What was the value of Dermani Medspa's operating lease liability at inception 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 Franchise Disclosure Document, the exact value of the operating lease liability at its inception on January 1, 2022, is not explicitly stated. However, the document does provide information regarding the lease for office space executed by Dermani Medspa.
The FDD mentions that the lease commenced on March 26, 2021, with a 63-month term, expiring on June 25, 2026, and includes an option to extend for an additional 60 months through July 1, 2031. The lease terms allowed 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. To determine the present value of the lease, Dermani Medspa used an incremental borrowing rate of 3.25% on the day the lease was obtained.
While the FDD provides details on the lease terms, monthly expenses, and the discount rate used, it does not specify the total initial value of the operating lease liability recognized on January 1, 2022. A prospective franchisee would need to request this specific figure from Dermani Medspa to fully understand the company's financial obligations related to this lease at that time.