To whom are payments for architectural plans made for a Fly Fitness franchise?
Fly_Fitness Franchise · 2024 FDDAnswer from 2024 FDD Document
| 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. | Upon signing the Franchise Agreement. | Us |
| Your Training Expenses2 | $2,889 | $6,420 | As required for trans- portation, lodging & meals | As required by suppliers of transportation, lodging & meals. | Suppliers of transportation, lodging & meals. |
| Premises lease and utility deposits3 | $3,745 | $6,420 | As required by landlord | As required by landlord | Landlord |
| Three Month’s Rent4 | $11,235 | $25,680 | As required by utility providers | As required by utility providers | Utility providers |
| Architectural Plans5 | $10,700 | $21,400 | As required by supplier | Before opening as required by supplier | Supplier |
Source: Item 7 — ESTIMATED INITIAL INVESTMENT (FDD pages 14–18)
What This Means (2024 FDD)
According to Fly Fitness's 2024 Franchise Disclosure Document, payments for architectural plans are made to the supplier. The cost for these plans ranges from $10,700 to $21,400. These payments are due before opening, as required by the supplier.
Depending on the condition of the site or the requirements of the landlord or municipality, a Fly Fitness franchisee may need the services of an architect, designer, or engineer. The FDD estimates costs for improvements to a location obtained in the "vanilla box" stage, which includes existing heating/cooling systems, electrical outlets, a finished ceiling, prepped walls, and a concrete floor.
Prospective franchisees should confirm with Fly Fitness approved suppliers to understand the specific services covered by the architectural plans and the payment schedules. Understanding these costs and payment terms is essential for budgeting and managing the initial investment for a Fly Fitness franchise.