For Basecamp Fitness, what personal information is required for each individual guarantor?
Basecamp_Fitness Franchise · 2025 FDDAnswer from 2025 FDD Document
or Its Assignee's principal place of business. You expressly consent to jurisdiction of any state or federal court in Owner's state or Its Assignee's principal place of business or any other court so chosen by Owner. YOU EXPRESSLY CONSENT TO GOVERNING LAW, VENUE PROVIDED HEREIN AND EXPRESSLY HER
Source: Item 23 — RECEIPTS (FDD pages 62–248)
What This Means (2025 FDD)
According to Basecamp Fitness's 2025 Franchise Disclosure Document, the personal information required for each guarantor includes their signature, the date of signing (MM/DD/YYYY), mobile phone number, and email address. This information is collected as part of a personal guaranty, which ensures that the guarantor will fulfill the financial obligations if the franchisee defaults.
This requirement is a standard practice in franchising, as it provides an additional layer of security for the franchisor. By requiring a personal guaranty, Basecamp Fitness aims to ensure that there is a responsible party who is personally liable for the financial obligations of the franchise. This can be particularly important for new franchisees who may not have a long track record of business success.
Prospective Basecamp Fitness franchisees should carefully consider the implications of providing a personal guaranty. It is essential to understand the full extent of the financial obligations and potential risks involved. Franchisees should also seek legal and financial advice before signing any agreements, including the personal guaranty, to ensure they fully understand their responsibilities and liabilities.