Who is responsible for complying with franchise registration and disclosure laws in connection with a proposed Aira Fitness assignment or transfer?
Aira_Fitness Franchise · 2025 FDDAnswer from 2025 FDD Document
If AIRA Fitness Franchising LLC offers you a franchise, it must provide this disclosure document to you 14 calendar-days before you sign a binding agreement with, or make a payment to, the franchisor or an affiliate in connection with the proposed franchise sale (or sooner if required by state law). New York requires that we give you this disclosure document at the earlier of the first personal meeting or 10 business days before the execution of the franchise or other agreement or the payment of any consideration that relates to the franchise relationship. Michigan requires that we give you this disclosure document at least 10 business days before the execution of any binding franchise or other agreement or the payment of any consideration, whichever occurs first.
If AIRA Fitness Franchising LLC does not deliver this disclosure document on time or if it contains a false or misleading statement, or a material omission, a violation of federal law and state law may have occurred and should be reported to the Federal Trade Commission, Washington, D.C. 20580 and the state agencies listed in Exhibit A to this disclosure document.
Source: Item 23 — **RECEIPTS (FDD pages 59–254)
What This Means (2025 FDD)
Based on the 2025 Aira Fitness Franchise Disclosure Document, Aira Fitness Franchising LLC is responsible for providing the disclosure document. Specifically, Aira Fitness Franchising LLC must provide the disclosure document to a prospective franchisee 14 calendar days before they sign a binding agreement or make a payment related to the franchise sale. This timeframe may be shorter if required by state law. For example, New York requires the disclosure document at the earlier of the first personal meeting or 10 business days before the agreement or payment of any consideration. Michigan also requires at least 10 business days before the agreement or payment.
This disclosure requirement is crucial for potential Aira Fitness franchisees because it ensures they have enough time to review the franchise agreement and other important information before committing to the franchise. The disclosure document summarizes key provisions of the franchise agreement and other relevant information. It is written in plain English to help franchisees understand their rights and obligations.
If Aira Fitness Franchising LLC fails to deliver the disclosure document on time, or if the document contains false or misleading statements or omits material information, it could be a violation of federal and state law. In such cases, the potential franchisee can report the violation to the Federal Trade Commission and the state agencies listed in Exhibit A of the disclosure document. This provision protects franchisees from unfair or deceptive practices by the franchisor.
Prospective Aira Fitness franchisees should carefully read the disclosure document and all related agreements. They should also consult with an attorney or financial advisor to fully understand the terms of the franchise agreement and assess the risks and benefits of investing in an Aira Fitness franchise. This due diligence is essential to making an informed decision and avoiding potential legal or financial issues in the future.