What happens if the scheduled debit day for Aira Fitness falls on a holiday?
Aira_Fitness Franchise · 2025 FDDAnswer from 2025 FDD Document
Currently, Company is initiating monthly debits on the first day of every calendar week for payment of the Royalty Fees, National Marketing Fund contributions, website fees, yearly maintenance fees, interest, late fees, and any other amounts then due, unless that day falls on a holiday, in which case the debit will be initiated the following business day. The dates and intervals for initiating debits for amounts due under the Franchise Agreement may be changed upon delivery of notice to Franchisee.
Source: Item 23 — **RECEIPTS (FDD pages 59–254)
What This Means (2025 FDD)
According to Aira Fitness's 2025 Franchise Disclosure Document, if the scheduled debit day falls on a holiday, the debit will be initiated the following business day. Aira Fitness Franchising, LLC is authorized to initiate monthly Merchant Account debits for payments due, including Royalty Fees, National Marketing Fund contributions, website fees, yearly maintenance fees, interest, late fees, and any other amounts the franchisee owes. The exact dollar amount debited each time may vary.
Currently, these debits are scheduled for the first day of every calendar week. However, Aira Fitness retains the right to change these debit dates and intervals by providing notice to the franchisee. This means that while the FDD specifies the current debit schedule, Aira Fitness can modify it in the future.
If the Merchant Account lacks sufficient credit to cover the full amount due at the time of any debit, Aira Fitness is entitled to collect interest and late fees as outlined in the Franchise Agreement. They can then debit these amounts from the Merchant Account once sufficient funds are available. The franchisee is responsible for covering all costs or fees charged by the Approved Payment Processor related to handling these debits.