What must a Big Air Trampoline Park franchisee do if they want to sell their business?
Big_Air_Trampoline_Park Franchise · 2025 FDDAnswer from 2025 FDD Document
- (f) Franchisee shall, at Franchisor's request, prepare and furnish to the transferee and/or Franchisor such financial reports and other data relating to the Big Air Trampoline Business and its operations as Franchisor deems reasonably necessary or appropriate for the transferee and/or Franchisor to evaluate the Big Air Trampoline Business and the proposed transfer.
Franchisee authorizes Franchisor to confer with a proposed transferee and furnish it with information concerning the Big Air Trampoline Business and the terms and conditions of the proposed transfer, and Franchisor may do so without any liability, except for intentional misstatements made to a transferee;
- (g) the parties to the proposed transaction will have entered into a binding agreement subject only to the rights of Franchisor set out in Section 16.
Franchisor shall be furnished a copy of this binding agreement, and such agreement shall be subject to Franchisor's approval in writing.
Franchisee must advise each prospective transferee of this provision and the other terms of this Agreement;
(h) the proposed transferee or the stockholders, partners, members or owners of a beneficial interest in a proposed corporation, partnership, limited liability company or other entity transferee, provide jointly and severally such personal guarantees as Franchisor may request, guaranteeing the proposed transferee's performance of its obligations under the agreements to be entered into;
(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
Source: Item 23 — RECEIPT (FDD pages 53–255)
What This Means (2025 FDD)
According to the 2025 FDD, a Big Air Trampoline Park franchisee looking to sell their business must adhere to several requirements. First, the franchisee must provide financial reports and other data about the business to both the potential buyer and Big Air Trampoline Park, allowing them to evaluate the business and the proposed sale. Big Air Trampoline Park is authorized to discuss the business and the terms of the proposed transfer with the potential buyer without liability, unless intentional misstatements are made. The franchisee is responsible for informing any prospective buyer about these requirements and other terms of the Franchise Agreement.
Furthermore, the parties involved in the transaction must enter into a binding agreement that is subject to Big Air Trampoline Park's written approval. The franchisee must provide Big Air Trampoline Park with a copy of this agreement. The potential buyer, along with its owners or stakeholders, must provide personal guarantees as requested by Big Air Trampoline Park, ensuring they fulfill their obligations under the agreements.
Finally, the potential buyer must meet Big Air Trampoline Park's standards for new franchisees, including demonstrating sufficient experience, a good personal and financial reputation, financial stability, and the willingness and ability to dedicate their full-time efforts to operating the Big Air Trampoline Park business. The potential buyer must provide all information reasonably required by Big Air Trampoline Park for evaluation. Importantly, no sale to a competitor of Big Air Trampoline Park will be permitted due to the confidential information and trade secrets involved.