Where is the Dermani Medspa office located that is subject to a lease expiring in July 2031?
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 centers, which operate under the "dermani MEDSPA®" name and the System. The Company has the right to sublicense the properties to third‐party franchisees for the operation of dermani MEDSPA® pursuant to the execution of an approved Franchise Agreement. The Trademark Agreeme
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 office space that commenced on March 26, 2021, with an initial term of 63 months. This original lease term was set to expire on June 25, 2026. However, the lease includes an option to extend it for an additional 60 months, which would extend the lease through July 1, 2031.
The FDD does not specify the exact physical address of this office space. The document only mentions that the lease allows for a suspension of the initial 3 months of lease payments, after which the lease expense is $3,612 per month, with a 3% annual increase. The company's incremental borrowing rate was 3.25% when the lease was obtained, which was used to determine the present value.
For the year ending December 31, 2023, the total cash paid for the operating lease was $45,537, and the rental expense was $64,523, which is included in general and administrative expenses. While the FDD provides details about the lease terms and expenses, it does not disclose the location of the Dermani Medspa office subject to this lease. A prospective franchisee should ask the franchisor for the specific address of the leased office space to fully understand the financial commitments and operational aspects tied to that location.