What criteria must the transferee of a Big Air Trampoline Park franchise meet?
Big_Air_Trampoline_Park Franchise · 2025 FDDAnswer from 2025 FDD Document
- (i) the proposed transferee shall have demonstrated to Franchisor's satisfaction that it, he or she will meet in all respects Franchisor's standards applicable to new franchisees regarding experience, personal and financial reputation and stability, willingness and ability to devote its, his or her full time and best efforts to the operation of the Big Air Trampoline Business, and any other conditions as Franchisor may reasonably apply in evaluating new franchisees.
Franchisor must be provided with all information about the proposed transferee as Franchisor may reasonably require.
Because of the confidential information and trade secrets available to a franchisee, no assignment to a competitor of Franchisor will be permitted; and
- (vi) At Franchisor's option, the transferee must sign (and, upon Franchisor's request, shall cause all interested parties to sign), for a term ending on the expiration date
of the Franchise Agreement(s) and with the successor term as may be provided by the Franchise Agreement(s), the standard form of Franchise Agreement and Multi-Unit Development Agreement then being offered to new Multi-Unit Developers and any other ancillary agreements as Franchisor may require for the Big Air Trampoline Facilities, which agreements shall supersede the Franchise Agreements and the Multi-Unit Development Agreement between the Multi-Unit Developer and Franchisor in all respects and the terms of which agreements may differ from the terms of the Franchise Agreements and Multi-Unit Development Agreement, including, without limitation, the implementation of other fees and different royalty rates;
(vii) The Multi-Unit Developer and its principals must remain liable for all direct and indirect obligations to Franchisor in connection with the Big Air Trampoline Facilities before the effective date of transfer and will continue to remain responsible for their obligations of nondisclosure, noncompetition and indemnification as provided in the Franchise Agreements and Personal Guaranty, attached into this Agreement as Attachment C, and shall sign any and all instruments reasonably requested by Franchisor to further evidence this liability; and
(viii) Multi-Unit Developer or its approved transferee shall pay to Franchisor, at the time of said transfer, a transfer fee ("Development Transfer Fee") equal to Twenty Five Hundred Dollars ($2,500) for each unopened Big Air Trampoline Facility to be transferred, and Ten Thousand Dollars ($10,000), or such other amount as required by the terms of each individual Franchise Agreement, for each Big Air Trampoline Facility which is open and operating at the time Multi-Unit Developer notifies Franchisor of its intent to transfer or assign this Agreement (which transfer or assignment shall be in compliance with the terms of each open Big Air Trampoline Facility's individual Franchise Agreement), to cover Franchisor's administrative and other expenses in connection with the transfer of the Big Air Trampoline Facilities by the Multi-Unit Developer.
(i) All of the Multi-Unit Developer's accrued monetary obligations and all other outstanding obligations to Franchisor, its affiliates and suppliers must be fully paid and satisfied;
(ii) The Multi-Unit Developer must not be in default of any provision of its Franchise Agreements, any amendments thereof or successors thereto, or any other agreement between the Multi-Unit Developer and Franchisor, its subsidiaries or affiliates;
(iii) The Multi-Unit Developer and each of its affiliates, shareholders, members, partners, officers and directors must sign a general release, under seal, the consideration for which shall be the approval of the transfer, in a form satisfactory to Franchisor, of any and all claims against Franchisor and its affiliates, officers, directors, shareholders and employees, in their corporate and individual capacities, including, without limitation, claims arising under federal, state and local laws, rules and ordinances;
(iv) The transferee must enter into a written assignment, under seal and in a form satisfactory to Franchisor, assuming and agreeing to discharge all of the Multi-Unit Developer's obligations under the relevant Franchise Agreements and, if deemed necessary by Franchisor, the transferee's principals, individually, shall guarantee the performance of all these obligations in writing in a form satisfactory to Franchisor;
(v) The transferee must demonstrate to Franchisor's satisfaction that the transferee meets Franchisor's then-current educational, managerial and business standards; possesses a good moral character, business reputation and credit rating; has the aptitude and ability to open and operate the Big Air Trampoline Facilities (as may be evidenced by prior related experience or otherwise); has at least the same managerial and financial acumen required of new Multi-Unit Developers, and has sufficient equity capital, as determined by Franchisor in Franchisor's sole discretion, to open and operate the Big Air Trampoline Facilities required under the terms of this Multi-Unit Development Agreement;
Source: Item 23 — RECEIPT (FDD pages 53–255)
What This Means (2025 FDD)
According to the 2025 FDD, a potential transferee of a Big Air Trampoline Park franchise must meet several criteria to be approved by the franchisor. The transferee needs to demonstrate that they meet Big Air Trampoline Park's standards for new franchisees, particularly in areas like experience, personal and financial stability, and their dedication to operating the business full-time. The franchisor needs to be satisfied that the transferee will meet these standards. Also, no assignment to a competitor of Big Air Trampoline Park will be permitted due to the confidential information and trade secrets available to a franchisee.
Additionally, the transferee might have to sign the standard Franchise Agreement and any other related agreements then offered to new franchisees, potentially with different terms, fees, and royalty rates than the original agreement. The transferee may also need to provide personal guarantees to ensure they fulfill their obligations under the franchise agreements. The Multi-Unit Developer and its principals must remain liable for all direct and indirect obligations to Franchisor in connection with the Big Air Trampoline Facilities before the effective date of transfer and will continue to remain responsible for their obligations of nondisclosure, noncompetition and indemnification as provided in the Franchise Agreements and Personal Guaranty, attached into this Agreement as Attachment C, and shall sign any and all instruments reasonably requested by Franchisor to further evidence this liability.
Furthermore, the Multi-Unit Developer or its approved transferee shall pay to Franchisor, at the time of said transfer, a transfer fee of Twenty Five Hundred Dollars ($2,500) for each unopened Big Air Trampoline Facility to be transferred, and Ten Thousand Dollars ($10,000), or such other amount as required by the terms of each individual Franchise Agreement, for each Big Air Trampoline Facility which is open and operating at the time Multi-Unit Developer notifies Franchisor of its intent to transfer or assign this Agreement. This fee covers Big Air Trampoline Park's administrative and other expenses related to the transfer. The franchisor also requires that all outstanding monetary and other obligations to Big Air Trampoline Park, its affiliates, and suppliers are fully settled. The Multi-Unit Developer must not be in default of any provision of its Franchise Agreements, any amendments thereof or successors thereto, or any other agreement between the Multi-Unit Developer and Franchisor, its subsidiaries or affiliates.
Finally, the Multi-Unit Developer and each of its affiliates, shareholders, members, partners, officers and directors must sign a general release, under seal, the consideration for which shall be the approval of the transfer, in a form satisfactory to Franchisor, of any and all claims against Franchisor and its affiliates, officers, directors, shareholders and employees, in their corporate and individual capacities, including, without limitation, claims arising under federal, state and local laws, rules and ordinances; The transferee must enter into a written assignment, under seal and in a form satisfactory to Franchisor, assuming and agreeing to discharge all of the Multi-Unit Developer's obligations under the relevant Franchise Agreements and, if deemed necessary by Franchisor, the transferee's principals, individually, shall guarantee the performance of all these obligations in writing in a form satisfactory to Franchisor; The transferee must demonstrate to Franchisor's satisfaction that the transferee meets Franchisor's then-current educational, managerial and business standards; possesses a good moral character, business reputation and credit rating; has the aptitude and ability to open and operate the Big Air Trampoline Facilities (as may be evidenced by prior related experience or otherwise); has at least the same managerial and financial acumen required of new Multi-Unit Developers, and has sufficient equity capital, as determined by Franchisor in Franchisor's sole discretion, to open and operate the Big Air Trampoline Facilities required under the terms of this Multi-Unit Development Agreement.