Does Aira Fitness require Cooperatives to prepare financial statements?

According to Aira Fitness's 2025 Franchise Disclosure Document, Cooperatives are not required to prepare financial statements. However, Aira Fitness reserves the right to administer the Cooperatives' funds and require payment from its members via electronic funds transfer. Aira Fitness also has the right to require Cooperatives to be formed, changed, dissolved, or merged.

These Cooperatives are local or regional advertising cooperatives controlled by their members. If Aira Fitness establishes a Cooperative in a franchisee's market, the franchisee will be required to participate and contribute, with contributions not exceeding $200 per month unless a 2/3 vote of the members approves a higher fee. Payments made to the cooperative are credited toward the franchisee's local advertising expense requirement.

While financial statements are not mandated, the franchisor's oversight and control over the Cooperatives' funds and structure highlight the importance of understanding the financial management and operational aspects of these entities. Prospective franchisees should inquire about the typical financial practices and reporting mechanisms employed by existing Aira Fitness Cooperatives to ensure transparency and accountability in fund management.