What agreements are the Operating Principal required to execute for a Southern Steer franchise?

According to the 2025 Southern Steer Franchise Disclosure Document, the Operating Principal is required to execute specific agreements to formalize their obligations and responsibilities to the Southern Steer franchise. The Operating Principal, who must be approved by Southern Steer, needs to own or have the right to own at least 51% of the equity in the franchisee entity and have the authority to make operational decisions.

The agreements that the Operating Principal must sign include a personal guaranty and a non-competition and non-disclosure agreement. Specifically, the Operating Principal will be required to execute the personal guaranty attached to the Franchise Agreement as Attachment C, referred to as the "Personal Guaranty." Additionally, the Operating Principal must execute the Non-Competition and Non-Disclosure Agreement, which is attached to the Franchise Agreement as Attachments J-1 and J-2.

These requirements ensure that the Operating Principal is personally invested in the success of the Southern Steer business and is legally bound to protect Southern Steer's interests by not competing with the franchise and by maintaining the confidentiality of proprietary information. These measures are typical in franchising to protect the brand and maintain standards across all franchise locations.