Does the Fly Fitness Franchise Disclosure Document contain a table summarizing the conditions for transfer under the multi-unit development agreement?
Fly_Fitness Franchise · 2024 FDDAnswer from 2024 FDD Document
[Item 17: RENEWAL, TERMINATION, TRANSFER AND DISPUTE RESOLUTION]
THE FRANCHISE RELATIONSHIP (UNDER THE MULTI-UNIT DEVELOPMENT AGREEMENT)
This table lists certain important provisions of the multi-unit development agreement. You should read these provisions in the agreement attached to this disclosure document.
Source: Item 17 — RENEWAL, TERMINATION, TRANSFER AND DISPUTE RESOLUTION (FDD pages 33–40)
What This Means (2024 FDD)
According to Fly Fitness's 2024 Franchise Disclosure Document, Item 17 includes a table that lists important provisions of the multi-unit development agreement related to the franchise relationship. The FDD states that prospective franchisees should read these provisions in the agreement attached to the disclosure document.
While the FDD mentions a table summarizing provisions of the multi-unit development agreement, the excerpt does not specify whether this table includes specific conditions for transfer under the multi-unit development agreement. The document generally advises franchisees to carefully review the full agreement.
To fully understand the conditions for transfer under the multi-unit development agreement, a prospective Fly Fitness franchisee should carefully examine the table within Item 17 of the FDD and consult the actual multi-unit development agreement attached to the FDD. If the table does not provide sufficient detail, they should ask Fly Fitness for clarification on the specific conditions and requirements for transferring rights and obligations under the agreement.