factual

What does the Fly Fitness Franchise Agreement contain regarding oral and written agreements?

Fly_Fitness Franchise · 2024 FDD

Answer from 2024 FDD Document

city of Franchisee. Thus, no transfer, as hereafter defined, may be made without Franchisor's prior written approval. Franchisor may void any transfer made without such approval.

  • 16.3. Transfers by Franchisee. Franchisee shall not directly or indirectly sell, assign, transfer, give, devise, convey or encumber this Agreement or any right or interest herein or hereunder (a "Transfer"), the Franchise, the Franchised Business, or any assets thereof (except in the ordinary course of business) or suffer or permit any such assignment, transfer, o

Source: Item 22 — CONTRACTS (FDD pages 44–45)

What This Means (2024 FDD)

Based on the 2024 Fly Fitness Franchise Disclosure Document, the franchise agreement emphasizes the importance of written consent and agreements. Specifically, the document states that Franchisee shall not directly or indirectly sell, assign, transfer, give, devise, convey or encumber this Agreement or any right or interest herein or hereunder (a "Transfer"), the Franchise, the Franchised Business, or any assets thereof (except in the ordinary course of business) or suffer or permit any such assignment, transfer, or encumbrance to occur by operation of law unless it first obtains the written consent of Franchisor."

This stipulation means that a Fly Fitness franchisee cannot transfer any part of their franchise agreement, business, or assets without first getting written approval from Fly Fitness. This protects Fly Fitness by ensuring they have control over who becomes a franchisee and maintains standards within the franchise system. Any transfer made without this written consent can be voided by Fly Fitness.

This requirement for written consent is a common practice in franchising, allowing franchisors to maintain quality control and protect their brand. Prospective Fly Fitness franchisees should understand that they cannot sell or transfer their franchise without explicit written permission from Fly Fitness, and failure to comply can result in the transfer being voided.

Disclaimer: This information is extracted from the 2024 Franchise Disclosure Document and is provided for research purposes only. It does not constitute legal or financial advice. Consult with a franchise attorney before making any investment decisions.