Does Caring Senior Service guarantee a franchisee's note, lease, or obligation?
Caring_Senior_Service Franchise · 2025 FDDAnswer from 2025 FDD Document
We do not assign or discount to third parties notes, contracts or other instruments executed by you or other licensees, but we reserve the right to take, pledge and assign or discount to third parties in the future notes, contracts or other instruments executed by you or other franchisees should we determine, in our sole discretion, that this action is advisable or in our best interest.
Except as described above, we do not offer direct or indirect financing. We do not guarantee your note, lease, or obligation.
Source: Item 10 — FINANCING (FDD pages 24–25)
What This Means (2025 FDD)
According to Caring Senior Service's 2025 Franchise Disclosure Document, Caring Senior Service does not guarantee a franchisee's note, lease, or obligation. This means that franchisees are solely responsible for securing their own financing and fulfilling their financial commitments. Caring Senior Service will not act as a guarantor for any loans or leases the franchisee obtains.
However, Caring Senior Service may offer financing to existing franchisees or employees for up to 50% of the initial franchise fee. To qualify for this financing, franchisees may need to meet certain minimum standards, such as achieving GreatCare® Master certification. If Caring Senior Service provides financing, the franchisee must execute a Promissory Note and its related Guaranty of Payment, with each owner providing a Guaranty of Payment.
While Caring Senior Service does not typically assign or discount franchisee notes to third parties, they reserve the right to do so in the future if deemed advisable. This could potentially impact the terms or management of a franchisee's financial obligations if it were to occur. Prospective franchisees should carefully consider these financing terms and conditions and seek professional financial advice before making any commitments.