What happens if the Aira Fitness equipment is damaged or lost?
Aira_Fitness Franchise · 2025 FDDAnswer from 2025 FDD Document
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.
In the event your Aira Fitness Business is destroyed or damaged and you repair the Aira Fitness Business at the Authorized Location (rather than relocate the Aira Fitness Business), you must repair and reopen the Aira Fitness Business at the Authorized Location in accordance with our then-current standards for the destroyed or damaged area within twenty (20) days of the date of occurrence of the destruction or damage, or such longer time as we reasonably determine, in our sole judgment, is required given the nature and extent of the damage.
You must maintain in full force and effect throughout the term of this Agreement that insurance which you determine is necessary or appropriate for liabilities caused by or occurring in connection with the development or operation of the Aira Fitness Business.
Such insurance must include, at a minimum: (i) special/causes of loss coverage forms, including mechanical/equipment breakdown (previously called "All Risk coverage") on the Aira Fitness Business and all fixtures, equipment and other property used in the operation of the Aira Fitness Business, for full replacement value of the equipment and improvements; (ii) business interruption insurance covering a minimum 12 months loss of income, written on an actual loss sustained basis, including coverage for our monthly fees with us named as a loss payee with respect to those fees;
Source: Item 23 — **RECEIPTS (FDD pages 59–254)
What This Means (2025 FDD)
According to Aira Fitness's 2025 Franchise Disclosure Document, if equipment is damaged, the franchisee must enter into a purchase agreement or lease for replacement equipment with a designated or approved supplier, which may be Aira Fitness or its affiliate.
Additionally, the franchisee is required to maintain special/causes of loss coverage forms, including mechanical/equipment breakdown (previously called "All Risk coverage") on the Aira Fitness Business and all fixtures, equipment and other property used in the operation of the Aira Fitness Business, for full replacement value of the equipment and improvements. The franchisee must also maintain business interruption insurance covering a minimum 12 months loss of income, written on an actual loss sustained basis, including coverage for Aira Fitness's monthly fees with Aira Fitness named as a loss payee with respect to those fees.
In the event the Aira Fitness Business is destroyed or damaged, the franchisee must repair and reopen the Aira Fitness Business at the Authorized Location in accordance with Aira Fitness's then-current standards for the destroyed or damaged area within twenty (20) days of the date of occurrence of the destruction or damage, or such longer time as Aira Fitness reasonably determines, in its sole judgment, is required given the nature and extent of the damage. This quick turnaround is essential to minimize disruption and maintain service standards.