What is the 'Development Schedule' for Aira Fitness franchises defined as in the Multi-Unit 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
Source: Item 23 — **RECEIPTS (FDD pages 59–254)
What This Means (2025 FDD)
According to Aira Fitness's 2025 Franchise Disclosure Document, the Development Schedule, outlined in Exhibit B of the Multi-Unit Development Agreement, mandates that a developer must establish, open, and manage a minimum of three Aira Fitness centers. As part of this agreement, the developer is obligated to sign Franchise Agreements, secure leases or purchase agreements, and commence operations of Aira Fitness Centers by specific dates detailed in the schedule.
The Development Schedule requires the developer to execute leases or purchase agreements for Franchisor-approved sites. The schedule also includes dates for the commencement of operations. The agreement specifies that upon its execution, the developer, identified as AIRA FITNESS [ENTITY NAME], and Franchising LLC, the franchisor, both sign and date the agreement, indicating their commitment to the terms outlined within.
Compliance with the Development Schedule is critical, as the terms and conditions of the agreement depend on it. The developer must also continuously maintain the number of Aira Fitness Centers set forth in the Development Schedule and ensure that the owners maintain majority control over the entity that owns each Aira Fitness franchise. The developer can open an Aira Fitness Center earlier than the date specified in the Development Schedule, provided they comply with the agreement and the applicable Franchise Agreement.
Prospective multi-unit developers should carefully review the Development Schedule to understand the timelines and obligations for opening new Aira Fitness locations. Failing to meet the deadlines outlined in the schedule could result in penalties or termination of the agreement. It is also important to note that a separate Franchise Agreement must be executed for each additional Aira Fitness Center, and the terms of each Franchise Agreement will govern the establishment and operation of that center.