What was the operating lease right-of-use asset at inception for Dermani Medspa on January 1, 2022?
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)
Based on the 2025 Dermani Medspa FDD, the document does not explicitly state the operating lease right-of-use asset at inception on January 1, 2022. However, the FDD does provide information regarding the company's lease for office space.
The FDD mentions in the notes to the financial statements from December 31, 2023, that the company executed a lease for office space which commenced on March 26, 2021, with a 63-month term. The current lease expires June 25, 2026, with an option to extend for an additional 60 months through July 1, 2031. The lease allows for a suspension of the initial 3 months of lease payments, after which the lease expense is $3,612 per month, increasing by 3% annually. The company's incremental borrowing rate of 3.25% on the day the lease was obtained was used as the discount rate in order to determine present value.
For a prospective Dermani Medspa franchisee, understanding the initial right-of-use asset value is crucial for assessing the financial obligations associated with leasing a location. Since this specific figure is not provided in the FDD, it is recommended that potential franchisees ask the franchisor directly for this information. This will allow for a more accurate assessment of the initial investment and ongoing lease-related expenses.