Where must an Aira Fitness franchisee keep records on file?
Aira_Fitness Franchise · 2025 FDDAnswer from 2025 FDD Document
For a period of five (5) years from their date of preparation, you will keep on file at your principal office and make available to the us all such records, including, without limitation, the following: receipts, invoices, payroll records, check stubs, bank deposit receipts, sales tax records and returns, business and personal tax returns, and such journals and transactions which properly summarize the transactions of the business operations of the Aira Fitness Business. You hereby grant permission to us to have access to all electronic records maintained in Technology Systems that we require you to use.
Source: Item 23 — **RECEIPTS (FDD pages 59–254)
What This Means (2025 FDD)
According to Aira Fitness's 2025 Franchise Disclosure Document, franchisees are required to maintain all business records at their principal office. These records must be kept on file for a period of five years from the date of preparation. The franchisee must also make these records available to Aira Fitness.
The types of records that must be kept on file include receipts, invoices, payroll records, check stubs, bank deposit receipts, sales tax records and returns, business and personal tax returns, and journals and transactions that summarize the business operations of the Aira Fitness Business. Additionally, franchisees grant Aira Fitness permission to access all electronic records maintained in the Technology Systems that Aira Fitness requires them to use.
This requirement ensures that Aira Fitness franchisees maintain organized and accessible records for both their own business management and for audits conducted by the franchisor. The five-year retention period aligns with standard accounting practices and legal requirements for tax and financial record-keeping. The franchisee's principal office serves as the central location for storing these documents, facilitating easy access during audits or for internal review.