ANYTIME FITNESS FRANCHISE DISCLOSURE DOCUMENT

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ANYTIME FITNESS, INC. NOTES TO FINANCIAL STATEMENTS December 31,2008 Promissory note payable in 60 monthly installments of $2,946 including interest 7.1%, maturing in March 20l3, payable to Anchor Banle Secured by assets of the Company. Promissory note payable in 60 monthly installments of $1,432 including interest 8.25%, maturing in December 2011, payable to Anchor Bank. Secured by assets of the Company. Total long-term notes portion Less current portion Long-term notes payable Future minimum debt payments are as follows: 2009 2010 2011 2012 2013 Thereafter Total principal payments Note 9 CAPITALIZED LEASE OBLIGATIONS Year Ending December 31, 2009 2010 2011 Total minimum lease payments Less: amount representing interest $217,149 225,271 222,576 170,668 85,163 8,853 $929,680 Net present value of minimum lease obligations Less: current portion Long-term portion 14 Amount $112,077 73,743 22,761 208,581 (13,376) 195,205 (102,912) $91,838 $129,743 46,815 929,680 (217,149) $712,531
ANYTIME FITNESS, INC. NOTES TO FINANCIAL STATEMENTS December 31, 2008 The following equipment is held under capital leases at December 31, 2008: Fitness equipment Less: Accumulated depreciation $313,643 114,046 $427,690 Depreciation of equipment held under capital leases was $97,542 for the year ending December 31, 2008. Note 10 BUILDING AND EOUIPMENT OPERATING LEASES The Company leases various equipment and facilities under operating leases with terms of 5 to 8 years. The Company's office is leased from a related party as discussed in Note 4. Under these facility leases, the Company is obligated to pay all repair and maintenance costs. Total rent expense was $866,209 for the year ending December 31,2008. The future minimum rental payments due under non-cancelable operating leases at December 31,2008 are as follows: 0Eeratin& Leases Related Party Unrelated Party Real Estate Real Estate EguiEment Total 2009 $219,173 $431,959 $41,069 $692,201 2010 495,627 41,069 536,696 2011 456,902 41,069 497,971 2012 420,514 24,126 444,640 2013 332,328 6,032 338,360 Thereafter 63,623 63,623 Total lease commitments $219,173 $2,200,953 $153,365 $2,573,491 Note 11 RETIREMENT PLAN The Company sponsors a 401(1
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ANYTIME FITNESS FRANCHISE DISCLOSUR
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ANYTIME FITNESS, LLC FRANCmSE DISCL
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operations and licenses. Many state
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1. Anytime Fitness, Inc. v. Reserve
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If you are an existing franchisee t
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Type of Fee (Note 1) Amount (Note 2
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AMOUNT TYPE OF ANYTIME METHOD TO WH
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(7) We require you have an automate
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We may negotiate preferred vendor c
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Section in Franchise Section in Dev
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Under the personal guaranty, which
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$150,000 per location. Gaia will ty
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ITEM 11. FRANCmSOR'S ASSISTANCE, AD
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Name Subjects Taught Background Deb
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the initial training, will provide
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services to the fund. We will not s
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ITEM 13. TRADEMARKS The Franchise A
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Provision b. Renewal or extension o
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Section in Franchise or Provision O
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Section in Franchise or Provision O
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ACCOUNTANT HAS AUDITED THESE FIGURE
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the third (800 members) column. Bec
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State Year Number of Transfers 2006
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Reacquired Ceased Outlets by the Op
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Outlets Outlets at Reacquired Outle
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Name l City and State Telephone Num
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Name l City and State Telephone Num
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FDD EXHIBIT A LIST OF STATE AGENCIE
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Virginia State Corporation Commissi
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FDD EXHIBITB TABLE OF CONTENTS OF O
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150 -151 152 153 153 154 -160 161 -
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FDD EXHIBITC LIST OF FRANCmSEES AS
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Name Scott & Shelby Mitteer Shane M
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Name Address Telephone GymDay Corp.
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Name Address Telephone Full of Life
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Name Address Telephone Colorado 534
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Name Address Telephone Good Life Ve
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Name Address Telephone H-I02 Inc. 1
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Name Address Telephone Chris Naples
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Name Address Telephone Bill Taylor
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Name Address Telephone Make It Happ
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Name Address Telephone Joe Koeppl 1
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Name Address Telephone Temple Keepe
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Name Address Telephone 7350 West St
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Name Address Telephone 24 Fitness,
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Name Address Telephone Dana Cates H
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Name Address Telephone Metairie Fit
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Name Address Telephone Ultimate Sec
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Name Address Telephone NK Fitness,
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Name Address Telephone FIF, Inc. 65
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Name Address Telephone J Abernethy,
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Name Address Telephone Kenneth & Kr
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Name Miranda Hills Miranda Hills Mi
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Name Address Telephone Kenny Stubbl
Page 111 and 112: Name Address Telephone West-Am Fitn
Page 113 and 114: Name Address Telephone 24 Fitness,
Page 115 and 116: Name Address Telephone Clifford Pie
Page 117 and 118: Name Address Telephone Rick Whittin
Page 119 and 120: Name Address Telephone Effects Pers
Page 121 and 122: Name Address Telepbone RL W Enterpr
Page 123 and 124: Name Address Telephone Silent Owl,
Page 125 and 126: Name Address Telephone 2101 Broadwa
Page 127 and 128: Name Address Telephone Dennis Rudni
Page 129 and 130: Name Address Telephone Fitness 180,
Page 131 and 132: Name Address Telephone 1604 N Calab
Page 133 and 134: Name Address Telephone Jerry Greger
Page 135 and 136: Name Address Telephone CM Fitness,
Page 137 and 138: Name Address Telephone Erik Recende
Page 139: Name Address Telephone Helen Wada 1
Page 142: Name Address Telephone Scott Schimm
Page 145 and 146: FDD EXHIBITD FINANCIAL STATEMENTS
Page 147 and 148: ANYTIME FITNESS, INC. FINANCIAL STA
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Page 156 and 157: ANYTIME FITNESS, INC. STATEMENT OF
Page 158 and 159: ANYTIME FITNESS, INC. NOTES TO FINA
Page 166 and 167: ANYTllvIE FITNESS, INC. FINANCIAL S
Page 173: SUPPLEMENTAL DISCLOSURES OF CASH FL
Page 182 and 183: FA 12/09 FRANCHISE AGREEMENT ANYTIM
Page 184 and 185: ANYTIME FITNESS FRANCHISE AGREEMENT
Page 186 and 187: fees and a modification to the Prot
Page 188 and 189: 5. MONTHLY FEE A. Monthly Fee. You
Page 190 and 191: 1. We will have ten (10) business d
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Page 194 and 195: 1. You acknowledge that the mandato
Page 196 and 197: You will also allow us to visit you
Page 198 and 199: insurance program and waive any cla
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Page 202 and 203: C. Applicable Law. If the provision
Page 204 and 205: 17. YOUR COVENANTS NOT TO COMPETE A
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Page 208 and 209: provisions relating to assignment.
Page 210 and 211: L. Patriot Act. You represent and w
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1. Effective Date: ________ _ FRANC
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PERSONAL GUARANTY AND AGREEMENT TO
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STATE SPECIFIC ADDENDUM TO FRANCHIS
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IN WITNESS WHEREOF, the undersigned
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STATE SPECIFIC ADDENDUM AS REQUIRED
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ADA 12/09 AREA DEVELOPMENT AGREEMEN
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ANYTIME FITNESS® AREA DEVELOPMENT
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provided, however, that you will no
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1. Effective Date: _______ _ AREA D
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PERSONAL GUARANTY AND AGREEMENT TO
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STATE SPECIFIC ADDENDUM TO DEVELOPM
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FDD EXHIBITG STATE SPECIFIC ADDENDA
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5. The Franchise Agreement contains
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TOGETHER WITH A COPY OF ALL PROPOSE
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exercising a right of first refusal
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6. The following is added in Item 1
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Financing Consultant Agreement You,
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FDD EXHffiITI-l US BANK FINANCE DOC
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FDD AMERIFUND FINANCE DOCUMENTS
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SCBEDULE"A" COLLATERAL For the Fina
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FDD ExmBIT 1-3-2
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REQUEST FOR DRIVER'S LICENSE Please
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FDD EXHIBIT 1-3-3
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(9) Lessee shall have no remedy for
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Purchase Option Lease #: _____ _ Fo
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FDD EXHIBIT 1-4 KLC FINANCIAL, INC.
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GAIA Leasing LLC 50 South Sixth Str
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11. Location, Ownership and Use The
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(b) The failure of Lessee to perfor
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EXHIBIT A EARLY TERMINATION SCHEDUL
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FDD EXHIBIT 1-6 LIFE FITNESS FINANC
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Re: "Obligor" Personal Guaranty To
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EQUIPMENT LEASE AGREEMENT THIS AGRE
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and Lessor. At Lessor's option, all
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(b) Lessee shall fail to make any o
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this Lease inures to the benefit of
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IF LESSEE IS OTHER THAN AN INDIVIDU
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EXHIBIT A AGREEMENT OF UNCONDITIONA
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FDD EXHIBIT J PROVISION SECURITY SO
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e. ProVision Materia/s. In connecti
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Hosting Services Fee = $19.99 Monit
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9. General a. Independent Contracto
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ITEM 23. RECEIPT This Disclosure Do
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ITEM 23. RECEIPT This Disclosure Do
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