What is the name of the document that Byrider franchise owners must sign to guarantee obligations?

According to Byrider's 2025 Franchise Disclosure Document, if a franchisee is a corporation, limited liability company, or other entity, the owners of that entity must sign a personal guaranty to fulfill all obligations under the Franchise Agreement. The Franchise Agreement is listed as Exhibit B in the FDD. This means that even if the franchise is owned by a business entity, Byrider requires the individuals behind that entity to be personally responsible for ensuring the franchise meets all its financial and contractual obligations.

This requirement is a common practice in franchising, as it provides Byrider with an additional layer of security. By requiring a personal guarantee, Byrider can pursue the personal assets of the owners if the franchise fails to meet its obligations. This reduces Byrider's risk and ensures that the owners are fully committed to the success of the franchise.

For a prospective Byrider franchisee, this means that they should be prepared to sign a personal guarantee, which could put their personal assets at risk. It is important to carefully review the Franchise Agreement and understand all of the obligations before signing the personal guarantee. Franchisees should seek legal and financial advice to fully understand the implications of signing such a document.