Does Aira Fitness provide income statements in the FDD?
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, Item 23 discusses financial reporting requirements for franchisees. Franchisees are required to furnish monthly profit and loss statements and balance sheets, as well as calendar year-end balance sheets and annual profit and loss statements. These reports must reflect all year-end adjustments and be submitted in the manner and time designated by Aira Fitness.
Furthermore, the FDD includes audited financial statements for Aira Fitness Franchising LLC for the years ended December 31, 2023, and December 31, 2022, along with an independent accountant's audit report. This report encompasses the balance sheets as of December 31, 2024, December 31, 2023, and December 31, 2022, the related profit and loss statements, statements of cash flows, statements of shareholders' equity, and related notes for the twelve-month periods then ended.
These financial statements and reporting requirements ensure that Aira Fitness has access to the financial performance of its franchisees and the overall financial health of the company. Prospective franchisees should carefully review these requirements and the provided financial statements to understand the financial obligations and potential performance of an Aira Fitness franchise.