What was the net income (loss) for Fly Fitness in 2023?

According to Fly Fitness's 2024 Franchise Disclosure Document, the company experienced a net loss of $166,574 for the year ended December 31, 2023. This loss occurred despite the company incurring $166,574 in total operating expenses, which included costs such as advertising and promotion ($32,778), amortization ($12,500), franchise costs ($7,819), and leased employees ($74,004). Fly Fitness did not generate any operating revenue during this period.

This significant net loss in 2023 could be a concern for potential franchisees. It is important to note that as of December 31, 2023, Fly Fitness had issued only one franchise in Loveland, Colorado, which was not yet open. The lack of operating revenue, coupled with substantial operating expenses, contributed to the reported loss.

Prospective franchisees should carefully review Fly Fitness's financial statements and understand the factors contributing to the company's financial performance. It would be prudent to inquire about the company's plans to generate revenue, manage expenses, and achieve profitability in the future. Understanding the strategies Fly Fitness has in place to support franchisees in achieving financial success is crucial before investing in a franchise.