When are payments for furniture, fixtures and equipment due 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 |
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 furniture, fixtures, and equipment are due before opening the franchise. The specific timing is dictated by the supplier.
The FDD states that the estimated initial investment for furniture, fixtures, and equipment ranges from $3,210 to $6,420. These items include entry-area furniture, security cameras, retail racks, storage equipment, appliances, speakers, scales, body fat measurement equipment, cleaning equipment, and file storage equipment. This investment is paid to suppliers.
Prospective Fly Fitness franchisees should carefully consider these costs and payment terms when planning their initial investment. It is important to confirm payment schedules with suppliers to ensure timely procurement and installation of necessary items before the franchise opens. Understanding these payment obligations is crucial for managing cash flow during the initial phase of establishing a Fly Fitness franchise.