Arizona corporation ("Borrower") promises to pay to the order of the Company (the "Lender"), the sum of $150,000 with interest thereon at 3.46% per year. Borrower shall make a monthly payment in the amount of $432.50 for interest. The unpaid principal shall be payable in full on or before September 21, 2023 (the "Due Date").
Source: Item 23 — RECEIPT (FDD pages 43–178)
What This Means (2025 FDD)
According to the 2025 Body Brain Center Franchise Disclosure Document, in 2022, Body & Brain Yoga and Health Centers, Inc. promised to pay Body Brain Center two sums: $230,000 with interest at 3.46% per year, and $150,000 with interest at 3.46% per year. These notes were issued on June 9, 2022, and September 21, 2022, respectively.
Both notes required monthly interest payments. The June note had monthly payments of $663.17, while the September note had monthly payments of $432.50. The entire unpaid principal for both notes was due by June 9, 2023, and September 21, 2023, respectively.
In total, the note receivable for Body Brain Center in 2022 was $380,000. These notes are related-party transactions, as Body & Brain Yoga and Health Centers, Inc. is the sole member of Body Brain Center. Prospective franchisees should be aware of the financial relationship between Body Brain Center and its parent company, as these transactions could impact the financial stability of the franchise.