What are the possible conditions of the equipment that can be purchased for an Aira Fitness franchise, as stated in the Purchase Agreement?
Aira_Fitness Franchise · 2025 FDDAnswer from 2025 FDD Document
From time to time as we require, you must replace items of equipment as may be necessary for your Aira Fitness Business to conform to the standards for similarly situated new Aira Fitness Businesses.
For instance, we require that you replace all fitness equipment within three years of the Effective Date of this Agreement.
If you choose to purchase the fitness equipment, at the end of each three year period, you may offer your old equipment to anyone, but we have the right of first refusal to buy the equipment on the same terms and conditions as any potential buyer.
You must give us seven (7) days' written notice of any potential sale of your old equipment and a reasonable opportunity to match any offer you have that you intend to accept.
We are under no obligation to actually exercise our right of first refusal.
If you choose to lease the fitness equipment, at the end of each three year period, you must return the old equipment to the designated or approved supplier of the fitness equipment or otherwise per the terms of the equipment lease, which designated or approved supplier may be us or our affiliate.
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.
Source: Item 23 — **RECEIPTS (FDD pages 59–254)
What This Means (2025 FDD)
Based on the 2025 Aira Fitness Franchise Disclosure Document, franchisees are required to maintain up-to-date equipment. Specifically, Aira Fitness requires franchisees to replace all fitness equipment within three years of the agreement's effective date.
At the end of each three-year period, franchisees have the option to either purchase or lease replacement equipment from a designated or approved supplier, which may include Aira Fitness or its affiliates. If a franchisee chooses to purchase the fitness equipment, they may offer their old equipment to anyone. However, Aira Fitness retains the right of first refusal to buy the equipment on the same terms and conditions as any potential buyer. The franchisee must provide Aira Fitness with seven days' written notice of any potential sale and an opportunity to match the offer.
If the franchisee chooses to lease the fitness equipment, they must return the old equipment to the designated or approved supplier, which again may be Aira Fitness or its affiliate, according to the terms of the equipment lease. Following this, the franchisee must enter into a new purchase agreement or lease for replacement equipment with a designated or approved supplier. This ensures that all Aira Fitness locations maintain a consistent standard of equipment, which Aira Fitness believes is necessary for continued public acceptance and patronage.