What assets must be included in a sale offer for a Big Air Trampoline Park franchise?
Big_Air_Trampoline_Park Franchise · 2025 FDDAnswer from 2025 FDD Document
ithout Franchisee's consent and, provided the transferee expressly assumes and undertakes to perform Franchisor's obligations in all material respects, do so free of any responsibility or liability whatsoever to Franchisee after the transaction occurs.
- 15.3 With regard to any of the above sales, assignment and dispositions, Franchisee expressly and specifically waives any claims, demands, or damages against Franchisor arising from or related to the transfer of the Marks, assets or the System from Franchisor to any other party.
- 15.4 Franchisee understands and acknowledges that the rights and duties set forth in this Agreement are personal to Franchisee. Accordingly, this Agreement, Franchisee's rights and interests hereunder, the property and assets owned and used by Franchisee in connection with the Big Air Trampoline Business, and any shares, stock, membership or interest in any corporation, limited liability company, or other entity having an interest in the Big Air Trampoline Business, shall not be voluntarily or involuntarily, directly or indirectly sold, pledged, assigned, transferred, shared, subdivided, subfranchised, encumbered or transferred in any way (including, without limitation, in the event of the death of Franchisee if Franchisee is an individual), in whole or in part, in any manner whatsoever without the prior written approval of Franchisor, which approval will not be unreasonably withheld or delayed, and
compliance with all terms of this Section 15. Any unauthorized sale, assignment, transfer or other conveyance, by operation of law or otherwise, or any attempt to do so, shall be deemed void and grounds for termination of this Agreement by Franchisor.
- 15.5 With and after each valid assignment of this Agreement pursuant to this Section 15, the assignee or assignees of Franchisee shall be deemed to be Franchisee under this Agreement and will be bound by and liable for all of Franchisee's existing and future obligations. No stockholder in any corporation, member in any limited liability company or partner in any partnership which becomes Franchisee shall have any rights under this Agreement by reason of his, her or its stock ownership, membership interest or partnership interest.
- 15.6 If Franchisee shall at anytime determine to sell, in whole or in part, the Big Air Trampoline Business, Franchisee shall obtain a bona fide, executed, written offer ("Purchase Offer") for the Big Air Trampoline Business together with all real or personal property, leasehold improvements and other assets used by Franchisee in its Big Air Trampoline Business from a responsible, arms' length, and fully disclosed purchaser and shall submit an exact copy of such Purchase Offer to Franchisor.
Source: Item 23 — RECEIPT (FDD pages 53–255)
What This Means (2025 FDD)
According to the 2025 FDD, a Big Air Trampoline Park franchisee needs the franchisor's approval before selling their franchise. Specifically, the franchisee must get written approval from Big Air Trampoline Park before any voluntary or involuntary sale, pledge, assignment, transfer, or encumbrance of the franchise, its rights, interests, or the assets used in the business. This includes shares or interests in any entity owning the Big Air Trampoline Business. Any unauthorized attempt to transfer the franchise is considered void and can lead to termination of the Franchise Agreement.
This requirement ensures that Big Air Trampoline Park maintains control over who operates its franchises and upholds brand standards. The approval process allows them to vet potential buyers and ensure they meet the necessary qualifications and financial stability to successfully run a Big Air Trampoline Park location. This protects the brand's reputation and the interests of other franchisees in the system.
Furthermore, the FDD states that the franchisee remains liable for all obligations to Big Air Trampoline Park before the transfer. They will continue to be responsible for nondisclosure, noncompetition, and indemnification obligations as outlined in the Franchise Agreements and Personal Guaranty. Additionally, the franchisee or the approved transferee must pay a transfer fee to Big Air Trampoline Park. The Development Transfer Fee is $2,500 for each unopened Big Air Trampoline Facility and $10,000 for each open and operating facility at the time of transfer notification. This fee covers Big Air Trampoline Park's administrative and other expenses related to the transfer.