Regarding the Fitstop Guaranty, what information is required for the Guarantor's Resident Address?

According to Fitstop's 2024 Franchise Disclosure Document, the Guarantor's Resident Address is required on the Guaranty. The document includes a section labeled 'GUARANTOR' with the text 'Guarantor's Resident Address' listed. This indicates that the physical address where the guarantor resides must be provided as part of the guaranty agreement. This information is essential for legally binding the guarantor to the franchise agreement, as it establishes their identity and location for potential legal or contractual obligations.

For a prospective Fitstop franchisee, this means that if a guarantor is required as part of the franchise agreement (for example, if the franchisee is a corporate entity), the full residential address of the guarantor must be provided. This requirement ensures that Fitstop has recourse to an individual's assets should the franchisee default on their obligations. The guarantor is essentially vouching for the financial and operational commitments of the franchisee.

It is important to note that the FDD excerpt only mentions the requirement for the 'Guarantor's Resident Address' without specifying the exact format or any additional documentation needed to verify the address. A prospective franchisee should clarify with Fitstop what specific details are needed for the address (e.g., street number, city, state, zip code) and whether any proof of residency is required to ensure full compliance with the franchise agreement.