Does the Fly Fitness franchise agreement define the term 'transfer' as it relates to the franchise?

Based on the 2024 Fly Fitness Franchise Disclosure Document, Item 17 addresses the topic of transfer within the franchise agreement. However, the provided excerpts consist of introductory sentences and table headings regarding the franchise relationship and multi-unit development agreement, stating that the specific provisions are detailed in the agreements attached to the disclosure document. There is no explicit definition of the term 'transfer' within the provided excerpts.

Because the definition of 'transfer' is not included in the provided FDD excerpts, it is important for a prospective Fly Fitness franchisee to carefully review the full franchise agreement and any related addenda. Understanding what constitutes a 'transfer' is crucial, as it dictates the circumstances under which the franchisee can sell, assign, or otherwise convey their rights and obligations under the franchise agreement.

To gain clarity, a potential Fly Fitness franchisee should ask the franchisor for a precise definition of 'transfer,' including examples of situations that would be considered a transfer. They should also inquire about any restrictions, conditions, or procedures that apply to transfers, such as obtaining the franchisor's approval, paying a transfer fee, or ensuring that the transferee meets certain qualifications. Understanding these details is essential for making an informed decision about investing in a Fly Fitness franchise.