Are spouses required to sign a Personal Guaranty for a Kidokinetics franchise?

According to Kidokinetics's 2024 Franchise Disclosure Document, spouses are required to sign a Personal Guaranty. Specifically, if the franchisee is a business entity, each owner must sign a Personal Guaranty, and spouses are also required to sign one. This Personal Guaranty is included as Attachment E to the Franchise Agreement.

The requirement for a spouse to sign a Personal Guaranty means that the spouse is also held financially responsible for the Kidokinetics franchise's obligations under the Franchise Agreement. This is a significant commitment, as it puts the spouse's personal assets at risk if the franchise fails to meet its financial obligations.

Furthermore, 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.