What exhibit in the Aira Fitness FDD contains the financial statements?
Aira_Fitness Franchise · 2025 FDDAnswer from 2025 FDD Document
Other states may require registration, filing, or exemption of a franchise under other laws, such as those that regulate the offer and sale of business opportunities or seller-assisted marketing plans.
COPY FOR AIRA FITNESS FRANCHISING LLC Exhibit M RECEIPT
This disclosure document summarizes certain provisions of the franchise agreement and other information in plain English. Read this disclosure document and all agreements carefully.
If AIRA Fitness Franchising LLC offers you a franchise, it must provide this disclosure document to you 14 calendar-days before you sign a binding agreement with, or make a payment to, the franchisor or an affiliate in connection with the proposed franchise sale (or sooner if required by state law). New York requires that we give you this disclosure document at the earlier of the first personal meeting or 10 business days before the execution of the franchise or other agreement or the payment of any consideration that relates to the franchise relationship. Michigan requires that we give you this disclosure document at least 10 business days before the execution of any binding franchise or other agreement or the payment of any consideration, whichever occurs first.
If AIRA Fitness Franchising LLC does not deliver this disclosure document on time or if it contains a false or misleading statement, or a material omission, a violation of federal law and state law may have occurred and should be reported to the Federal Trade Commission, Washington, D.C. 20580 and the state agencies listed in Exhibit A to this disclosure document.
Source: Item 23 — **RECEIPTS (FDD pages 59–254)
What This Means (2025 FDD)
According to the 2025 Aira Fitness FDD, Exhibit M contains the receipt. The document also includes notes on the organization, nature of activities, and accounting policies of Aira Fitness Franchising LLC. These notes provide context for understanding the financial statements, such as the company's incorporation details, accounting methods (US GAAP), and how it handles estimates, cash equivalents, and franchisee receivables.
These accounting policies are crucial for prospective franchisees as they offer insight into how Aira Fitness manages its finances and reports its financial performance. Understanding these policies can help franchisees interpret the financial statements more accurately and assess the financial health of the franchisor. For instance, the note on franchisee receivables explains how Aira Fitness accounts for fees and contributions from franchisees, which can impact the company's reported revenue and receivables.
Furthermore, the FDD mentions that if Aira Fitness offers a franchise, it must provide the disclosure document to the potential franchisee 14 calendar days before signing any binding agreement or making payments. This disclosure document summarizes the franchise agreement and other relevant information. If Aira Fitness fails to deliver the document on time, or if it contains false or misleading statements, it could be a violation of federal and state laws, which should be reported to the Federal Trade Commission and state agencies listed in Exhibit A.