When did the second Fly Fitness affiliate-owned outlet open?
Fly_Fitness Franchise · 2024 FDDAnswer from 2024 FDD Document
This Item contains a historic financial performance representation showing the combined Net Income, Expenses, Gross Profit, EBITDA, and EBITDAR for our two affiliate owned Fly Fitness outlets located in Lincoln, Nebraska. The first outlet opened in November of 2015 and the second in November of 2019. Our affiliates are a similar size as expected franchisee outlets and represents the sale of products and services that will be available for franchisees to sell.
Source: Item 19 — FINANCIAL PERFORMANCE REPRESENTATIONS (FDD pages 41–42)
What This Means (2024 FDD)
According to Fly Fitness's 2024 Franchise Disclosure Document, the second affiliate-owned Fly Fitness outlet opened in November 2019. This information is part of a financial performance representation that includes data from two affiliate-owned outlets in Lincoln, Nebraska. The FDD specifies that the first outlet opened in November 2015.
Fly Fitness uses the performance of these affiliate-owned outlets to give prospective franchisees an idea of potential financial performance. The document emphasizes that these affiliates are similar in size to expected franchisee outlets and offer comparable products and services. This suggests that the financial data from these locations could be a relevant benchmark for franchisees.
However, the FDD also cautions that a franchisee's individual results may differ, and there is no guarantee of earning as much as the affiliate outlets. Franchisees should carefully consider this disclaimer and request written substantiation for the financial performance representation to better understand the factors influencing the affiliate outlets' success. Understanding the specific market conditions and operational strategies of these existing locations can help a franchisee assess the potential and risks associated with opening their own Fly Fitness studio.