What schedule lists the equipment being leased to the Aira Fitness franchisee?
Aira_Fitness Franchise · 2025 FDDAnswer from 2025 FDD Document
(iii) FRANCHISEE ACCEPTS THE CONDITION OF THE EQUIPMENT AS DELIVERED ON:
| Date: | |--------------| | Franchisee: | | By: | | (Print Name) |
EXHIBIT 1 TO PURCHASE AGREEMENT
List of Initial Fitness Equipment
EXHIBIT G FITNESS EQUIPMENT LEASE
FITNESS EQUIPMENT LEASE AGREEMENT
| THIS LEASE | AGREEMENT (the "Agreement") is made on the day of, 20, | |
|---|---|---|
| (the "Effective Date") by and between Pure Gym Equipment LLC, an Illinois limited liability company | ||
| ("Franchisor's Affiliate") and, a, | ||
| (hereinafter called "You" or "Franchisee") for the lease | of Fitness Equipment for Franchisee's Aira Fitness | |
| franchise business located at ("Business Premises"). | ||
| WITNESSETH | ||
| WHEREAS, Franchisee | and Franchisor's | |
| owns and operates an Aira Fitness franchise business | ||
| Affiliate | ||
| is in the business of leasing and selling fitness equipment to Aira Fitness franchisees; | ||
| WHEREAS, Franchisor's Affiliatedesires to provide for Franchisee's equipment needs as they | ||
| arise from time to time by supplying it equipment. | ||
| WHEREAS, Franchisee is leasing from Franchisor's Affiliate and Franchisor's Affiliate is | ||
| leasing to Franchisee the equipment listed on Schedule 1 to this Agreement on the terms | ||
| described in this Agreement. |
Source: Item 23 — **RECEIPTS (FDD pages 59–254)
What This Means (2025 FDD)
According to Aira Fitness's 2025 Franchise Disclosure Document, the equipment being leased to the franchisee is listed on Schedule 1 of the Lease Agreement. The Lease Agreement is between the franchisee and Pure Gym Equipment LLC, which is Aira Fitness's affiliate. The document specifies that the franchisee is leasing equipment from the franchisor's affiliate, and the equipment details are available on Schedule 1 of the agreement.
This means that prospective Aira Fitness franchisees should carefully review Schedule 1 to understand exactly what equipment is included in the lease. This schedule would detail the specific types and quantities of fitness equipment provided.
It is important for franchisees to understand the terms and conditions outlined in the Lease Agreement, including the equipment listed on Schedule 1, as it defines their obligations and the equipment they will be using to operate their Aira Fitness franchise. Reviewing Schedule 2, which contains the Guaranty form, is also important to understand obligations.