Under the Pearce Bespoke franchise agreement, how many principals are required to sign?
Pearce_Bespoke Franchise · 2025 FDDAnswer from 2025 FDD Document
FRANCHISOR FRANCHISEE PEARCE BESPOKE FRANCHISING, LLC Signature: Signature: Name: Nathan Pearce Name: Date: Date:
Franchised Territory Map:
ATTACHMENT B - PERSONAL GUARANTY OF OWNER/SHAREHOLDER
This Personal Guaranty and Assumption of Obligations (this "Guaranty") is given by the undersigned individuals identified as the owners of Franchisee in Attachment A.
In consideration of, and as an inducement to, the execution of that certain franchise agreement of even date herewith ("Franchise Agreement") by the parties listed as Franchisor and Franchisee in the Franchise Agreement, the undersigned hereby personally and unconditionally, jointly and severally: guaranties to Franchisor and its successors and assigns, for the Term of the Franchise Agreement and, including any renewal thereof, as provided in the Franchise Agreement, that Franchisee shall punctually pay and perform each and every undertaking, agreement and covenant stated in the Agreement and any documents, agreements, and instruments signed with or in connection with the Franchise Agreement (collectively, the "Franchise Documents"); and (2) agrees to be personally bound by, and personally liable for the breach of, each and every provision in the Franchise Documents applicable to the owners of Franchisee.
Source: Item 22 — CONTRACTS (FDD page 39)
What This Means (2025 FDD)
According to the 2025 Pearce Bespoke Franchise Disclosure Document, the number of principals required to sign the franchise agreement can vary. The document includes a section for signatures from both the franchisor and the franchisee. For the franchisor, Pearce Bespoke Franchising, LLC, the signature line is designated for Nathan Pearce.
For the franchisee, the document includes fields for 'Franchisee Phone,' 'Franchisee Email,' 'Principal Executive,' and 'Designated Representative.' Additionally, Attachment B of the agreement is a 'Personal Guaranty of Owner/Shareholder,' which must be signed by the individuals identified as owners of the franchisee in Attachment A. This implies that multiple owners or shareholders may be required to sign this personal guaranty, depending on the ownership structure of the franchisee.
In summary, while Nathan Pearce signs on behalf of the franchisor, the number of franchisee principals required to sign depends on the franchisee's business structure and the number of owners or shareholders who must provide a personal guarantee. The franchise agreement requires that those listed as owners of the Franchisee in Attachment A must sign the Personal Guaranty of Owner/Shareholder.