When was Fly Holdings, LLC, the parent company of Fly Fitness, formed?
Fly_Fitness Franchise · 2024 FDDAnswer from 2024 FDD Document
We have a parent company, Fly Holdings, LLC, a Nebraska limited liability company with a principal place of business at 201 N 13th Street, Lincoln, Nebraska 68502. Fly Holdings, LLC, was formed on March 6, 2019, and is our owner. Fly Holdings, LLC has not offered franchises in this or in any other lines of business previously.
Source: Item 1 — THE FRANCHISOR, AND ANY PARENTS, PREDECESSORS AND AFFILIATES (FDD pages 6–7)
What This Means (2024 FDD)
According to Fly Fitness's 2024 Franchise Disclosure Document, the parent company, Fly Holdings, LLC, was formed on March 6, 2019. Fly Holdings, LLC is a Nebraska limited liability company with its principal place of business at 201 N 13th Street, Lincoln, Nebraska 68502. Fly Holdings, LLC is the owner of Fly Fitness and has not offered franchises in any line of business previously.
Understanding the formation date of the parent company can give a prospective franchisee insight into the overall organizational structure and history of Fly Fitness. Knowing that Fly Holdings, LLC has not offered franchises before may indicate that Fly Fitness is their first venture into franchising.
It is common for franchise systems to be owned by a parent company, which may have other business ventures or subsidiaries. Franchisees should research the parent company to understand its financial stability and experience in business, even if it's not directly in franchising. This information can help assess the long-term viability and support system behind the Fly Fitness franchise.