What agreements are each Principal and each Principal's spouse required to execute for a Kidokinetics franchise?
Kidokinetics Franchise · 2024 FDDAnswer from 2024 FDD Document
Each Principal and each Principal's spouse will personally execute and bind himself or herself to the Guaranty and Confidentiality and Non-Compete Agreement, in the forms of Attachments E and F to this Agreement, respectively.
Each shall jointly and severally guarantee Franchisee's performance of all of Franchisee's obligations, covenants and agreements under the Agreement, and otherwise bind themselves to the terms of this Agreement as stated herein, pursuant to the terms and conditions of the Guaranty and Confidentiality and Non-Compete Agreement.
Source: Item 22 — CONTRACTS (FDD page 59)
What This Means (2024 FDD)
According to Kidokinetics's 2024 Franchise Disclosure Document, each Principal and each Principal's spouse must personally execute and adhere to the Guaranty and Confidentiality and Non-Compete Agreement. These agreements are included as Attachments E and F to the Franchise Agreement.
By signing these documents, the Principals and their spouses jointly and individually guarantee the franchisee's fulfillment of all obligations, covenants, and agreements outlined in the Franchise Agreement. They also commit to the terms specified within the Guaranty and Confidentiality and Non-Compete Agreement.
This requirement ensures that Kidokinetics can hold the Principals and their spouses accountable for the franchisee's performance and adherence to the brand's standards. It also protects Kidokinetics's confidential information and prevents unfair competition during and after the franchise term. Prospective franchisees should carefully review these agreements and understand their implications before investing in a Kidokinetics franchise.