In the Statement of Ownership and Management for Basecamp Fitness, what information is required regarding the ownership of the franchise?

According to Basecamp Fitness's 2025 Franchise Disclosure Document, the franchisee must provide accurate and complete information in the Statement of Ownership and Management as of the effective date of the agreement. The franchisee is obligated to immediately inform Basecamp Fitness of any changes to the information previously submitted in this statement. Furthermore, Basecamp Fitness retains the right to request an updated Statement of Ownership and Management from the franchisee at any time. Each owner must sign Basecamp Fitness's current Guaranty at the time they become an owner.

This requirement ensures that Basecamp Fitness maintains current and accurate records of the franchise's ownership structure. This allows Basecamp Fitness to know who is responsible for the franchise's operations and financial obligations. The Guaranty agreement further protects Basecamp Fitness by ensuring that each owner is personally liable for the franchise's debts and performance.

For a prospective Basecamp Fitness franchisee, this means they must be prepared to disclose detailed information about the ownership of their franchise and keep this information up to date. Any changes in ownership must be promptly reported to Basecamp Fitness, and new owners will be required to sign a guaranty. This requirement is fairly standard in franchising, as franchisors need to know who they are doing business with and ensure accountability for the franchise's performance.