To whom are payments for the security system 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 ava |
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 the security system are made to the suppliers. The estimated cost for the security system ranges from $0 to $2,140. These payments are due before opening the Fly Fitness franchise location. It is important to note that the franchisee is responsible for purchasing the security system.
The security system is part of the broader category of furniture, fixtures, and equipment needed to start the Fly Fitness franchise. The total estimated cost for furniture, fixtures, and equipment ranges from $3,210 to $6,420. These costs are also paid to suppliers before opening.
Prospective Fly Fitness franchisees should confirm the specific requirements for the security system with Fly Fitness and obtain quotes from multiple suppliers to ensure they receive competitive pricing. Understanding the full scope of required equipment and build-out costs is crucial for accurate financial planning.