What information is required regarding the officers of an organization that is a Caring Transitions franchisee?

According to Caring Transitions' 2025 Franchise Disclosure Document, if a franchisee is a limited liability business entity, they must provide Caring Transitions with a list of principal owners. This list, certified by a designated individual, must include the full legal name, home address, home telephone number, and ownership percentage of each principal. This requirement ensures that Caring Transitions has detailed information about the individuals who own and control the franchise.

Furthermore, each principal of the Caring Transitions franchise must execute a separate agreement. This agreement, in a form prescribed by Caring Transitions, unconditionally guarantees the full payment of the franchisee's obligations under the franchise agreement. It also stipulates that each principal is jointly and severally bound by all provisions of the agreement, including the Covenants After Termination. This measure provides Caring Transitions with additional security and recourse in case of default or breach of contract.

In addition to the above, the organizational and governing documents of the limited liability business entity must prescribe a maximum of ten Principals. This limitation helps Caring Transitions manage and control the franchise network by restricting the number of individuals who can influence the business. The franchisee is also obligated to provide Caring Transitions with true and complete copies of its organizational and governing documents, including resolutions authorizing the execution of the franchise agreement.