What information must be provided to Aira Fitness regarding the terms of a proposed Aira Fitness franchise transfer?
Aira_Fitness Franchise · 2025 FDDAnswer from 2025 FDD Document
of the Designated Area under the new franchise agreement. The Designated Area modification, if any, will be noted in the new franchise agreement issued with respect to the transfer.
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- Transaction Terms. You or the proposed transferee have provided us with all information we have reasonably requested regarding the terms of the proposed transfer, and we are satisfied that the financial terms and conditions of the proposed transfer will not have a materially adverse effect on the business' post-transfer ability to continue in operation and to meet its liabilities as the fall due.
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- Other Conditions. You must have complied with any other conditions that we reasonably require from time to time as part of our transfer policies.
- D. Death, Disability or Incapacity. If any individual who is an Owner dies or becomes disabled or incapacitated and the decedent's or disabled or incapacitated person's heir or successor-in-interest wishes to continue as an Owner, such person or entity must apply for our consent under Section 12.B, comply with the training requirements of Section 7.B, pay the transfer fee, if applicable, under Section 12.C, and satisfy the transfer conditions under Section 12.C, as in any other case of a proposed transfer, all within one hundred eighty (180) days of the death or event of disability or incapacity. During any transition period to an heir or successor-in-interest, the Aira Fitness Business still must be operated in accordance with the terms and conditions of this Agreement. If the transferee of the decedent or disabled or incapacitated person is the spouse or child of such person, the transfer conditions in Section 12.C will apply; provided no transfer fee will be payable to us and we will not have a right of first refusal as stated in Section 12.E.
Source: Item 23 — **RECEIPTS (FDD pages 59–254)
What This Means (2025 FDD)
According to Aira Fitness's 2025 Franchise Disclosure Document, a franchisee seeking to transfer their franchise must provide all reasonably requested information regarding the terms of the proposed transfer. Aira Fitness needs to be satisfied that the financial terms and conditions of the transfer won't negatively impact the business's ability to operate and meet its financial obligations after the transfer. The franchisee must also comply with any other conditions that Aira Fitness reasonably requires as part of its transfer policies.
As part of the transfer application, the franchisee must submit Aira Fitness's form of application for consent to transfer, accompanied by the necessary documents, including a copy of the proposed purchase or transfer agreement, and indicate whether the franchisee or an owner intends to retain a security interest in the transferred property. Any agreement used in connection with a transfer is subject to Aira Fitness's prior written approval, which will not be unreasonably withheld.
Furthermore, the franchisee must ensure that the proposed transferee meets all of Aira Fitness's then-current requirements for new franchisees. All outstanding amounts owed to Aira Fitness, its affiliates, suppliers, or the landlord must be paid in full. The franchisee must also have submitted all required reports to Aira Fitness. The franchisee, each owner, and each guarantor must execute all required transfer documents, including a general release of claims. The transferee must also comply with the training requirements, potentially at their own expense.
Aira Fitness also has the right to request financial reports and other data related to the Aira Fitness business to evaluate the proposed transfer. Aira Fitness can confer with potential transferees and provide them with information about the business without liability, except for intentional misstatements. This information is solely for evaluating the transfer and should not be considered earnings claims or guarantees of success.