According to the Zoomin Groomin FDD, what is included in Schedule 4 of Exhibit B?
Zoomin_Groomin Franchise · 2025 FDDAnswer from 2025 FDD Document
| Exhibit A | State Addenda to the Disclosure Document | ||
|---|---|---|---|
| Exhibit B | Franchise Agreement | ||
| Schedule 1 Territory Schedule 2 Automatic Bank Draft Authorization | |||
| Schedule 3 | Telephone Number Assignment | ||
| Schedule 4 | Personal Guaranty | ||
| Schedule 5 | Release | ||
| Schedule 6 | State Addenda to the Franchise Agreement | ||
| Exhibit C | List of State Administrators & Registered Agents | ||
| Exhibit D | Table of Contents to Operations Manual | ||
| Exhibit E-1 | List of Franchisees | ||
| Exhibit E-2 | List of Former Franchisees | ||
| Exhibit F | Financial Statements | ||
| Exhibit G | Non-Disclosure Agreement | ||
| Exhibit H | State Effective Dates | ||
| Exhibit I | Receipts | ||
| Please sign this copy of the receipt, date your signature, and return it to Zoomin Groomin at 780 Lynnhaven Parkway, Suite 240, Virginia Beach, VA 23452. | |||
| Signature Name | |||
| Date | |||
Source: Item 9 — 01. Financial Statements and Exhibits. (FDD pages 68–156)
What This Means (2025 FDD)
According to Zoomin Groomin's 2025 Franchise Disclosure Document, Schedule 4 of Exhibit B contains the Personal Guaranty. Exhibit B itself is the Franchise Agreement. This means that Schedule 4 is a specific part of the Franchise Agreement related to a personal guarantee.
A personal guarantee is a legal promise made by the franchisee to be personally responsible for the financial obligations of the franchise. This is a common practice in franchising, especially when the franchisee is a business entity with limited assets. The personal guarantee ensures that Zoomin Groomin has recourse to the franchisee's personal assets if the franchise business fails to meet its financial obligations under the Franchise Agreement.
As a prospective Zoomin Groomin franchisee, it is crucial to carefully review the terms of the Personal Guaranty in Schedule 4. You should understand the extent of your personal liability and the circumstances under which the guarantee can be enforced. Consider seeking legal advice to fully understand the implications of signing a personal guarantee, as it could put your personal assets at risk.