When does the current lease for Dermani Medspa's office space expire, and what is the length of the optional extension?
Dermani_Medspa Franchise · 2025 FDDAnswer from 2025 FDD Document
olly owned by the sole member of the Company, made advances in the amount of $30,000 to the Company. The funds were provided by Vinings to meet current obligations. The advance from Vinnings was non‐interest bearing and was repaid in 2023.
The Company executed a Trademark and System License Agreement (the "Trademark Agreement") on April 22, 2019 with Lazcoz, LLC (the "Licensor" ). The Licensor is the owner of a format and system (the "System" ) relating to the establishment, operation, management and franchising of medical spa c
Source: Item 23 — RECEIPTS (FDD pages 66–311)
What This Means (2025 FDD)
According to Dermani Medspa's 2025 Franchise Disclosure Document, the company has a lease for its office space that commenced on March 26, 2021, with an initial term of 63 months. This means the current lease is set to expire on June 25, 2026.
The lease agreement includes an option for Dermani Medspa to extend the lease for an additional 60 months. If the option is exercised, the lease would be extended through July 1, 2031.
The lease terms also specify that the initial three months of lease payments were suspended. After this suspension, the lease expense is $3,612 per month, with an annual increase of 3%. The company's incremental borrowing rate at the time the lease was obtained was 3.25%, which was used to determine the present value of the lease. For prospective franchisees, understanding the lease terms and conditions is crucial, as it directly impacts the financial obligations and operational costs of running a Dermani Medspa franchise.