What is the length of the initial term for a Big Air Trampoline Park franchise agreement?
Big_Air_Trampoline_Park Franchise · 2025 FDDAnswer from 2025 FDD Document
- 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 Big Air Trampoline Park's 2025 Franchise Disclosure Document, the initial term of the franchise agreement becomes effective on the date the agreement is executed by both the franchisor and franchisee. The term continues until midnight on the day before the tenth anniversary of when the Big Air Trampoline Facility first opened for business.
At the end of the initial term, the franchisee has the option to extend their rights to operate the Big Air Trampoline Business for one additional term of 10 years, but this is subject to the franchisor's sole and absolute discretion. To extend the term, the franchisee must pay the successor franchise fee and comply with other requirements detailed in the franchise agreement.
The franchisor may refuse to renew the agreement if the franchisee fails to correct any breaches of the agreement, commits multiple breaches, fails to provide timely notice of intent to renew, or is not current on payment obligations. If the franchisee and franchisor agree to an extension, a new franchise agreement will be executed, and the franchisor reserves the right to change any terms, except for charging another initial franchise fee.