For Aira Fitness Businesses operating from Pods, does the Lease Addendum apply to land instead of premises?
Aira_Fitness Franchise · 2025 FDDAnswer from 2025 FDD Document
: (i) RECEIPT OF THE PURCHASED EQUIPMENT, (ii) THAT FRANCHISEE HAS HAD THE OPPORTUNITY TO INSPECT THE CONDITION OF THE PURCHASED EQUIPMENT, AND (iii) FRANCHISEE ACCEPTS THE CONDITION OF THE EQUIPMENT AS DELIVERED ON:
| Date: | |--------------| | Franchisee: | | By: | | (Print Name) |
EXHIBIT 1 TO PURCHASE AGREEMENT
Pod Specifications
EXHIBIT I POD PACKAGE LEASE
POD LEASE AGREEMENT
| THIS LEASE Premises"). | AGREEMENT (the "Agreement") is made on the day of, 20, (the "Effective Date") by and between Pure Gym Equipment LLC, an Illinois limited liability company ("Franchisor's Affiliate") and, a, (hereinafter called "You" or "Franchisee") for the lease of Pod (as hereinafter defined) Aira Fitness franchise business located at ("Business | for Franchisee's |
|---|---|---|
| WITNESSETH | ||
| Affiliate | WHEREAS, Franchisee is in the business of leasing and selling fitness equipment buildings ("Pods") to Aira Fitness franchisees; WHEREAS, Franchisee is leasing from Franchisor's Affiliate and Franchisor's Affiliate is leasing to Franchisee a Pod on the terms described in this Agreement. NOW THEREFORE, intending to be legally bound, the parties agree as follows: Basic Lease Terms. | owns and operates an Aira Fitness franchise business and Franchisor's and pre-fabricated modular |
| (a) | Franchisor's Affiliate's Address for Notice: | Pure Gym Equipment LLC 521 S. Jade Lane Round Lake, IL 60073 Attn: Mike Bell |
| With a copy of all notices going to: (Franchisor's Affiliate) | Huck Bouma PC 1755 S. Naperville Rd., Ste. 200 Wheaton, IL 60189 Attn: Alissa Carter Verson | |
| (b) | Franchisee's Address for Notice: With a copy of all notices going to: (Franchisee): | |
| (c) | Concurrently with the execution of this Agreement a material inducement of Franchisor's Affiliate's obligations under this Agreement, , who is Franchisee ("Guarantor"), shall execute and shall deliver to Franchisor's Affiliate a Guaranty in the form attached hereto as Schedule 2, guaranteeing Franchisee's full performance under this Agreement. |
Source: Item 23 — **RECEIPTS (FDD pages 59–254)
What This Means (2025 FDD)
Based on the 2025 Aira Fitness Franchise Disclosure Document, the Lease Agreement involves leasing a 'Pod' for the Aira Fitness franchise business. The agreement is between the franchisee and Pure Gym Equipment LLC, which is identified as the Franchisor's Affiliate, for leasing the Pod. The document specifies that the franchisee is leasing from the Franchisor's Affiliate, and the Franchisor's Affiliate is leasing to the franchisee a Pod under the terms described in the agreement.
This agreement outlines the basic lease terms, including the affiliate's address for notices, the franchisee's address for notices, and the requirement for a guaranty from the franchisee. It also defines the term's commencement date as upon delivery of the Pod, with specifications listed in Schedule 1 of the agreement. The agreement focuses on the lease of the physical Pod structure rather than the land it occupies.
For a potential Aira Fitness franchisee, this means that the Lease Addendum specifically concerns the prefabricated modular building ('Pod') itself, not the underlying land. Franchisees should ensure they understand the terms related to the Pod's delivery, specifications, and any obligations related to its physical structure as detailed in the lease agreement and associated schedules.