Does the Fly Fitness franchise agreement include a Multi-Unit Development Agreement?
Fly_Fitness Franchise · 2024 FDDAnswer from 2024 FDD Document
| ASSETS | 63,466.42 |
|---|---|
| Current Assets | |
| Checking/Savings | |
| Checkings | |
| Total Checking/Savings | 63,466.42 |
| Total Current Assets | 63,466.42 |
| Other Assets Accumulated Amortization License Fees | -25,000.00 125,000.00 |
| Total Other Assets | 100,000.00 |
| TOTAL ASSETS | 163,466.42 |
| LIABILITIES & EQUITY | 4,211.22 |
| Liabilities | |
| Current Liabilities | |
| Credit Cards | |
| Capital One Spark Business | |
| Total Credit Cards | 4,211.22 |
| Other Current Liabilities | 5,698.82 |
| Payroll Liabilities | |
| Total Other Current Liabilities | 5,698.82 |
| Total Current Liabilities | 9,910.04 |
| Total Liabilities | 9,910.04 |
| Equity Contributing Capital Retained Earnings Net Income | 500,000.00 -348,748.48 2,304.86 |
| Total Equity | 153,556.38 |
| TOTAL LIABILITIES & EQUITY | 163,466.42 |
ITEM 22: CONTRACTS
A copy of all proposed agreem
Source: Item 22 — CONTRACTS (FDD pages 44–45)
What This Means (2024 FDD)
Yes, according to Fly Fitness's 2024 Franchise Disclosure Document, the franchise agreement includes a Multi-Unit Development Agreement. Item 22 lists the contracts included in the disclosure document, stating that Exhibit C is the Multi-Unit Development Agreement.
Several clauses throughout the franchise agreement also refer to both 'Franchisee' and 'Developer', indicating that the agreement is structured to accommodate both single-unit franchisees and those pursuing multi-unit development. These references appear in acknowledgements, obligations, and rights within the agreement.
For a prospective franchisee, this means there is an option to develop multiple Fly Fitness locations under a separate agreement, which is included in the FDD. The franchisee should carefully review Exhibit C to understand the specific terms and conditions of the Multi-Unit Development Agreement, including development schedules, fees, and territory rights, before deciding whether to pursue this option.