What is the process by which Healthsource Chiropractic approves my application?
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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| Chiropractic, LLC |
| ("HealthSource") clinic in the area set forth on the attached map (the "Protected |
| Territory"), has been approved, subject to entering into a Franchise Agreement and paying the Initial |
| Franchise Fee. To continue the process of obtaining a franchise to operate a HealthSource Chiropractic |
| clinic in the Protected Territory, I am submitting this Franchise Deposit Acknowledgement (this |
| "Acknowledgement") and my deposit in the amount of $ (the "Deposit") to HealthSource. |
| Upon receipt of this signed Acknowledgement and the Deposit, HealthSource agrees to not grant the |
| Protected Territory to any third party until after, 20 (the "Deadline Date"), and to |
| provide me with access to certain training, information and materials relating to operating a HealthSource |
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- FDD. I have received the HealthSource Franchise Disclosure Document, and all Exhibits attached thereto, more than 14 calendar days before the date of my execution hereof. I have received a completed form of this Acknowledgement more than 7 business days before the date of my execution hereof.
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- Deposit Terms. In connection with making the Deposit, I understand and acknowledge the following:
- a. My entire Deposit will be applied toward the Initial Franchise Fee payable under the HealthSource Franchise Agreement, if and when I enter into a Franchise Agreement with HealthSource.
- b. Upon my submission of this Acknowledgement, my entire Deposit will be deemed earned by HealthSource for the processing of my application, for reserving the Protected Territory, providing initial training and disclosure of confidential information, and for services performed following approval of my application.
- c. If HealthSource and I do not sign a Franchise Agreement or I do not pay the entire remaining portion of the Initial Franchise Fee on or before the Deadline Date, I will not have the right to operate a HealthSource Chiropractic franchise in the Protected Territory or use any HealthSource marks, logos, information or materials, and HealthSource may grant all or any portion the Protected Territory to another person or entity.
- d. HealthSource's acceptance of the Deposit does not constitute the grant of any rights to me to operate a HealthSource chiropractic clinic or use HealthSource's marks, logos, information or materials in practice or otherwise, and that such rights may only be granted through a Franchise Agreement that has been duly executed by both me and HealthSource.
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- Non-Disclosure of Confidential Information.
Source: Item 23 — Receipts (FDD pages 77–282)
What This Means (2025 FDD)
According to the 2025 Healthsource Chiropractic Franchise Agreement, the approval of a franchise application is a multi-stage process that begins with the submission of an application and a deposit. Healthsource Chiropractic reviews the application based on the representations made within it. Upon approval, the applicant must sign a Franchise Agreement and pay the Initial Franchise Fee. The deposit is applied toward this Initial Franchise Fee.
Submitting the deposit signifies that the applicant has received the Franchise Disclosure Document (FDD) at least 14 calendar days prior to signing the acknowledgement and that they have received the completed acknowledgement form more than 7 business days before signing it. The deposit is considered earned by Healthsource Chiropractic upon submission of the acknowledgement, covering the costs of processing the application, reserving the protected territory, providing initial training, and disclosing confidential information.
However, 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 the Franchise Agreement by both parties. If the Franchise Agreement is not signed, or the Initial Franchise Fee is not paid by the specified deadline, the applicant loses the right to operate a Healthsource Chiropractic franchise in the protected territory, and Healthsource Chiropractic may grant the territory to another party.