Is the Aira Fitness General Manager required to have any equity interest in the franchisee?
Aira_Fitness Franchise · 2025 FDDAnswer from 2025 FDD Document
Your Aira Fitness Business must be managed and supervised by a General Manager, who may be the Principal. Your General Manager need not have any equity interest in the franchisee or the business entity thatowns or operatesthe franchise. YourGeneralManagerwillbe responsiblefor allday-to-dayoperational decisions affecting your Franchised Business. YourGeneral Manager must exert his or her full time besteffortsto the development and operation of your FranchisedBusiness and must attend and complete the Initial Training Program and all other training programs that we require from time to time. The General Manager must have the authority to make all day-to-day operations decisions affecting your Franchised Business, and may not engage in any other business activity, directly or indirectly, that requires substantial management responsibility or time commitments or that otherwise interfereswith his or her role as your General Manager.
Source: Item 15 — **OBLIGATION TO PARTICIPATE IN THE ACTUAL OPERATION OF THE FRANCHISE BUSINESS (FDD page 47)
What This Means (2025 FDD)
According to Aira Fitness's 2025 Franchise Disclosure Document, the General Manager is not required to have any equity interest in the franchisee. The FDD specifies that while the Aira Fitness business must be managed by a General Manager, who may also be the Principal, this General Manager is not required to have any ownership stake in the franchise.
This arrangement provides flexibility for the franchisee, as they can hire a manager without having to offer equity in the business. The General Manager is responsible for the day-to-day operational decisions and must dedicate their full-time efforts to the business. They must also complete the initial and ongoing training programs required by Aira Fitness.
This setup allows the Principal to focus on broader business strategies or other ventures, while entrusting the daily operations to a qualified manager. However, the General Manager cannot engage in other business activities that might interfere with their responsibilities at Aira Fitness. The Principal, who must maintain a majority ownership in the entity, is expected to stay informed about Aira Fitness's plans and initiatives.