Does the Aira Fitness franchisee obtain ownership of the leased equipment through the Fitness Equipment Lease Agreement?
Aira_Fitness Franchise · 2025 FDDAnswer from 2025 FDD Document
ld 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.
- H. Relocation. You may not relocate your Aira Fitness Business without our prior written consent.
Source: Item 23 — **RECEIPTS (FDD pages 59–254)
What This Means (2025 FDD)
Based on the 2025 Aira Fitness Franchise Disclosure Document, franchisees do not automatically obtain ownership of leased fitness equipment. Instead, at the end of each three-year lease period, the franchisee must return the old equipment to the designated supplier, who may be Aira Fitness or its affiliate, according to the terms of the equipment lease.
The FDD states that if a franchisee chooses to lease the fitness equipment, they must return the old equipment to the designated or approved supplier at the end of each three-year period. Following this, the franchisee is required to enter into a new purchase agreement or lease for replacement equipment with a designated or approved supplier, which could be Aira Fitness or one of its affiliates.
However, franchisees have the option to purchase the fitness equipment instead of leasing. If a franchisee chooses to purchase the equipment, they may offer their old equipment to anyone at the end of each three-year period, but Aira Fitness retains the right of first refusal to buy the equipment on the same terms as any potential buyer. This means that while franchisees can own their equipment, Aira Fitness has the first option to repurchase it when the franchisee decides to sell.