What is Exhibit B in the Aira Fitness development agreement used to define?
Aira_Fitness Franchise · 2025 FDDAnswer from 2025 FDD Document
[Item 23: **RECEIPTS]
EXHIBIT B TO THE MULTI-UNIT DEVELOPMENT AGREEMENT
DEVELOPMENT SCHEDULE
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, Exhibit B to the Multi-Unit Development Agreement outlines the Development Schedule. This schedule specifies the developer's obligations to develop, open, and operate a minimum of three Aira Fitness centers. It includes deadlines for signing Franchise Agreements, securing leases or purchase agreements, and commencing operations at Franchisor-approved sites.
For a prospective multi-unit Aira Fitness developer, this exhibit is crucial as it sets forth the timeline and milestones that must be met. Failing to adhere to this schedule could result in penalties or termination of the development agreement. The exhibit emphasizes the importance of securing locations and initiating operations promptly.
This type of development schedule is a common practice in multi-unit franchise agreements, ensuring that developers are committed to expanding the brand within a defined timeframe. Prospective developers should carefully review Exhibit B to understand the required pace of development and assess their ability to meet the specified deadlines. The exhibit also includes signature lines for both the developer and Aira Fitness Franchising LLC, indicating the formal acceptance of the development schedule.