What is the initial term length for a Big Air Trampoline Park franchise agreement?
Big_Air_Trampoline_Park Franchise · 2025 FDDAnswer from 2025 FDD Document
3. TERM OF THE AGREEMENT AND LICENSE
- 3.1 This Agreement and the License granted shall become effective on the date this Agreement is executed by Franchisor and shall continue until midnight on the day before the tenth anniversary of the date the Big Air Trampoline Facility opened for business ("Term"), subject, however, to termination in accordance with the provisions of this Agreement. When the initial Term expires, Franchisee shall have the option at Franchisor's sole and absolute discretion to extend Franchisee's rights to operate the Big Air Trampoline Business for one additional term ("Successor Term") of 10 years. Franchisee must pay the Successor Franchise Fee set forth in Section 3.4(b) and otherwise comply with the requirements set forth in this Section 3.
- 3.2 Franchisor may refuse to renew this Agreement and License if Franchisee has:
- (a) Failed to remedy any breach of this Agreement specified by Franchisor in a written notice to Franchisee as per Sections 17.1, 17.2 or 17.3; or
- (b) Committed and received notice of two or more breaches of this Agreement in the 24 months prior to the end of the Term, even if such breaches were timely remedied; or
- (c) Franchisee has failed to give Franchisor a written notice of intent to renew no less than six months or more than nine months prior to expiration of the Term; or
- (d) Franchisee is not current in payment obligations to Franchisor or to Franchisee's Lessor, suppliers, or trade creditors.
- 3.3 If Franchisee opts to extend its rights to operate the Big Air Trampoline Business at the end of the Term, and Franchisor consents to such extension, Franchisee shall execute a new Franchise Agreement ("Successor Franchise Agreement") and all other agreements in the form then being used by Franchisor in granting new franchises. Franchisor reserves the right to change any term(s) of the Franchise Agreement form to be signed by Franchisee at the time Franchisee extends its rights to operate the Big Air Trampoline Business (except as specified below). There shall not, however, be another Initial Franchise Fee charged at the time Franchisee signs the Successor Franchise Agreement. IN
Source: Item 23 — RECEIPT (FDD pages 53–255)
What This Means (2025 FDD)
According to the 2025 Big Air Trampoline Park Franchise Disclosure Document, the initial term of the franchise agreement lasts until midnight on the day before the tenth anniversary of when the Big Air Trampoline Park facility first opened for business. This initial term is subject to potential termination as outlined in the agreement.
Upon completion of the initial term, franchisees have the option to extend their franchise rights for an additional 10-year term, referred to as the "Successor Term." However, this extension is contingent upon Big Air Trampoline Park's approval, which is at their sole discretion. To be eligible for a Successor Term, franchisees must pay a Successor Franchise Fee, as detailed in the relevant section of the franchise agreement, and meet all other specified requirements.
Big Air Trampoline Park retains the right to deny renewal of the franchise agreement under certain conditions. These conditions include failure to correct any breaches of the agreement after receiving written notice, committing two or more breaches within the 24 months leading up to the end of the initial term (even if those breaches were corrected), failing to provide timely written notice of intent to renew (between six and nine months before the term expires), or not being current with payment obligations to Big Air Trampoline Park, their landlord, suppliers, or other creditors. If a franchisee is granted a Successor Term, they must sign a new franchise agreement that may contain updated terms, except for the initial franchise fee, which will not be charged again.