Who is the Sublessor in the Crave Personal Guaranty of Lease?
Crave Franchise · 2025 FDDAnswer from 2025 FDD Document
| Crave WM Franchising LLC, a Wyoming limited liability company ("Sublessor"), | |
|---|---|
| executes this Sublease (the "Sublease") herewith between Sublessor and | |
| , a | limited liability |
| company ("Sublessee"), covering certain premises, situated in the City of | in the state of, within the |
| Walmart location located at The undersigned, jointly and | |
| severally (hereinafter referred to individually and collectively as "Guarantor", whether one or | |
| more) hereby jointly and severally guarantee unto Sublessor the payment and performance of (i) all | |
| of the rental and other sums or charges which may ever become due and payable by Tenant under | |
| the Lease, including, without limitation, rental that becomes due and payable by reason of the | |
| exercise of any power to accelerate granted to Sublessor under the Sublease and any damages or | |
| other sums that become payable on account of any default by Sublessee under the Sublease, and (ii) | |
| all of the other obligations, liabilities and duties of Sublessee under the Sublease (the rental, other | |
| sums and charges and other obligations, liabilities and duties described in the foregoing clauses (i) | |
| and (ii) being hereinafter collectively referred to as the "Obligations"). For the purposes hereof, the | |
| term "Sublessee" shall include any assignee of Sublessee, | and the term "Sublease" shall include any |
| amendment of the Sublease effected by Sublessor and Sublessee, with or | without the consent or |
| knowledge of Guarantor. |
Source: Item 23 — RECEIPTS (FDD pages 63–253)
What This Means (2025 FDD)
According to Crave's 2025 Franchise Disclosure Document, the Sublessor in the Sublease agreement is Crave WM Franchising LLC, a Wyoming limited liability company. This entity executes the sublease with the Sublessee, who is also a limited liability company. The guarantor, who may be one or more individuals or entities, guarantees to the Sublessor the payment and performance of all rental and other sums due under the lease. This includes rental payments, damages, and other obligations of the Sublessee.
For a prospective Crave franchisee, this means that Crave WM Franchising LLC is the entity to which the franchisee (as Sublessee) will be making payments and fulfilling lease obligations. The franchisee will be required to have a personal guaranty in place, ensuring that Crave WM Franchising LLC is protected in case the franchisee defaults on the lease. The term 'Sublessee' includes any assignee of the Sublessee, and any amendments to the Sublease effected by Sublessor and Sublessee, with or without the consent or knowledge of the Guarantor.
This arrangement is typical in franchising, where the franchisor often maintains control over the real estate and subleases it to the franchisee. It's important for the franchisee to understand the full scope of their obligations under the Sublease and the Personal Guaranty, as they will be personally liable for the financial performance of the franchise location. The franchisee should carefully review the Sublease agreement and Personal Guaranty with legal counsel to fully understand their rights and responsibilities.