This letter of intent outlines the terms and conditions for setting up a Happy Learning Center franchise location. It specifies a 3+3 year agreement term with renewable fees. The franchisee will pay a non-refundable franchise fee upfront plus applicable taxes. They will also pay monthly royalties of 15% of total sales. Within 90 days, the franchisee must have the center operational at a specified premises and will be responsible for municipal and property taxes related to the outlet. A detailed agreement will be signed within 10 days.

1. LETTER OF INTENT

2. Happy Learning Center
Date (DD/MM/YY): _____/_____/__________
Happy Palace, 1204,
North Side,Hiranandani Meadows,
Thane, Mumbai
Dear Ms. Richa Anil Kumar
Further to our discussions, we propose to record our interest in setting up of home based
“Happy Learning Center”at_______________________________________
The brief terms and conditions are as hereunder: 1. Agreement term–3+3 year term with mutually agreed renewable fee payable after
agreement tenure.
2. Commencement – Centreshould be operational within 90 days from the date of receipt of
the layout design from Happy Learning Center
3. Premise – ________________________________________.
4. Consideration – Non-Refundable/Non-Adjustable Franchise Fee of Rs. ___________ plus
the taxes applicable. It is paid along with this Letter of Intent through Cheque/DD No.
______________ dated ______________ drawn on _____________________ (payable at
Mumbai) in favour of „Happy Learning Education Trust‟. Balance amount along with the
Service Tax will be paid to you at the time of signing the Agreement or within___ daysof
signing this Letter of Intent, whichever is earlier. The franchise shall contribute annually an
amount equivalent to 3% of the gross sales towards local marketing, advertisement and
promotional activities, out of which 1.5% of gross sales will be contributed towards Central
Marketing fund.
5. Royalty – I will pay the royalties at 15%of the total monthly sales payable on a monthly
basis.
6. Agreement Copy – I have received the agreement copy and hereby agree to sign the
agreement on my free will, on preparation of the same, after I furnish my company details
within __ daysof signing this Letter of Intent.
7. Municipal and other Taxes – I shall bear Municipal Taxes, Property Taxes etc. related to the
Outlet
8. I understand that all amounts once paid to Happy Learning Centerare neither refundable
nor adjustable.
Confidential
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Letter of Intent

3. Happy Learning Center
A detailed agreement is to be signed by both parties by within 10 days of the signing of the
letter of Intent.
Please confirm the above by signing herein below.
Looking forward to a long and mutually beneficial relationship
Sincerely,
For‘______________________’
Private Limited
Agreed and Confirmed
For Happy Learning Center
________________________________________________________________
Authorized Signatory
__________________________
__________________________
Confidential
Page 3 of 3
Letter of Intent