What agreements must each of the Southern Steer franchisee's owners execute?

According to the 2025 Southern Steer Franchise Disclosure Document, each of the franchisee's owners must execute a Personal Guaranty, as detailed in Attachment C of the FDD. This agreement ensures that the owner personally guarantees the financial obligations of the franchise to Southern Steer. Additionally, each owner is required to sign a Non-competition and Non-Disclosure Agreement, outlined in Attachment I-1. This agreement restricts the owner from engaging in any competitive business activities and protects Southern Steer's confidential information and trade secrets.

The Personal Guaranty means that the owner's personal assets could be at risk if the Southern Steer franchise fails to meet its financial obligations. The Non-competition and Non-Disclosure Agreement is a standard measure in franchising to prevent franchisees from using the franchisor's proprietary information to start a competing business, either during the franchise term or for a specified period afterward. These agreements are designed to protect Southern Steer's interests and ensure the franchisee's commitment to the brand.

Prospective Southern Steer franchisees should carefully review these agreements with legal counsel to fully understand their obligations and potential liabilities. It is important to note that these requirements apply to each owner of the franchise, not just the primary franchisee. Therefore, all individuals with an ownership stake in the Southern Steer franchise must be prepared to sign these documents.