To whom is the payment for the Degree Wellness lease security deposit made?
Degree_Wellness Franchise · 2025 FDDAnswer from 2025 FDD Document
| Type of Expenditure | Amount | Method of Payment | When Due | To Whom Payment Is To |
|---|---|---|---|---|
| Lease - Security Deposit | $11,318 to $34,668 | As agreed | When securing the | Third Party Provider |
| (3 months) (5) | premises |
Source: Item 7 — Estimated Initial Investment (FDD pages 22–26)
What This Means (2025 FDD)
According to Degree Wellness's 2025 Franchise Disclosure Document, the lease security deposit, which ranges from $11,318 to $34,668, is paid to a Third Party Provider. This payment is typically due when securing the premises for the Degree Wellness studio. The security deposit amount is estimated to cover up to three months of rent.
Prospective franchisees should note that the actual cost of leasing a location can vary significantly based on factors such as the facility's location, square footage, cost per square foot, renovation costs, and any required maintenance fees. It is important for franchisees to consult with their leasing agent or landlord to understand the refund policy for the security deposit before signing a lease agreement.
Understanding to whom payments are made is crucial for budgeting and financial planning. Franchisees should ensure they have a clear understanding of all third-party providers involved in the leasing process and their payment terms. This information helps in managing cash flow and avoiding potential disputes or misunderstandings during the initial setup phase of the Degree Wellness franchise.