If Dermani Medspa elects to purchase the interest being transferred, what is the deadline for closing the purchase?
Dermani_Medspa Franchise · 2025 FDDAnswer from 2025 FDD Document
If a transfer is proposed to be made by gift, we will designate, at our expense, an independent appraiser to determine the fair market value of the interest proposed to be transferred.
We may purchase the interest at the fair market value determined by the appraiser.
Closing on the purchase will occur within 30 days after our notice to the transferor of the appraiser's determination of fair market value.
Source: Item 23 — RECEIPTS (FDD pages 66–311)
What This Means (2025 FDD)
According to the 2025 Dermani Medspa Franchise Disclosure Document, if a transfer of interest is proposed as a gift and Dermani Medspa decides to purchase the interest, the closing on the purchase must occur within 30 days. This 30-day period starts after Dermani Medspa provides notice to the transferor regarding the independent appraiser's determination of the fair market value.
This means that once the fair market value of the gifted interest is determined by the appraiser and Dermani Medspa informs the party looking to transfer their interest, the closing process to finalize the purchase by Dermani Medspa must be completed within 30 calendar days. This timeframe allows both parties to finalize the necessary paperwork and legal requirements to complete the transaction.
It is important for a prospective Dermani Medspa franchisee to understand the implications of this clause. If they plan to transfer their interest as a gift, they should be aware that Dermani Medspa has the right of first refusal and can purchase the interest at the appraised fair market value. The franchisee should also be prepared to close the transaction within the specified 30-day period if Dermani Medspa exercises its right to purchase the interest.