What constitutes the 'Agreement' in the context of a Big Air Trampoline Park franchise?
Big_Air_Trampoline_Park Franchise · 2025 FDDAnswer from 2025 FDD Document
s Agreement, the Multi-Unit Developer will no longer have an exclusive Development Territory and each Big Air Trampoline Facility will be limited to operating solely at the franchised location ("Franchised Location") described in the individual Franchise Agreement. Multi-Unit Developer understands, acknowledges and agrees that as a Franchisee, Multi-Unit Developer will not receive any exclusive or protected territorial rights other than the territory granted with each Big Air Trampoline Facility at each Franchised Location.
- 1.3 This Agreement is not a franchise agreement and Multi-Unit Developer shall have no right to use in any manner the Marks or System by virtue hereof. Each Big Air Trampoline Facility will be governed by the individual Franchise Agreement signed by Franchisor and Multi-Unit Developer for each Big Air Trampoline Facility.
1.4 The Multi-Unit Developer must contribute some amount of its personal capital to the development of each Big Air Trampoline Facility and must own at least a 51% equity interest in each Big Air Trampoline Facility developed hereunder. In addition, Multi-Unit Developer shall ensure that a person ("Designate Business Manager") shall at all times devote his or her full time and attention to managing, supervising, and developing each Big Air Trampoline Facility and that the person is at all times identified to Franchisor. Multi-Unit Developer shall identify all equity owners of Multi-Unit Developer by completing the Statement of Shareholders/Members/Partners attached to this Agreement as Attachment D. Multi-Unit Developer shall provide Franchisor with an updated form of Attachment D within 10 business days of any change in the equity ownership of Multi-Unit Developer. The failure of Multi-Unit Developer to provide Franchisor with an updated Attachment D within the time frame specified in this Section 1.4 shall constitute a material default of this Agreement.
2. TERM
Unless sooner terminated pursuant to the provisions of Section 7, the term of this Agreement shall expire upon the earlier of (a) ______ years from the Effective Date, or (b) completion of the term of the Development Schedule.
Source: Item 23 — RECEIPT (FDD pages 53–255)
What This Means (2025 FDD)
According to the 2025 Franchise Disclosure Document, the 'Agreement' in the context of a Big Air Trampoline Park franchise refers to two distinct agreements: the Multi-Unit Development Agreement and the individual Franchise Agreement. The Multi-Unit Development Agreement outlines the rights and responsibilities of the Multi-Unit Developer to develop multiple Big Air Trampoline Park locations within a specific territory, according to a set development schedule. This agreement itself does not grant the right to use the Big Air Trampoline Park trademarks or system. Instead, it sets the stage for future individual Franchise Agreements.
For each Big Air Trampoline Park location that the Multi-Unit Developer intends to establish, a separate Franchise Agreement must be signed by both the Multi-Unit Developer and Big Air Trampoline Park. This individual Franchise Agreement governs the specific location and grants the right to operate a Big Air Trampoline Park at that location. The Multi-Unit Developer cannot begin construction or open any Big Air Trampoline Park until the Initial Franchise Fee is paid in full and the individual Franchise Agreement is signed. The location of each Big Air Trampoline Park is selected by the Multi-Unit Developer but is subject to Big Air Trampoline Park's prior authorization.
The term of the Franchise Agreement typically lasts for ten years from the date the Big Air Trampoline Park opens for business, with an option for a Successor Term of an additional 10 years at Big Air Trampoline Park's discretion. To obtain a Successor Term, the franchisee must execute a new Franchise Agreement and meet certain conditions, such as remaining current on all payment obligations and providing written notice of intent to renew within a specified timeframe. Big Air Trampoline Park reserves the right to modify the terms of the Franchise Agreement at the time of renewal, except that another Initial Franchise Fee will not be charged.