What information must be provided by each personal guarantor for a Southern Steer franchise?

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, and a Non-competition and Non-Disclosure Agreement, as detailed in Attachment I-1. This requirement ensures that all individuals with an ownership stake in the Southern Steer franchise are personally liable for the franchise's obligations to Southern Steer and are bound by the non-competition and non-disclosure terms.

This means that prospective Southern Steer franchisees need to be aware that anyone holding an ownership stake in their franchise entity will be required to sign these agreements. The Personal Guaranty makes them personally responsible for the financial and contractual obligations of the franchise. The Non-competition and Non-Disclosure Agreement restricts their ability to engage in competitive activities or disclose confidential information related to the Southern Steer business, both during the franchise term and potentially afterward.

It is important for potential franchisees to carefully review Attachments C and I-1 to fully understand the scope and implications of these agreements. They should seek legal counsel to assess the risks and obligations associated with providing a personal guarantee and adhering to the non-competition and non-disclosure terms. This is a standard practice in franchising, as it protects the franchisor's interests and ensures the commitment of all owners to the success and integrity of the Southern Steer brand.

While the FDD excerpt specifies that owners must execute these documents, it does not detail the specific information required within the Personal Guaranty (Attachment C) or the Non-competition and Non-Disclosure Agreement (Attachment I-1). A prospective franchisee should carefully review these attachments and seek legal counsel to fully understand their obligations.