What is the Aira Fitness franchisee's obligation regarding the Merchant Account balance?
Aira_Fitness Franchise · 2025 FDDAnswer from 2025 FDD Document
You must maintain a balance in your Merchant Account sufficient to allow us and our affiliates to collect the amounts owed to us.
You are responsible for any penalties, fines or other similar expenses associated with the transfer of funds described in this Section.
Source: Item 23 — **RECEIPTS (FDD pages 59–254)
What This Means (2025 FDD)
According to Aira Fitness's 2025 Franchise Disclosure Document, franchisees must maintain a sufficient balance in their Merchant Account to cover amounts owed to Aira Fitness and its affiliates. This obligation ensures that Aira Fitness can collect payments for fees and other charges through deductions from the franchisee's account.
The FDD specifies that Aira Fitness is authorized to debit the Merchant Account for various fees, including Royalty Fees, National Marketing Fund contributions, website fees, yearly maintenance fees, interest, and late fees. These debits are typically initiated on the first day of every calendar week, although the dates and intervals may change with notice to the franchisee. If the Merchant Account lacks sufficient funds, Aira Fitness is entitled to collect interest and late fees, debiting them once sufficient funds are available.
Furthermore, the franchisee is responsible for all costs or fees charged by the Approved Payment Processor related to these debits. This arrangement allows Aira Fitness to ensure timely payments and manage financial transactions efficiently. Franchisees should be aware of these requirements to avoid penalties and maintain a positive relationship with Aira Fitness.