What is the estimated low and high cost for furniture, fixtures, and equipment for a Fly Fitness franchise?
Fly_Fitness Franchise · 2024 FDDAnswer from 2024 FDD Document
AL INVESTMENT**
Single Unit:
| Type of Expenditure | Low | High | Method of Payment | When Due | To Whom Payment is Made |
|---|---|---|---|---|---|
| Initial Franchise Fee1 | $50,000 | $50,000 | Lump sum payment in cash or available funds. |
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 initial investment for furniture, fixtures, and equipment ranges from $3,210 to $6,420. This estimate covers essential items needed to furnish the entry area, ensure security, facilitate retail sales, and maintain the facility. These items include entry-area furniture, security cameras, a retail rack for supplement sales, storage room equipment, appliances, speakers, a scale, body fat measurement equipment, cleaning equipment, and file storage equipment.
Prospective Fly Fitness franchisees should consider this cost as a necessary upfront expense for setting up their studio. It is important to note that this estimate does not include the cost of required fitness equipment, such as bikes, treadmills, and weights, which are listed separately in the FDD. Franchisees should carefully assess their needs and budget to ensure they can adequately equip their Fly Fitness studio.
The FDD specifies that payment for furniture, fixtures, and equipment is required before opening the Fly Fitness location and is paid to the suppliers. This cost is based on Fly Fitness's affiliate experience. It is crucial for potential franchisees to obtain detailed quotes from suppliers to accurately estimate these expenses and to ensure that all necessary items are accounted for in their budget.
Understanding the specific inclusions and exclusions within this category is essential for effective financial planning. Fly Fitness franchisees should also confirm with the franchisor whether there are any approved vendor lists or specific requirements for the types or brands of furniture, fixtures, and equipment to be purchased, as this could impact the overall cost.