What is the definition of a 'Managing Owner' for a Bigfoot Forestry franchise?

According to Bigfoot Forestry's 2025 Franchise Disclosure Document, a 'Managing Owner' is defined as the owner designated and approved by Bigfoot Forestry who holds primary responsibility for the overall management and supervision of the Bigfoot Forestry Business, as detailed in Section 8.1 of the agreement.

Section 8.1 further specifies that the Managing Owner must be approved by Bigfoot Forestry, successfully complete all required training programs, and dedicate either full-time efforts to the business if adhering to an owner-operator model, or commercially reasonable efforts if a Project Manager is hired. Additionally, the Managing Owner must own at least 20% of the equity interests in the business or franchisee entity, unless this requirement is waived by Bigfoot Forestry, and must have binding decision-making authority on matters involving the business.

This definition is important for prospective franchisees as it outlines the key responsibilities and requirements for the individual who will be primarily managing the Bigfoot Forestry business. It also clarifies the level of involvement and equity stake expected from the Managing Owner, ensuring they have both the authority and the commitment to effectively run the franchise. The Managing Owner may also serve as a Service Technician.