If a Body20 franchisee is an entity, what document must each owner and their spouse execute?
Body20 Franchise · 2025 FDDAnswer from 2025 FDD Document
- B. If you are a corporation, limited liability company, partnership, or other entity (collectively, an "Entity"), all of your owners of a legal and/or beneficial interest in the Entity (the "Owners") are listed on Appendix A of this Agreement.
Source: Item 23 — RECEIPT (FDD pages 74–251)
What This Means (2025 FDD)
Based on the 2025 Body20 Franchise Disclosure Document, if a franchisee is a corporation, limited liability company, partnership, or other entity, all owners of a legal or beneficial interest in the entity must be listed on Appendix A of the Franchise Agreement. However, the document does not specify that each owner and their spouse must execute a specific document.
Appendix A to the Franchise Agreement is titled "Franchisee-Specific Terms" and includes a section to list the owners of a legal and/or beneficial interest in the franchisee entity. This appendix is used to identify the individuals who have ownership in the Body20 franchise when the franchisee is not an individual person.
Because the excerpt does not explicitly state that each owner and their spouse must execute a specific document, it is recommended that a prospective franchisee ask Body20's franchisor directly about any required documents for owners and their spouses when the franchisee is an entity.