Does the Kitchen Solvers Franchise Agreement include an appendix for a Personal Guarantee, and if so, what is it labeled?
Kitchen_Solvers Franchise · 2025 FDDAnswer from 2025 FDD Document
This Disclosure Document includes the following contracts:
Exhibit B -- KITCHEN SOLVERS Franchise Agreement with Appendices – A (Personal Guaranty), B (Data Sheet), C (Supplies Package), D (Assignment of Telephone Numbers), E (Collateral Assignment of Lease), and F (ACH Agreement), and Franchisee Acknowledgement/Compliance Certification
Source: Item 22 — Contracts (FDD page 49)
What This Means (2025 FDD)
According to Kitchen Solvers' 2025 Franchise Disclosure Document, the Franchise Agreement does include an appendix for a Personal Guarantee. Specifically, Exhibit B of the FDD lists the Kitchen Solvers Franchise Agreement with Appendices, including Appendix A, which is labeled as "(Personal Guaranty)".
This means that Kitchen Solvers requires a personal guarantee from all principal owners of a franchisee entity (corporation, partnership, etc.). This is a common practice in franchising, as it ensures that individuals with a significant stake in the franchise are personally liable for the business's obligations under the Franchise Agreement. This provides Kitchen Solvers with an additional layer of security and recourse in case of default or breach of contract by the franchisee.
Prospective Kitchen Solvers franchisees should carefully review the Personal Guaranty to understand the full extent of their obligations and potential liabilities. They should also seek legal counsel to fully understand the implications of signing such a guarantee. The FDD also states that any person or entity that becomes a principal owner after the agreement date must also execute the form of undertaking and guarantee in the form attached as Appendix A.