To whom are payments for furniture, fixtures, and equipment made 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, payments for furniture, fixtures, and equipment are made to the suppliers. The estimated cost for these items ranges from $3,210 to $6,420. These payments are due before opening the Fly Fitness franchise location.
The furniture and fixtures encompass essential items for the franchise's operation. These include entry-area furniture, security cameras, retail racks for supplement sales, storage room equipment, appliances, speakers, a scale, body fat measurement equipment, cleaning equipment, and file storage equipment. It is important to note that this estimate does not include the required fitness equipment, which is a separate expense.
Prospective Fly Fitness franchisees should carefully consider these costs and ensure they have sufficient capital to cover these expenses before opening. Understanding to whom payments are directed is crucial for budgeting and managing the initial investment effectively. Franchisees should also confirm with Fly Fitness any specific supplier requirements or approved vendors to ensure compliance with brand standards.