What were the total rent payments for the office lease for Healthsource Chiropractic in 2024?
Healthsource_Chiropractic Franchise · 2025 FDDAnswer from 2025 FDD Document
anchisee 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)
According to Healthsource Chiropractic's 2025 Franchise Disclosure Document, the company's rent payments for the office lease totaled $85,000 in 2024. The office facility is owned by a related party, SCZ Enterprises, Ltd., which is beneficially owned by the majority member of HealthSource Chiropractic, LLC.
In January 2018, an amendment to the office lease increased the monthly rent to $8,300. In December 2021, an addendum to the lease was signed, renewing it for an additional two-year term with monthly payments of $8,300 through December 31, 2023. The company is responsible for utilities, insurance, maintenance and repairs, and certain common area maintenance items.
A new lease was consummated beginning January 1, 2024, at $8,500 per month and expired October 31, 2024. This indicates a change in the lease terms during 2024, potentially affecting the total rent payments for that year. Prospective franchisees should be aware of related-party transactions and how they might affect their financial obligations.