What is the method of payment for the Computer System for a Fly Fitness franchise?
Fly_Fitness Franchise · 2024 FDDAnswer from 2024 FDD Document
| Leasehold Improvements, Construction and/or Remodeling6 | $160,500 | $267,500 | As required by supplier, contractor, or landlord | Before opening, as required by supplier. | Suppliers, contractor and/or Landlord |
|---|---|---|---|---|---|
| Furniture, Fixtures and Equipment7 | $3,210 | $6,420 | As required by supplier | Before opening | Suppliers |
| Signage8 | $4,280 | $7,490 | As incurred | Before opening | Suppliers |
| Business Licenses and Permits9 | $214 | $535 | As required by government agencies | Before opening, as required by government agencies | Government Agencies |
| Computer | $1,605 | $2,140 | As required by | Before opening | Suppliers |
| Systems10 | suppliers |
Source: Item 7 — ESTIMATED INITIAL INVESTMENT (FDD pages 14–18)
What This Means (2024 FDD)
According to Fly Fitness's 2024 Franchise Disclosure Document, the method of payment for the computer system, which ranges from $1,605 to $2,140, is "as required by suppliers." This payment is due before opening the Fly Fitness franchise and is made to the suppliers.
This means that prospective Fly Fitness franchisees should negotiate payment terms with the computer system suppliers. The FDD does not specify whether payment is typically required upfront, or if payment plans are available. Franchisees will need to budget for this expense prior to opening.
It is important for potential Fly Fitness franchisees to clarify payment schedules and options with the suppliers to manage their initial investment effectively. Understanding these payment terms is crucial for financial planning and ensuring a smooth launch of the franchise.