For Aira Fitness, what constitutes a series of changes in the percentage of the franchisee entity owned?

According to Aira Fitness's 2025 Franchise Disclosure Document, a series of changes in the percentage of the franchisee entity owned includes any change or series of changes in the percentage of the franchisee entity owned, directly or indirectly, by the Owner, including any addition or deletion of any person or entity who qualifies as an Owner. Additionally, any change in the general partner of a franchisee that is a general, limited or other partnership entity also constitutes a transfer.

For a prospective Aira Fitness franchisee, this means that any alteration in ownership, whether through the addition or removal of an owner or changes in the ownership percentages, is considered a transfer under the franchise agreement. This also applies to changes in the general partner if the franchisee is a partnership or other entity.

This is significant because such transfers are subject to Aira Fitness's right of first refusal, consent, transfer fees, and other transfer conditions as outlined in Section 12 of the franchise agreement. Therefore, franchisees must seek approval from Aira Fitness before making any changes to the ownership structure of their franchise entity. Failing to do so could result in a breach of the franchise agreement.