Is the Aira Fitness Development Agreement granted based on the personal qualifications of the developer?
Aira_Fitness Franchise · 2025 FDDAnswer from 2025 FDD Document
This Agreement must be personally guaranteed and the obligations hereunder assumed by all of the Owners of the Developer, and all such Owners must execute the Guaranty and Assumption of Obligations which is attached hereto as Exhibit C concurrently with the execution of this Agreement by Developer.
You and your Owners affirm that all information you have given to us in any and all applications, financial statements and other submissions is true, complete and accurate in all respects, with you expressly acknowledging that we are relying upon the truthfulness, completeness and accuracy of such information.
Source: Item 23 — **RECEIPTS (FDD pages 59–254)
What This Means (2025 FDD)
According to the 2025 Aira Fitness Franchise Disclosure Document, the Development Agreement is granted based on the personal qualifications of the developer. Aira Fitness requires that all information provided in applications and financial statements be true, complete, and accurate, as they rely on this information.
Furthermore, the agreement must be personally guaranteed by all owners of the developer, who must also execute a Guaranty and Assumption of Obligations. This indicates that the financial stability and personal commitment of the owners are critical factors in granting the development agreement.
Additionally, Aira Fitness requires that a Principal or general manager devote full time and best efforts to the on-premises management of the Aira Fitness Business and complete the required training. This ensures that the business is operated according to the terms and conditions of the agreement and that the management is adequately trained. Aira Fitness also requires a non-compete agreement from the owners, further emphasizing the importance of the developer's and owners' commitment to the brand.