When is the Equipment Purchase Price due for an Aira Fitness franchise?
Aira_Fitness Franchise · 2025 FDDAnswer from 2025 FDD Document
From time to time as we require, you must replace items of equipment as may be necessary for your Aira Fitness Business to conform to the standards for similarly situated new Aira Fitness Businesses.
For instance, we require that you replace all fitness equipment within three years of the Effective Date of this Agreement.
If you choose to purchase the fitness equipment, at the end of each three year period, you may offer your old equipment to anyone, but we have the right of first refusal to buy the equipment on the same terms and conditions as any potential buyer.
You must give us seven (7) days' written notice of any potential sale of your old equipment and a reasonable opportunity to match any offer you have that you intend to accept.
We are under no obligation to actually exercise our right of first refusal.
If you choose to lease the fitness equipment, at the end of each three year period, you must return the old equipment to the designated or approved supplier of the fitness equipment or otherwise per the terms of the equipment lease, which designated or approved supplier may be us or our affiliate.
You must then enter into a purchase agreement or lease for replacement equipment with a designated or approved, which may be us or our affiliate.
Source: Item 23 — **RECEIPTS (FDD pages 59–254)
What This Means (2025 FDD)
Based on the 2025 Aira Fitness Franchise Disclosure Document, franchisees are required to replace all fitness equipment within three years of the Effective Date of the Franchise Agreement. If the franchisee chooses to purchase the fitness equipment, they must enter into a purchase agreement for replacement equipment with a designated or approved supplier, which may be Aira Fitness or its affiliate. The FDD does not specify the exact due date for the equipment purchase price.
However, the FDD does state that Aira Fitness has the right of first refusal to buy the franchisee's old equipment on the same terms and conditions as any potential buyer. The franchisee must give Aira Fitness seven days' written notice of any potential sale of their old equipment and a reasonable opportunity to match any offer they intend to accept. If the franchisee chooses to lease the fitness equipment, at the end of each three-year period, they must return the old equipment to the designated or approved supplier of the fitness equipment or otherwise per the terms of the equipment lease.
In summary, while the FDD mandates equipment replacement every three years and outlines options for purchasing or leasing replacement equipment, it does not explicitly state when the purchase price for new equipment is due. A prospective Aira Fitness franchisee should clarify the payment terms and schedule for equipment purchases with the franchisor before signing the Franchise Agreement.