What was the net change in the number of company-owned Fly Fitness outlets during 2022?
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, the net change in the number of company-owned outlets during 2022 was 0. The FDD provides a system-wide outlet summary for the years 2021 to 2023. In 2022, Fly Fitness started the year with 4 company-owned outlets and ended the year with 4 company-owned outlets.
This indicates that Fly Fitness did not open or close any company-owned locations during that year. For a prospective franchisee, this could suggest a period of stability in the company's corporate store operations. It is important to note that company-owned stores are operated by affiliated entities.
While no changes occurred in 2022, it is important for potential franchisees to further investigate Fly Fitness's strategy regarding company-owned versus franchised locations. Understanding the growth plans for both types of outlets can provide valuable insight into the overall direction of the franchise system.