Does Aira Fitness require specific financial qualifications from a potential transferee?
Aira_Fitness Franchise · 2025 FDDAnswer from 2025 FDD Document
ll provide us with the right to elect either to default and terminate this Agreement or to collect from you and the guarantors a transfer fee equal to two times the transfer fee provided for in Section 12.C.
- C. Conditions of Transfer. We condition our consent to any proposed transfer, whether to an individual, a corporation, a partnership or any other entity upon the following:
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- Transferee Qualifications. The transferee must meet all of our then-current requirements for the franchise we are offering at the time of the proposed transfer.
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- Payment of Amounts Owed. All amounts owed by you to us or any of our affiliates, your suppliers or any landlord for the Aira Fitness Business premises and Authorized Location, or upon which we or any of our affiliates have any contingent liability must be paid in full.
Source: Item 23 — **RECEIPTS (FDD pages 59–254)
What This Means (2025 FDD)
According to Aira Fitness's 2025 Franchise Disclosure Document, a potential transferee must meet all of Aira Fitness's then-current requirements for franchisees at the time of the proposed transfer. Aira Fitness also requires 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 they fall due.
This means that if you decide to sell your Aira Fitness franchise, the person or entity you sell it to must meet the same standards that Aira Fitness requires of new franchisees. This could include financial qualifications, experience, and other criteria. Aira Fitness needs to be confident that the new owner will be able to successfully run the business and meet its financial obligations.
Additionally, Aira Fitness needs to be satisfied that the financial terms of the sale itself won't negatively impact the business's ability to operate successfully after the transfer. This protects Aira Fitness's brand and ensures the ongoing success of the franchise system. Prospective franchisees should inquire about the specific financial qualifications required of a transferee to ensure a smooth transfer process.