What was the total value of Healthsource Chiropractic's customer deposits in 2023?
Healthsource_Chiropractic Franchise · 2025 FDDAnswer from 2025 FDD Document
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.
Source: Item 23 — Receipts (FDD pages 77–282)
What This Means (2025 FDD)
Based on the 2025 Healthsource Chiropractic Franchise Disclosure Document, information regarding the total value of customer deposits for 2023 is not explicitly provided. However, the FDD does discuss the nature of franchise deposits. Specifically, it states that the deposit will be applied toward the initial franchise fee if a Franchise Agreement is signed. Upon submission of the Franchise Deposit Acknowledgement, the deposit is deemed earned by Healthsource Chiropractic for processing the application, reserving the protected territory, providing initial training and disclosure of confidential information, and for services performed following approval of the application.
According to the FDD, if a Franchise Agreement is not signed or the remaining portion of the Initial Franchise Fee is not paid by the deadline, the prospective franchisee will not have the right to operate a Healthsource Chiropractic franchise in the protected territory. In this case, Healthsource Chiropractic may grant the territory to another person or entity. The FDD clarifies that accepting the deposit does not grant any rights to operate a Healthsource Chiropractic clinic or use Healthsource's marks, logos, information, or materials unless a Franchise Agreement is duly executed by both parties.
To fully understand the total value of customer deposits held by Healthsource Chiropractic in 2023, a prospective franchisee should consider asking the franchisor for specific financial data related to deposits received and their treatment in the company's financial statements. This information is essential for assessing the financial stability and practices of Healthsource Chiropractic.