What is the 'Deposit' amount required to continue the process of obtaining a Healthsource Chiropractic franchise?
Healthsource_Chiropractic Franchise · 2025 FDDAnswer from 2025 FDD Document
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EXHIBIT K
Franchise Deposit Acknowledgment and Amendment
HEALTHSOURCE CHIROPRACTIC, LLC FRANCHISE DEPOSIT ACKNOWLEDGEMENT
TO HEALTHSOURCE CHIROPRACTIC, LLC:
| 1. Introduction. I understand that my application for the grant of a franchise to operate a HealthSource |
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| C |
Source: Item 23 — Receipts (FDD pages 77–282)
What This Means (2025 FDD)
According to the 2025 Healthsource Chiropractic Franchise Disclosure Document, the exact amount of the deposit required to continue the franchise process is not specified in the provided excerpts. However, the document does state that after application approval, a franchisee must submit a 'Franchise Deposit Acknowledgement' along with a deposit to Healthsource Chiropractic to proceed. This deposit secures the protected territory for the applicant until a specified deadline.
Upon receiving the signed acknowledgement and deposit, Healthsource Chiropractic agrees not to grant the protected territory to any other party before the 'Deadline Date'. In return, the potential franchisee gains access to training, information, and materials related to operating a Healthsource Chiropractic clinic. The deposit is later applied toward the initial franchise fee if the franchisee enters into a franchise agreement with Healthsource Chiropractic.
The FDD clarifies that Healthsource Chiropractic's acceptance of the deposit does not guarantee the right to operate a franchise. These rights are only granted upon the execution of a formal Franchise Agreement by both parties. If a Franchise Agreement is not signed, or the remaining portion of the Initial Franchise Fee is not paid by the 'Deadline Date', the applicant loses the right to the protected territory and any associated Healthsource Chiropractic benefits.
Prospective franchisees should confirm the specific deposit amount and the 'Deadline Date' with Healthsource Chiropractic. Understanding the deposit terms, including its application towards the initial franchise fee and conditions for forfeiture, is crucial before submitting the deposit and acknowledgement.