Where is the Personal Guaranty attached in the Kidokinetics Franchise Agreement?

According to Kidokinetics's 2024 Franchise Disclosure Document, the Personal Guaranty is attached to the Franchise Agreement as Attachment E. If the franchisee is a business entity, each owner and their spouses are required to sign this Personal Guaranty.

This means that if you are signing the Kidokinetics Franchise Agreement as a business entity, such as an LLC or corporation, each owner of the entity, along with their spouses, must also sign a Personal Guaranty. This document legally binds them to ensure the franchise fulfills its financial and operational obligations under the agreement.

The Personal Guaranty ensures that Kidokinetics has recourse to the personal assets of the owners if the franchise fails to meet its obligations. This is a common practice in franchising, as it provides an additional layer of security for the franchisor. It is important for prospective franchisees to carefully review the terms of the Personal Guaranty with legal counsel to understand the full extent of their personal liability.

Furthermore, in the event of the death or permanent disability of the franchisee, any heir or successor must also agree to sign a Personal Guaranty to guarantee the obligations of the franchisee within six months. This ensures the continuity of the guarantee, even if the franchise ownership changes due to unforeseen circumstances.