factual

For Basecamp Fitness, is a personal guarantee required from each individual?

Basecamp_Fitness Franchise · 2025 FDD

Answer from 2025 FDD Document

oral, written, visual or other promises, agreements, commitments, | | | | understandings, rights-of-first refusal or otherwise to you with respect to any matter, | | | | except as expressly set forth in the Franchise Agreement and/or Area Development | | | | Agreement or in an attachedwrittenAmendmentsigned byyouand us? | | | | 8. Are there any contingencies, prerequisites, or other reservations existing (excluding | | | | obtaining financing for equipment or build-out of your Basecamp Fitness Studio) that | | | | will affect your ability to sign or perform your obligations under the Franchise | | | | Agreement and/or Area Development Agreement? | | |

EXHIBIT J GUARANTY OF PERFORMANCE

GUARANTEE OF PERFORMANCE

For value received, SEB Franchising Guarantor LLC, a Delaware limited liability company (the "Guarantor"), located at 111 Weir Drive, Woodbury, Minnesota 55125, absolutely and unconditionally guarantees to assume the duties and obligations of Basecamp Fitness Franchisor LLC, located at 111 Weir Drive, Woodbury, Minnesota 55125 (the "Franchisor"), under its franchise registration in each state where the franchise is registered, and under its Franchise Agreement and Area Development Agreement identified in its 2025 Franchise Disclosure Document, as it may be amended, and as that Franchise Agreement and Area Development Agreement may be entered into with franchisees and amended, modified or extended from time to time. This guarantee continues until all such obligations of the Franchisor under its franchise registrations and the Franchise Agreement and Area Development Agreement are satisfied or until the liability of Franchisor to its franchisees under the Franchise Agreement and Area Development Agreement has been completely discharged, whichever first occurs. The Guarantor is not discharged from liability if a claim by a franchisee against the Franchisor remains outstanding. Notice of acceptance is waived. The Guarantor does not waive receipt of notice of default on the part of the Franchisor. This guarantee is binding on the Guarantor and its successors and assigns.

The Guarantor signs this guarantee at Woodbury, Minnesota, on the 28th day of March 2025.

GUARANTOR:

SEB FRANCHISING GUARANTOR LLC

James Goniea Its: Secretary

EXHIBIT K FRANCHISEE QUESTIONNAIRE

FRANCHISEE QUESTIONNAIRE – EXISTING FRANCHISEES

If you are a resident of the State of California or your franchise is located in California you are not required to sign this Questionnaire. If any California franchisee completes this Questionnaire, it is against California public policy and will be void and unenforceable, and we will destroy, disregard, and will not rely on such Questionnaire.

Do not sign this Questionnaire if you are a resident of Hawaii, Maryland, or Washington or if the franchise is to be operated in Hawaii, Maryland, or Washington. If signed or otherwise completed, this Questionnaire will not apply to any Hawaii, Maryland, or Washington franchisee.

As you know, Basecamp Fitness Franchisor LLC (the "Franchisor") and you are preparing to enter into a Franchise Agreement and/or Area Development Agreement for the operation of a franchised Basecamp® Fitness business (the "Franchise"). Please review each of the following questions carefully and provide honest responses to each question.

QUESTION YES NO
1.

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

What This Means (2025 FDD)

The 2025 Basecamp Fitness FDD does not explicitly state that a personal guarantee is required from each individual franchisee. However, it does include an exhibit for a 'GUARANTY OF PERFORMANCE' provided by SEB Franchising Guarantor LLC, which guarantees the obligations of Basecamp Fitness Franchisor LLC under its franchise registration, Franchise Agreement, and Area Development Agreement. This guarantee remains in effect until all obligations of the Franchisor are satisfied or the liability of Franchisor to its franchisees has been completely discharged.

Additionally, the FDD includes a 'FRANCHISEE QUESTIONNAIRE – PROSPECTIVE FRANCHISEES' that prospective franchisees are asked to complete. However, residents of certain states like California, Hawaii, Maryland, and Washington are not required to sign this questionnaire, and if they do, it will be considered void and unenforceable.

Because the FDD does not directly address whether individual franchisees must provide a personal guarantee, prospective franchisees should directly ask Basecamp Fitness about this requirement. They should inquire under what circumstances a personal guarantee is required, who specifically must provide the guarantee (e.g., all owners, managing members), and what the terms and conditions of such a guarantee would be.

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.