What is included in the 'Franchised Business' definition for a Dermani Medspa franchise?

According to the 2025 Dermani Medspa FDD, the "Franchised Business" is defined as the business that manages the Medspa. This encompasses all assets of the Franchised Business operated under the Franchise Agreement, including revenue and any lease for the Premises. This definition is important for prospective franchisees as it clarifies what is considered part of the franchised business for legal and operational purposes.

Specifically, the inclusion of "all of the assets" means that everything used to operate the Dermani Medspa, such as equipment, inventory, and intellectual property, falls under the umbrella of the Franchised Business. The mention of "revenue" explicitly ties the financial performance of the medspa to the Franchised Business, which is relevant for royalty calculations and financial reporting. Additionally, including "any lease for the Premises" indicates that the physical location and its associated lease agreements are integral to the Franchised Business.

Understanding this definition is crucial for franchisees as it affects various aspects of their operations, including financial obligations, asset management, and legal compliance. Franchisees should be aware that the franchisor retains rights over the Franchised Businesses, as stated in Item 23 of the FDD, which covers receipts and other rights retained by Dermani Medspa. This definition ensures that both the franchisor and franchisee have a clear understanding of what constitutes the Franchised Business and their respective rights and responsibilities.