Are Pearce Bespoke franchisees required to purchase building insurance?
Pearce_Bespoke Franchise · 2025 FDDAnswer from 2025 FDD Document
s products at whatever prices Franchisee determines.
You must purchase and maintain, at your expense, comprehensive general liability insurance in an amount Pearce Bespoke will designate periodically, but at least $1,000,000 per occurrence and $2,000,000 in the aggregate. Thisinsurance must insure Pearce Bespoke, you and any other person Pearce Bespoke designates from liability for all damage or injury. You must also purchase business interruption insurance, business personal property insurance, money, and securities insurance, and building insurance (if applicable). In addition, you must maint
Source: Item 8 — RESTRICTIONS ON SOURCES OF PRODUCTS AND SERVICES (FDD pages 19–20)
What This Means (2025 FDD)
According to Pearce Bespoke's 2025 Franchise Disclosure Document, franchisees must purchase several types of insurance. These include comprehensive general liability insurance with a minimum of $1,000,000 per occurrence and $2,000,000 in the aggregate, which protects Pearce Bespoke, the franchisee, and any other designated person from liability for damage or injury. Franchisees must also secure business interruption insurance, business personal property insurance, and money and securities insurance.
Building insurance is required for Pearce Bespoke franchisees only if it is applicable to their situation. The FDD also states that franchisees must maintain any other insurance as required by law.
This requirement ensures that Pearce Bespoke franchisees have adequate coverage to protect their business and the Pearce Bespoke brand from potential financial losses due to unforeseen events. Prospective franchisees should factor in the costs of these insurance policies when evaluating the overall investment required to start and operate a Pearce Bespoke franchise.