factual

What consent is required from the lessor of the premises for a Fly Fitness franchised business transfer?

Fly_Fitness Franchise · 2024 FDD

Answer from 2024 FDD Document

  • 5.2.4 Franchisee shall have obtained the right to continue to occupy the premises of the Franchised Business following the expiration of the Term hereof for the full term of the Successor Franchise Agreement and/or have received Franchisor's approval regarding locating the Franchised Business at a new location.

Source: Item 22 — CONTRACTS (FDD pages 44–45)

What This Means (2024 FDD)

Based on the 2024 Fly Fitness Franchise Disclosure Document, a franchisee needs to obtain the right to continue occupying the premises of the franchised business for the full term of the Successor Franchise Agreement, or receive Fly Fitness's approval to move the franchised business to a new location. This indicates that the franchisee must ensure they have secured the necessary rights to remain at the current location or have an approved alternative location before the franchise agreement can be renewed.

This requirement is in place to ensure business continuity and maintain the standards of the Fly Fitness brand. If a franchisee cannot secure the premises, they risk losing their business location, which could disrupt operations and negatively impact the brand's reputation. Securing the location is a condition for renewing the franchise agreement.

Prospective Fly Fitness franchisees should proactively communicate with their landlord to ensure the lease can be extended or transferred under terms acceptable to both the franchisee and Fly Fitness. If the current location is not viable, franchisees should seek approval from Fly Fitness for a new location well in advance of the renewal date to avoid any last-minute complications.

Disclaimer: This information is extracted from the 2024 Franchise Disclosure Document and is provided for research purposes only. It does not constitute legal or financial advice. Consult with a franchise attorney before making any investment decisions.