How many franchised Fly Fitness outlets were operating at the start of 2021?
Fly_Fitness Franchise · 2024 FDDAnswer from 2024 FDD Document
| Outlet Type | Year | Outlets at the Start of the Year | Outlets at the End of the Year | Net Change |
|---|---|---|---|---|
| Franchised | 2021 | 0 | 0 | 0 |
| 2022 | 0 | 0 | 0 | |
| 2023 | 0 | 0 | 0 | |
| Company – | 2021 | 4 | 4 | 0 |
| Owned* | ||||
| 2022 | 4 | 4 | 0 | |
| 2023 | 4 | 4 | 0 | |
| Total | 2021 | 4 | 4 | 0 |
| Outlets | ||||
| 2022 | 4 | 4 | 0 | |
| 2023 | 4 | 4 | 0 |
Source: Item 20 — OUTLETS AND FRANCHISEE INFORMATION (FDD pages 42–44)
What This Means (2024 FDD)
According to Fly Fitness's 2024 Franchise Disclosure Document, there were no franchised outlets operating at the start of 2021. The provided table summarizes the system-wide outlet information for the years 2021 to 2023. It distinctly breaks down the number of franchised and company-owned outlets at the start and end of each year, along with the net change.
Specifically, for the year 2021, the table indicates that Fly Fitness had zero franchised outlets at the beginning of the year and zero at the end of the year, resulting in a net change of zero. This suggests that Fly Fitness may have been focusing on company-owned stores during that period or had not yet begun franchising its business model.
For a prospective franchisee, this information highlights that Fly Fitness is a relatively new franchise system, or at least was not actively franchising as of 2021. It would be prudent to investigate further into the company's franchising history, understand their growth strategy, and assess the support and resources available to new franchisees joining the system.