What were the financial implications for Big Air Trampoline Park regarding the sale of the unregistered franchise?
Big_Air_Trampoline_Park Franchise · 2025 FDDAnswer from 2025 FDD Document
n, as of the Effective Date stated below:
| State | Effective Date | |--------------|-------------------| | California | | | Hawaii | Not Registered | | Illinois | | | Indiana | | | Maryland | | | Michigan | | | Minnesota | | | New York | | | North Dakota | | | Rhode Island | | | South Dakota | | | Virginia | | | Washington | | | Wisconsin | | Other states may require registration, filing, or exemption of a franchise under other laws, such as those that regulate the offer and sale of business opportunities or seller-assisted marketing plans.
EXHIBIT J
BIG AIR FRANCHISING, LLC
RECEIPTS
EXHIBIT J RECEIPT (Retain This Copy)
This disclosure document summarizes certain provisions of the franchise agreement and other information in plain language. Read this disclosure document and all agreements carefully.
If Big Air Trampoline Park 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, us or an affiliate in connection with the proposed franchise sale.
Source: Item 3 — LITIGATION (FDD page 8)
What This Means (2025 FDD)
Based on the 2025 Franchise Disclosure Document, if Big Air Trampoline Park fails to deliver the disclosure document on time, or if the document contains false, misleading, or omits material information, the company may be in violation of federal and state laws. This must be reported to the Federal Trade Commission and the appropriate state agency. The disclosure document summarizes certain provisions of the franchise agreement and other information in plain language. Big Air Trampoline Park must provide the disclosure document to the prospective franchisee 14 calendar days before they sign a binding agreement or make a payment.
In certain states like Illinois, Iowa, Maine, Nebraska, New York, Oklahoma, Rhode Island, and South Dakota, Big Air Trampoline Park must provide the disclosure document at the first personal meeting to discuss the franchise or 10 business days before the execution of the franchise agreement or other agreement or the payment of any consideration that relates to the franchise relationship.
It is important for prospective franchisees to carefully read the disclosure document and all agreements. Failure to comply with franchise disclosure laws can lead to legal and financial repercussions for Big Air Trampoline Park, including potential fines, lawsuits, and the rescission of franchise agreements. Franchisees should be aware of their rights and responsibilities regarding franchise disclosure and seek legal counsel if they believe their rights have been violated.