Does the Punch King Fitness FDD include Exhibit C, the Personal Guaranty for Punch King Fitness?
Punch_King_Fitness Franchise · 2024 FDDAnswer from 2024 FDD Document
| RETURN TO | : Punch King F | itness, Inc. at 1588 Norieg | a St., San Frar | nciso, CA 94122 |
|---|---|---|---|---|
| Date | Signature | Print Name | ||
| Date | Signature | Print Name | ||
| EXHIBIT F. | CHISE REGULATORS AND R SERVICE OF PROCESS | |||
| EXHIBIT E. | IBIT E. POWER OF ATTORNEY TO ASSIGN TELEPHONE NUMBER | STATE SPECIFIC ADDENDUMS | ||
| EXHIBIT E. | AGREEMENT | - | EXHIBIT J. | TABLES OF CONTENTS OF OPERATING MANUAL |
| EXHIBIT D. | RESTRICTIVI | E COVENANT | EXHIBIT I. | FINANCIAL STATEMENTS |
| EXHIBIT C. | PERSONAL O | GUARANTY | SYSTEM |
Source: Item 23 — RECEIPT (FDD pages 215–216)
What This Means (2024 FDD)
According to Punch King Fitness's 2024 Franchise Disclosure Document, Exhibit C, titled "PERSONAL O GUARANTY", is included as part of the FDD. This exhibit is listed among other exhibits such as the Franchise Agreement (Exhibit A), Area Development Agreement (Exhibit B), Restrictive Covenant (Exhibit D), and others.
The inclusion of a Personal Guaranty as Exhibit C suggests that Punch King Fitness may require franchisees to personally guarantee the obligations of their franchise agreement. This is a common practice in franchising, especially for newer or smaller franchise systems, as it provides the franchisor with additional security.
Prospective franchisees should carefully review Exhibit C to understand the full extent of their personal liability. This includes understanding what specific obligations are being guaranteed, the duration of the guaranty, and any conditions under which the guaranty may be enforced. It is advisable to seek legal counsel to fully understand the implications of signing a personal guaranty before entering into a franchise agreement with Punch King Fitness.