Who are considered 'Franchisee Parties' in the Beem Light Sauna franchise agreement?
Beem_Light_Sauna Franchise · 2025 FDDAnswer from 2025 FDD Document
THIS AGREEMENT (this "Agreement") is made and entered into as of the date set forth on Appendix A of this Agreement (the "Effective Date") (Appendix A and all appendices and schedules attached to this Agreement are hereby incorporated by this reference) between Beem Franchisor LLC, a Delaware limited liability company with its principal place of business at 4000 MacArthur Blvd., Suite 800, Newport Beach, California 92660 ("Franchisor"), and the person or entity identified in Appendix A as the franchisee ("Franchisee") with its principal place of business as set forth in Appendix A. In this Agreement, "we," "us," and "our" refers to Franchisor. "You" and "your" refers to Franchisee.
RECITALS
Source: Item 23 — RECEIPT (FDD pages 71–230)
What This Means (2025 FDD)
According to the 2025 Beem Light Sauna Franchise Disclosure Document, the term "Franchisee" refers to the person or entity identified in Appendix A of the Franchise Agreement. Additionally, the document refers to "Guarantors," who jointly and severally guarantee the franchisee's obligations to Beem Franchisor LLC.
For a prospective Beem Light Sauna franchisee, this means that the individual or business entity signing the Franchise Agreement is considered the "Franchisee." If the franchisee is a business entity, such as an LLC or corporation, the franchisor may require personal guarantees from the owners or principals of the entity. These individuals would then be considered "Guarantors," and would be responsible for the franchisee's financial and performance obligations.
It is important for potential franchisees and their guarantors to carefully review the Franchise Agreement and any related guarantee documents to fully understand their obligations and liabilities to Beem Light Sauna. Consulting with an attorney is advisable to ensure a complete understanding of the legal and financial implications.