What is the estimated range of expenses for training when opening 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 |
|---|---|---|---|---|---|
| Initial Franchise Fee1 | $50,000 | $50,000 | Lump sum payment in cash or available funds. | Upon signing the Franchise Agreement. | Us |
| Your Training Expenses2 | $2,889 | $6,420 | As required for trans- portation, lodging & meals | As required by suppliers of transportation, lodging & meals. | Suppliers of transportation, lodging & meals. |
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 training expenses ranges from $2,889 to $6,420. This figure covers transportation, lodging, and meals for up to three people attending the Initial Management Training Program. The cost of the Initial Management Training Program itself is included in the Initial Franchise Fee.
These incidental costs for transportation, lodging, and meals are not included in the Initial Franchise Fee. The actual expenses will vary depending on factors such as the number of people attending the training, their origin, travel method, accommodation class, and living expenses. The training program lasts for five days, and the estimate does not include employee wages.
Prospective Fly Fitness franchisees should consider these training expenses when budgeting for their initial investment. It's important to note that these costs are estimates and can fluctuate based on individual choices and circumstances. Franchisees should plan their training logistics carefully to manage these expenses effectively.