What conditions must be satisfied or waived before a Fly Fitness developer executes an additional Franchise Agreement?
Fly_Fitness Franchise · 2024 FDDAnswer from 2024 FDD Document
er hereby acknowledges and agrees that the training Developer receives pursuant
- to the initial Franchise Agreement executed concurrently with this Agreement is sufficient to allow Developer to construct, equip, open and operate each of Developer's Franchised Businesses in the Development Area.
- 5.2 Mandatory Development Schedule. Subsequent to Developer's signing of this Agreement and the initial Franchise Agreement, and provided that all conditions in Section 5.4 hereof are satisfied or waived, upon the execution of a lease for Developer's first Franchised Business, Developer shall execute an additional Franchise Agreement for the development of the second Franchised Business to be opened under the Mandatory Development Schedule. Provided that all conditions in Section 5.4 hereof are satisfied or waived, upon the execution of a lease for each subsequent Franchised Business to be developed by Developer, Developer shall execute an additional Franchise Agreement for the development of the next Franchised Business to be opened under the Mandatory Development Schedule.
Source: Item 23 — RECEIPT (FDD pages 45–182)
What This Means (2024 FDD)
According to Fly Fitness's 2024 Franchise Disclosure Document, before a developer can be granted the right to develop an additional Fly Fitness franchise and execute a Franchise Agreement, certain conditions must be met or waived by Fly Fitness, at its sole discretion.
Specifically, the developer must request Fly Fitness's current Franchise Disclosure Document. Additionally, upon the execution of a lease for each subsequent Franchised Business to be developed by the Developer, the Developer must execute an additional Franchise Agreement for the development of the next Franchised Business to be opened under the Mandatory Development Schedule.
Meeting these conditions ensures that both Fly Fitness and the developer are aligned and prepared for the expansion of the Fly Fitness brand. The franchisor's ability to waive these conditions provides flexibility, but prospective developers should understand the importance of fulfilling these requirements to maintain a good standing with Fly Fitness and proceed smoothly with their development plans.