What is required for an assignment or sublease by a Big Air Trampoline Park franchisee to be effective?
Big_Air_Trampoline_Park Franchise · 2025 FDDAnswer from 2025 FDD Document
15.7 No transfer or assignment of this Agreement will be approved by Franchisor or be effective unless and until all the following conditions are satisfied:
(a) Franchisee being then in full compliance herewith and paying to Franchisor all outstanding debts or amounts owing to Franchisor and any Affiliates or suppliers of Franchisor;
(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 needs to meet several conditions before a transfer or assignment of the Franchise Agreement is approved and becomes effective. The franchisee must be in full compliance with the agreement, including paying all outstanding debts to Big Air Trampoline Park, its affiliates, and suppliers.
Additionally, the parties involved in the proposed transaction must enter into a binding agreement that is subject to Big Air Trampoline Park's approval, and a copy of this agreement must be furnished to Big Air Trampoline Park. The franchisee is also responsible for advising each prospective transferee of these terms. The proposed transferee must meet Big Air Trampoline Park's standards for new franchisees, demonstrating sufficient experience, a good personal and financial reputation, stability, and the ability to devote full-time effort to the business. Big Air Trampoline Park must receive all required information about the proposed transferee for evaluation.
Furthermore, the proposed transferee, or the owners of the transferee entity, must provide personal guarantees as required by Big Air Trampoline Park, ensuring the transferee's performance of their obligations. Due to the confidential information and trade secrets involved, Big Air Trampoline Park will not permit any assignment to a competitor. These stipulations are put in place by Big Air Trampoline Park to ensure that any new franchisee is well-qualified and that the brand's standards and confidential information are protected.