What was the amount spent on leased employees by Fly Fitness in 2023?

According to Fly Fitness's 2024 Franchise Disclosure Document, the company spent $5,699 on accrued leased employee costs in 2023. This figure is part of the current liabilities reported on the balance sheet as of December 31, 2023. This indicates that Fly Fitness utilizes leased employees and had an outstanding financial obligation for their services at the end of the fiscal year.

For a prospective franchisee, understanding these costs is crucial. Leased employees can provide flexibility in staffing, but they also come with associated expenses. The accrued leased employee cost represents the amount owed for services already rendered but not yet paid. This liability impacts the overall financial health of Fly Fitness and could influence the financial stability of individual franchise locations as well.

It's important to note that this figure only reflects the accrued cost as of the end of 2023. The total expenditure on leased employees throughout the year could be significantly higher. A potential franchisee should investigate further to understand the full scope of leased employee utilization and its associated costs, as this will affect their operating expenses and profitability.