What is the name of the vehicle lessor that Canopy Lawn Care has arrangements with?
Canopy_Lawn_Care Franchise · 2025 FDDAnswer from 2025 FDD Document
| Obligation | Section in | Disclosure | |||
|---|---|---|---|---|---|
| Franchise Agreement | Document Item | ||||
| v. Post-termination obligations | Sections 10, 12, 14 and 17 of Franchise Agreement | Item 17 | |||
| w. Non-competition covenants | Section14of Franchise Agreement | Item 17 | |||
| x. Dispute resolution | Sections19and 20 of Franchise Agreement | Item 17 | |||
| y. Personal Guaranty (including owners/spouses) | Attachment B | Item 15 | #### Notes: |
We have made arrangements with Enterprise FM Trust ("Lessor") for Lessor to lease vehicles to franchisees in connection with their Lawn Car Business. If you want to lease a vehicle from Lessor, you will sign a Master Equity Lease Agreement (the "Lease Agreement") (See Exhibit H), and other documents required by the Lessor, which may include a personal guaranty by you or your owners. There is no assurance or guarantee that Lessor will agree to lease any vehicle(s) to you or any other franchisee. The decision whether or not to lease to you will be in Lessor's discretion, and may include you meeting credit worthiness and other conditions and qualifications. Your lease of a vehicle and the associated extension of credit is not and shall not be deemed to be an assurance that your Lawn Care Business will be successful or achieve any financial metric. The Lessor is unaffiliated with us. Monthly lease payments vary depending on the year, make and model of the vehicle. You will incur a monthly management fee of .12% of the delivered cost of the vehicle and a service charge of $495 at the end of the term. The typical monthly lease payment for a Vehicle is about $1,000 to $1,500. Interest is based on credit of lessee and cost of vehicle, and other factors as determined by Lessor. The interest rate is fixed at date of delivery for entire term. The Lease Agreement is a contract for leasing only. You will acquire no ownership of the vehicle during the term of the Lease Agreement. The Vehicle will be registered in the name of Lessor during the term of the Lease Agreement. If you are in default under the Lease Agreement, we may terminate the Franchise Agreement. In consideration for referring a prospective franchisee to Lessor, Lessor may pay for a
Source: Item 10 — FINANCING (FDD pages 30–32)
What This Means (2025 FDD)
According to Canopy Lawn Care's 2025 Franchise Disclosure Document, Canopy Lawn Care has made arrangements with Enterprise FM Trust, which is referred to as the "Lessor," to lease vehicles to franchisees for their Lawn Care Businesses. To lease a vehicle, franchisees must sign a Master Equity Lease Agreement and other documents required by the Lessor, potentially including a personal guaranty. However, there is no guarantee that the Lessor will agree to lease a vehicle to any franchisee, as the decision is at the Lessor's discretion and depends on creditworthiness and other qualifications. The Lessor is unaffiliated with Canopy Lawn Care.
The monthly lease payments can vary between approximately $1,000 to $1,500, depending on the vehicle's year, make, and model. Franchisees will also incur a monthly management fee of 0.12% of the vehicle's delivered cost and a $495 service charge at the end of the lease term. Interest rates are fixed at the date of delivery for the entire term and are based on the lessee's credit and the vehicle's cost, among other factors determined by the Lessor. Franchisees do not acquire ownership of the vehicle during the lease term, and the vehicle will be registered in the Lessor's name.
It's important to note that if a franchisee defaults on the Lease Agreement, Canopy Lawn Care has the right to terminate the Franchise Agreement. In return for referring prospective franchisees to the Lessor, the Lessor may provide a sponsorship at Canopy Lawn Care's annual conference. Canopy Lawn Care does not offer any other direct or indirect financing and does not guarantee any franchisee's note, lease, or obligation.