What is the estimated low and high cost for business licenses and permits for a Fly Fitness franchise?
Fly_Fitness Franchise · 2024 FDDAnswer from 2024 FDD Document
| Type of Expenditure | Low | High | Method of Payment | When Due | To Whom Payment is Made |
|---|---|---|---|---|---|
| Business Licenses and Permits9 | $214 | $535 | As required by government agencies | Before opening, as required by government agencies | Government Agencies |
This estimate also includes the cost of a local business license.
The costs of permits and licenses will vary by location.
Please contact your local governing agency for this information.
- 9 This is an estimate of the costs of building permits, sign permits and a certificate of occupancy for your premises.
Not all locations will require all of these permits, depending on the prior use of the premises and the requirements of local ordinances.
Source: Item 7 — ESTIMATED INITIAL INVESTMENT (FDD pages 14–18)
What This Means (2024 FDD)
According to Fly Fitness's 2024 Franchise Disclosure Document, the estimated cost for business licenses and permits ranges from $214 to $535. These fees are paid to government agencies before opening the franchise, as required by those agencies. This estimate includes costs for building permits, sign permits, a certificate of occupancy, and a local business license.
The FDD notes that not all locations will require all of these permits, depending on the prior use of the premises and the requirements of local ordinances. The costs of permits and licenses will vary by location, so Fly Fitness advises prospective franchisees to contact their local governing agency for specific information.
This means a prospective Fly Fitness franchisee needs to budget between $214 and $535 for these licenses and permits. However, it is critical to independently verify the actual costs with the relevant local government agencies, as the FDD provides only an estimate. Failing to obtain the necessary licenses and permits can delay the opening of the franchise or result in fines and legal issues.