In the Aira Fitness franchise agreement receipt, what information must be provided for each personal guarantor of the franchisee?
Aira_Fitness Franchise · 2025 FDDAnswer from 2025 FDD Document
In consideration of the execution of the Franchise Agreement by us, and for other good and valuable consideration, the undersigned, for themselves, their heirs, successors, and assigns, do jointly, individually and severally hereby become surety and guarantor for the payment of all amounts and the performance of the covenants, terms and conditions in the Franchise Agreement, to be paid, kept and performed by the franchisee, including without limitation the arbitration and other dispute resolution provisions of the Agreement.
Further, the undersigned, individually and jointly, hereby agree to be personally bound by each and every condition and term contained in the Franchise Agreement, including but not limited to the non-compete provisions in paragraph 11.D, the dispute resolution provision in Section 13, and agree that this Personal Guarantee will be construed as though the undersigned and each of them executed a Franchise Agreement containing the identical terms and conditions of this Franchise Agreement.
Source: Item 23 — **RECEIPTS (FDD pages 59–254)
What This Means (2025 FDD)
According to the 2025 Aira Fitness Franchise Disclosure Document, each personal guarantor must agree to be bound by the terms and conditions of the franchise agreement. Specifically, the personal guarantee requires the undersigned to become surety and guarantor for the payment of all amounts and the performance of the covenants, terms, and conditions in the Franchise Agreement to be paid, kept, and performed by the franchisee. This includes, without limitation, the arbitration and other dispute resolution provisions of the Agreement.
Furthermore, each guarantor agrees to be personally bound by every condition and term in the Franchise Agreement. This encompasses the non-compete provisions in paragraph 11.D and the dispute resolution provision in Section 13. The personal guarantee will be construed as though the guarantor executed a Franchise Agreement containing identical terms and conditions.
In practical terms, this means that anyone acting as a personal guarantor for an Aira Fitness franchisee takes on significant legal and financial responsibilities. They are not only guaranteeing the franchisee's financial obligations but also agreeing to abide by all the operational and legal stipulations outlined in the franchise agreement. This is a common practice in franchising, as it provides the franchisor with added security and recourse in case the franchisee fails to meet their obligations.