Which sections of the Fly Fitness franchise agreement detail the franchisee's fee obligations?
Fly_Fitness Franchise · 2024 FDDAnswer from 2024 FDD Document
| Obligation | Section or Article in Franchise Agreement | Section or Article in Multi-Unit Development Agreement | Item in Franchise Disclosure Document |
|---|---|---|---|
| f. Fees | 5.1, 5.2.7, Article 6, 12.3.7, 12.6, 15.6, 16.4, 18.1.4, 18.1.5, 18.1.8, 19.1.5 | Article 4 | 5, 6, 7 |
Source: Item 9 — FRANCHISEE'S OBLIGATIONS (FDD pages 20–22)
What This Means (2024 FDD)
According to Fly Fitness's 2024 Franchise Disclosure Document, Item 9 outlines the franchisee's obligations, including where to find more detailed information within the franchise and other agreements. Specifically, it directs prospective franchisees to various sections and articles within the Franchise Agreement related to fees.
For fee obligations, the relevant sections in the Franchise Agreement are 5.1, 5.2.7, Article 6, 12.3.7, 12.6, 15.6, 16.4, 18.1.4, 18.1.5, 18.1.8, and 19.1.5. For the Multi-Unit Development Agreement, Article 4 pertains to fees. Furthermore, Items 5, 6, and 7 of the Franchise Disclosure Document also provide information regarding fees.
This information is crucial for potential Fly Fitness franchisees as it provides a roadmap to understand all fee-related obligations. By referencing these specific sections, franchisees can gain clarity on initial franchise fees, ongoing royalties, advertising fees, and other potential costs associated with operating a Fly Fitness franchise. Careful review of these sections is essential during due diligence.