What is the purpose of the questions in the Basecamp Fitness Franchise Disclosure Document receipt?
Basecamp_Fitness Franchise · 2025 FDDAnswer from 2025 FDD Document
ios and corporate-owned studios are primarily located throughout the U.S. Consequently, the operations of the Company are affected by fluctuations in the U.S. economy and the respective state and federal regulatory and economic environments. The Company is also affected by fluctuations in the economic environment of the foreign countries in which it maintains license agreements.
Supplier Risk
During the years ended December 31, 2024 and 2023, the Company purchased approximately 53% and 50%, respectively, of all its inventory from 5 vendors.
EXHIBIT I
ELECTRONIC FUNDS TRANSFER AUTHORIZATION
ELECTRONIC TRANSFER OF FUNDS AUTHORIZATION
| QUESTION | YES | NO |
|---|---|---|
| 1. Have you received and personally reviewed the Franchise Disclosure Document | ||
| provided to you? | ||
| 2. Did you sign a receipt (Item 23) for the Franchise Disclosure Document indicating | ||
| the date you received it? | ||
| 3. Have you received and personally reviewed the Franchise Agreement and/or Area | ||
| Development Agreement and each exhibit or schedule attached to it? | ||
| 4. Are you legally eligible to work or own a business in the United States and/or Canada, | ||
| including the state or province in which the Franchise will be located? | ||
| 5. Has any employee or other person speaking on behalf of the Franchisor made any | ||
| statement or representation regarding the actual, average or projected | ||
| memberships, revenues, or profits that you, Franchisor, or any of our franchisees | ||
| have achieved in operating the Franchise, other than what is contained in the | ||
| Franchise Disclosure Document? | ||
| 6. Has any employee or other person speaking on behalf of the Franchisor made any | ||
| promise or agreement, other than those matters addressed in your Franchise | ||
| Agreement, concerning advertising, marketing, media support, market penetration, | ||
| training, support service or assistance or any other material subject relating to the | ||
| Franchise that is contrary to, or different from, the information contained in the | ||
| Franchise Disclosure Document? | ||
| 7. Has any employee or other person speaking on behalf of the Franchisor made any | ||
| other 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. Have you received and personally reviewed the Franchise Disclosure Document | ||
| provided to you? | ||
| 2. Did you sign a receipt (Item 23) for the Franchise Disclosure Document indicating | ||
| the date you received it? | ||
| 3. Have you received and personally reviewed the Franchise Agreement and/or Area | ||
| Development Agreement and each exhibit or schedule attached to it? | ||
| 4. Are you legally eligible to work or own a business in the United States and/or | ||
| Canada, including the state or province in which the Franchise will be located? | ||
| 5. Has any employee or other person speaking on behalf of the Franchisor made any | ||
| statement or representation regarding the actual, average or projected | ||
| memberships, revenues, or profits that you, Franchisor, or any of our franchisees | ||
| have achieved in operating the Franchise, other than what is contained in the | ||
| Franchise DisclosureDocument? | ||
| 6. Has any employee or other person speaking on behalf of the Franchisor made any | ||
| promise or agreement, other than those matters addressed in your Franchise | ||
| Agreement, concerning advertising, marketing, media support, market | ||
| penetration, training, support service or assistance or any other material subject | ||
| relating to the Franchise that is contrary to, or different from, the information | ||
| contained inthe Franchise Disclosure Document? | ||
| 7. Has any employee or other person speaking on behalf of the Franchisor made any | ||
| other 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 attached written Amendment signed by you and us? | ||
| 8. Are you legally eligible to travel to and attend New Franchisee Training at one of our | ||
| designated training centers in the United States? If you answer “no”, please provide | ||
| an explanation here: | ||
| _____________________________________________________________________ | ||
| _____________________________________________________________________ | ||
| 9. Are you currently involved in any other businesses/franchises that may interfere with | ||
| the non-compete obligations outlined in the Basecamp Fitness Franchise | ||
| Agreement, or any other agreements you may have with other | ||
| businesses/franchises? If yes, please describe the businesses/franchises here: | ||
| _____________________________________________________________________ | ||
| _____________________________________________________________________ | ||
| _____________________________________________________________________ | ||
| 10. 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? | ||
| 11. |
Source: Item 23 — RECEIPTS (FDD pages 62–248)
What This Means (2025 FDD)
According to Basecamp Fitness's 2025 Franchise Disclosure Document, the questionnaire included in the receipt serves to confirm that prospective franchisees have received, reviewed, and understood critical documents and information. These questions aim to verify that the franchisee has received and reviewed the Franchise Disclosure Document (FDD), Franchise Agreement, and any related exhibits. This ensures the franchisee is aware of the terms, conditions, and obligations involved in the franchise agreement.
Additionally, the questionnaire seeks to uncover any potential misrepresentations or unfulfilled promises made by Basecamp Fitness employees or representatives that are not documented in the FDD or Franchise Agreement. By asking about verbal agreements or promises regarding potential revenues, profits, advertising support, or training, Basecamp Fitness aims to identify discrepancies and address them before the franchise agreement is finalized. This protects both the franchisee and the franchisor by ensuring that all expectations are aligned with the written agreements.
The questionnaire also assesses the franchisee's eligibility and capacity to fulfill their obligations. Questions address the franchisee's legal eligibility to work or own a business in the United States or Canada, potential conflicts of interest with other businesses, and any existing contingencies that might affect their ability to perform under the Franchise Agreement. Furthermore, the questionnaire includes questions regarding any past fraudulent conduct, bankruptcies, litigations, or information that might appear on a credit or criminal history report. By gathering this information, Basecamp Fitness can evaluate the franchisee's suitability and mitigate potential risks.
Finally, the questionnaire requires the franchisee to acknowledge that their answers are important and will be relied upon by Basecamp Fitness. By signing the questionnaire, the franchisee represents that their responses are truthful, complete, and correct. This acknowledgement reinforces the franchisee's responsibility for the accuracy of the information provided and helps to prevent future disputes or misunderstandings. It also confirms that no representations in the questionnaire act as a release, estoppel, or waiver of any liability incurred under any applicable franchise law.