With whom did Healthsource Chiropractic have a related party lease for a vehicle?
Healthsource_Chiropractic Franchise · 2025 FDDAnswer from 2025 FDD Document
9 per month. Technology fund fees are payable monthly.
NOTE N - FRANCHISE COMMITMENTS AND OBLIGATIONS:
Under the terms of the Company's standard chiropractic franchise agreement, HealthSource Chiropractic, LLC. offers a potential franchisee a specific territory and then provides training, operating manuals, software, and marketing materials.
NOTE O - RELATED PARTY LEASES:
The Company had a lease with SCZ Enterprises, Ltd. (a related party) for a vehicle. The company is responsible for all costs of operation. The lease was entered into in February 2021 and called for monthly payments of $700 and expired May 2023. This lease was renewed and expires December 31, 2025. Lease payments totaled $8,400 for 2024, $8,400 for 2023 and $8,400 for 2022.
The Company conducted its operations in an office facility, owned by a related party (SCZ Enterprises, Ltd.), and located in Avon, Ohio. SCZ Enterprises LTD is beneficia
Source: Item 23 — Receipts (FDD pages 77–282)
What This Means (2025 FDD)
Based on the 2025 Healthsource Chiropractic Franchise Disclosure Document, the provided excerpts do not contain information regarding any vehicle leases. The document discusses a lease agreement with SCZ Enterprises, Ltd. for office space, where SCZ Enterprises LTD is beneficially owned by the majority member of HealthSource Chiropractic, LLC. The lease details monthly rent payments and the franchisee's responsibilities for utilities, insurance, maintenance, and repairs. However, there is no mention of vehicle leases or related parties involved in such agreements.
As the FDD excerpts do not provide details about vehicle leases, it is important for a prospective Healthsource Chiropractic franchisee to directly ask the franchisor about any related party vehicle leases. Specifically, the franchisee should inquire whether Healthsource Chiropractic has any existing vehicle lease agreements with related parties, and if so, the terms and conditions of those leases. This information is crucial for understanding the full scope of potential financial obligations and related party transactions.
Understanding the details of any vehicle leases, including the lessor, lease terms, and associated costs, is essential for making an informed decision about investing in a Healthsource Chiropractic franchise. A prospective franchisee should also seek clarification on whether franchisees are required or incentivized to lease vehicles through specific related parties, and what alternatives are available. This due diligence will help the franchisee assess the financial implications and potential benefits or risks associated with such arrangements.