What documents must accompany the application for consent to transfer an Aira Fitness franchise?
Aira_Fitness Franchise · 2025 FDDAnswer from 2025 FDD Document
Application for our consent to a transfer and tender of the right of first refusal provided for in Section 12.E must be made by submission of our form of application for consent to transfer, which must be accompanied by the documents (including a copy of the proposed purchase or other transfer agreement) or other required information.
The application must indicate whether you or an Owner proposes to retain a security interest in the property to be transferred.
No security interest may be retained or created, however, without our prior written consent and except upon conditions acceptable to us.
Any agreement used in connection with a transfer is subject to our prior written approval, which approval will not be withheld unreasonably.
Source: Item 23 — **RECEIPTS (FDD pages 59–254)
What This Means (2025 FDD)
According to Aira Fitness's 2025 Franchise Disclosure Document, an application for consent to transfer must include Aira Fitness's form of application for consent to transfer, accompanied by required documents, including a copy of the proposed purchase or other transfer agreement. The application must also indicate whether the current franchisee or an owner proposes to retain a security interest in the property to be transferred.
This means that if a franchisee wishes to sell their Aira Fitness franchise to someone else, they must first get approval from Aira Fitness. As part of this process, the franchisee needs to fill out Aira Fitness's specific application form and provide all the documents and information Aira Fitness requires. A key document will be the agreement that outlines the terms of the sale or transfer between the franchisee and the potential new owner.
Additionally, Aira Fitness wants to know if the current franchisee plans to keep any financial stake in the business after the sale, such as a security interest. This allows Aira Fitness to assess the transfer and ensure it aligns with their standards and policies. Any transfer agreement is subject to Aira Fitness's prior written approval, which Aira Fitness will not unreasonably withhold.