What is the method of payment for Furniture, Fixtures and Equipment for a Fly Fitness franchise?
Fly_Fitness Franchise · 2024 FDDAnswer from 2024 FDD Document
AL INVESTMENT**
Single Unit:
| Type of Expenditure | Low | High | Method of Payment | When Due | To Whom Payment is Made |
|---|---|---|---|---|---|
| Initial Franchise Fee1 | $50,000 | $50,000 | Lump sum payment in cash or available funds. |
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 Furniture, Fixtures, and Equipment is "as required by supplier" and is due before opening. The estimated cost for these items ranges from $3,210 to $6,420. These costs are paid to the suppliers.
Furniture and fixtures include items such as entry-area furniture, security cameras, retail racks, storage room equipment, appliances, speakers, scales, body fat measurement equipment, cleaning equipment, and file storage equipment. This does not include the required fitness equipment.
Prospective Fly Fitness franchisees should carefully consider these costs and payment terms when planning their initial investment. It is important to establish relationships with reliable suppliers and to ensure that payment schedules are clearly defined to avoid any delays in the opening of the franchise.