When are payments for grand opening advertising due for a Fly Fitness franchise?
Fly_Fitness Franchise · 2024 FDDAnswer from 2024 FDD Document
| Grand Opening | $15,000 | $21,400 | As required by | As required by | Suppliers | | Advertising 15 | | | supplier | supplier | |
- 15 You spend at least $15,000 on local advertising and marketing six (6) weeks prior to and for two (2) months following the opening of your Franchised Business.
Source: Item 7 — ESTIMATED INITIAL INVESTMENT (FDD pages 14–18)
What This Means (2024 FDD)
According to Fly Fitness's 2024 Franchise Disclosure Document, the grand opening advertising fee, which ranges from $15,000 to $21,400, is due as required by the supplier. This payment is made to the suppliers. Fly Fitness requires franchisees to spend this amount on local advertising and marketing for six weeks prior to and two months following the opening of their franchise.
This means a prospective Fly Fitness franchisee needs to budget for these advertising expenses and understand the payment schedule set by the advertising vendors. It is important to clarify with Fly Fitness which suppliers are typically used and what their payment terms are to ensure sufficient funds are available when payments are due.
Understanding these costs and payment terms is crucial for managing the initial investment and cash flow of the Fly Fitness franchise. Franchisees should factor in these advertising expenses when projecting their startup costs and operational budget.