How many fiscal years has Fitstop been franchising?
Fitstop Franchise · 2024 FDDAnswer from 2024 FDD Document
Fitstop USA, Inc. is the franchisor. To simplify matters, this document will refer to the franchisor as "we," "us," or "our." "Franchisee", "you" or "your" means the company which buys the franchise, including company's owners, partners, controlling shareholders, officers, guarantors, and managers, if any. If the owners, partners, controlling shareholders, officers, or guarantors are married and your spouse is not an owner, partner, controlling shareholder, officer, or guarantor of the franchise business, certain provisions of our Franchise Agreement will also apply to your spouse.
We incorporated in Delaware on July 22, 2022. Our principal business address is 2260 S. Centinela Ave., Suite 150, Los Angeles, CA 90064. We conduct business under our corporate name and under the primary mark FITSTOP®, as well as any and all other marks, logos, designs and names that we designate for licensing as part of our franchise system from time to time (collectively, the "Proprietary Marks").
We have identified our agents for service of process in various states in Exhibit E.
We are in the business of franchising functional fitness group training facilities that operate under the Proprietary Marks (each, a "Franchised Business"), as well as related activities related to the ownership and administration of the franchise system and franchisee network.
Source: Item 21 — FINANCIAL STATEMENTS (FDD page 49)
What This Means (2024 FDD)
According to Fitstop's 2024 Franchise Disclosure Document, Fitstop USA, Inc. was incorporated in Delaware on July 22, 2022. The FDD states that Fitstop USA, Inc. is in the business of franchising functional fitness group training facilities.
While Fitstop USA, Inc. was formed in 2022, its affiliate, Fitstop Australia Pty Ltd, has been offering franchises since January 2017. As of December 31, 2023, there were 125 franchises open and operating under agreements with the Affiliate Franchisor. However, the Affiliate Franchisor has not offered franchises within the United States.
Therefore, based on the information provided, Fitstop USA, Inc. has been franchising for approximately 1 full fiscal year, since its incorporation in July 2022 and the FDD's effective date of 2024. However, Fitstop's parent company has been franchising in Australia since 2017.