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If purchasing an existing business with iFinance for Basecamp Fitness, from whom is the business being purchased?

Basecamp_Fitness Franchise · 2025 FDD

Answer from 2025 FDD Document

Consultations with outside counsel are conducted by telephone. Please indicate who you prefer to have represented by
outside counsel 5 .
I,, hereby acknowledge that I have personally filled out the iFinance
Agreement, the information therein is accurate to the best of my knowledge, and Guidant is entitled to rely on that information
in fulfilling the IFinance.
PROPOSED INVESTMENT; BUSINESS TRANSACTION
Are you purchasing a franchise?
Will you be purchasing an existing business with iFinance?
If yes, please answer the four following questions:
This acquisition is an:
  1. Who are you purchasing the existing business from:
If other, please specify:
  1. Does this existing business have employees that will remain with the business after you acquire it?
If yes, how many existing employees are expected to remain with the business?
  1. Does this existing business have an existing retirement plan of any type?
If yes, specify the type: If other, please specify:
  • Do you contemplate the iFinance corporation will purchase, lease or otherwise occupy real estate that is owned by you,
a family member or any entity in which you or any family member have any ownership?
If yes, please explain:
  • Do you anticipate the iFinance corporation entering into any type of commercial transaction or dealings with you, a family
member or any entity in which you or any family member have ownership?
If yes, please explain:
  • Identify any and all parties (including other entities) involved with your pending business transaction. Include any familial
relationships among those parties:
remarking a more barner.

Source: Item 23 — RECEIPTS (FDD pages 62–248)

What This Means (2025 FDD)

According to the 2025 Basecamp Fitness FDD, if a prospective franchisee is purchasing an existing Basecamp Fitness business using iFinance, they must specify from whom they are acquiring the business.

The FDD includes a questionnaire related to proposed investments and business transactions. Within this questionnaire, there is a section specifically addressing the purchase of an existing business with iFinance. One of the questions asks directly, "Who are you purchasing the existing business from?"

This information is crucial for Basecamp Fitness and Guidant (involved in iFinance) to assess the nature of the transaction, potential conflicts of interest, and ensure compliance with financial and legal requirements. It also helps in understanding the history and potential liabilities associated with the business being acquired.

Disclaimer: This information is extracted from the 2025 Franchise Disclosure Document and is provided for research purposes only. It does not constitute legal or financial advice. Consult with a franchise attorney before making any investment decisions.
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