How many years of balance sheets are included for Aira Fitness?
Aira_Fitness Franchise · 2025 FDDAnswer from 2025 FDD Document
st day of each calendar month a report of the Gross Sales of the Aira Fitness Business for the preceding calendar month in the manner we designate which may occur through required software programs. You will furnish to us at our request the following reports in the manner and the time we designate: monthly profit and loss statement and balance sheet; calendar year-end balance sheet and an annual profit and loss statement for the calendar year reflecting all year-end adjustments; all state and local sales tax returns and all federal, state and local income tax returns; reports on membership; and such other reports as we may require from time to time. You must verify and sign all reports submitted to us. If you fail to report your monthly Gross Sales on a timely basis, we may estimate your Gross Sales; we may then withdraw any unpaid Royalties, National Marketing fees or other amount due by use of our Approved Payment Processor.
Source: Item 21 — **FINANCIAL STATEMENTS (FDD pages 58–59)
What This Means (2025 FDD)
According to Aira Fitness's 2025 Franchise Disclosure Document, franchisees must furnish Aira Fitness with a monthly profit and loss statement and balance sheet, a calendar year-end balance sheet, and an annual profit and loss statement for the calendar year reflecting all year-end adjustments.
Franchisees are also required to provide all state and local sales tax returns and all federal, state, and local income tax returns, reports on membership, and any other reports that Aira Fitness may require from time to time. All reports submitted to Aira Fitness must be verified and signed.
For a period of five years from the date of preparation, franchisees must keep on file at their principal office and make available to Aira Fitness all records, including receipts, invoices, payroll records, check stubs, bank deposit receipts, sales tax records and returns, business and personal tax returns, and such journals and transactions which properly summarize the transactions of the business operations of the Aira Fitness Business. Franchisees also grant Aira Fitness permission to have access to all electronic records maintained in Technology Systems that Aira Fitness requires them to use.