What is the developer granted the right to do with Aira Fitness centers under the development agreement?
Aira_Fitness Franchise · 2025 FDDAnswer from 2025 FDD Document
Developer is obligated under this Agreement to develop, open and operate a minimum of three (3) Aira Fitness centers. On or before the date set forth below, Developer is obligated by this Agreement to have signed Franchise Agreements, signed leases or purchase agreements, and commenced operating Aira Fitness Centers:
Last date for Execution of Lease or Date for Execution of Purchase Agreement for Commencement Franchise Agreement Franchisor Approved Site of Operations Upon the execution of this Agreement DEVELOPER: AIRA FITNESS [ENTITY NAME] FRANCHISING LLC An Illinois limited liability Franchisor A Dated: Dated: AIRA FITNESS MUDA 2025 - 18 - DEVELOPER INITIALS FRANCHISOR INITIALS
EXHIBIT C TO THE MULTI-UNIT DEVELOPMENT AGREEMENT
Source: Item 23 — **RECEIPTS (FDD pages 59–254)
What This Means (2025 FDD)
According to Aira Fitness's 2025 Franchise Disclosure Document, a developer is obligated to develop, open, and operate a minimum of three Aira Fitness centers. The developer must sign Franchise Agreements, signed leases or purchase agreements, and commence operations by the dates outlined in the Development Schedule.
Subject to Aira Fitness's prior written approval, the developer may open more Aira Fitness Centers in the Development Area than required by the Development Schedule. The developer must also provide Aira Fitness with periodic reports detailing their progress in developing and establishing franchises under the agreement, in a form and manner specified by Aira Fitness.
The development agreement term expires when the developer signs a Franchise Agreement for the last franchise to be developed under the agreement. After completing the Development Schedule and the termination of exclusive rights to the Development Area, the developer has a right of first refusal to establish additional Franchised Businesses under Aira Fitness's then-current terms and conditions, should Aira Fitness seek to establish or license others to establish an Aira Fitness Center within the Development Area.