What is the estimated range for three months' rent 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 |
|---|---|---|---|---|---|
| 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. |
| Premises lease and utility deposits3 | $3,745 | $6,420 | As required by landlord | As required by landlord | Landlord |
| Three Month’s Rent4 | $11,235 | $25,680 | As required by utility providers | As required by utility providers | Utility providers |
| Architectural Plans5 | $10,700 | $21,400 | As required by supplier | Before opening as required by supplier | Supplier |
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 three months' rent ranges from $11,235 to $25,680. This estimate is part of the initial investment a new franchisee must make to start their Fly Fitness business. The document specifies that these payments are made as required by utility providers.
This range is an estimate and can vary significantly based on the location of the Fly Fitness franchise. Real estate costs are highly variable, and in certain markets, rents could be substantially higher. It is important for prospective franchisees to research local rental rates to get a more accurate understanding of potential costs in their desired area.
Prospective franchisees should also factor in additional costs related to renting a space, such as real estate broker fees, prepayments like first and last month's rent, common area maintenance fees, real estate taxes, and insurance costs. These additional expenses can impact the overall initial investment required to launch a Fly Fitness franchise.