What conditions must an Aira Fitness franchisee meet to exercise the purchase option for the leased equipment?
Aira_Fitness Franchise · 2025 FDDAnswer from 2025 FDD Document
If you choose to purchase the fitness equipment, at the end of each three year period, you may offer your old equipment to anyone, but we have the right of first refusal to buy the equipment on the same terms and conditions as any potential buyer.
You must give us seven (7) days' written notice of any potential sale of your old equipment and a reasonable opportunity to match any offer you have that you intend to accept.
We are under no obligation to actually exercise our right of first refusal.
If you choose to lease the fitness equipment, at the end of each three year period, you must return the old equipment to the designated or approved supplier of the fitness equipment or otherwise per the terms of the equipment lease, which designated or approved supplier may be us or our affiliate.
You must then enter into a purchase agreement or lease for replacement equipment with a designated or approved, which may be us or our affiliate.
Source: Item 23 — **RECEIPTS (FDD pages 59–254)
What This Means (2025 FDD)
According to Aira Fitness's 2025 Franchise Disclosure Document, if a franchisee chooses to purchase the fitness equipment, at the end of each three-year period, they may offer their old equipment to anyone. However, Aira Fitness retains the right of first refusal to buy the equipment on the same terms and conditions as any potential buyer.
To facilitate this, the franchisee must provide Aira Fitness with seven days' written notice of any potential sale of their old equipment. This notice must include a reasonable opportunity for Aira Fitness to match any offer the franchisee intends to accept. It is important to note that Aira Fitness is under no obligation to exercise this right of first refusal.
If Aira Fitness chooses not to purchase the equipment, the franchisee is free to sell it to the third party. If the franchisee had chosen to lease the equipment, they must return it to the designated or approved supplier, who may be Aira Fitness or its affiliate, and then enter into a new purchase agreement or lease for replacement equipment with a designated or approved supplier, which again may be Aira Fitness or its affiliate.