When does the term of the Fly Fitness Development Agreement expire?
Fly_Fitness Franchise · 2024 FDDAnswer from 2024 FDD Document
Franchisor; or (iv) do or perform, directly or indirectly, any other act injurious or prejudicial to the goodwill associated with the Marks and the System or (v) in any manner interfere with, disturb, disrupt, decrease or otherwise jeopardize the
- business of the Franchisor or any Fly Fitness franchisees or Franchisor-affiliated outlets.
- 8.3.2 Upon the expiration or earlier termination of this Agreement or upon a Transfer and continuing for twenty-four (24) months thereafter, Developer shall not, either directly or indirectly, for himself or herself or through, on behalf of or in conjunction with any person or entity (i) divert, or attempt to divert, any business or customer of the Franchised Businesses to be developed hereunder or of other franchisees in the System to any competitor, by direct or indirect inducement or otherwise; or (ii) participate as an owner, partner, director, officer, employee, consultant or agent or serve in any other capacity in any Competitive Business within ten (10) miles of the Territory or any Fly Fitness; or (iii) seek to employ any person who is at that time employed by Franchisor, or otherwise induce such person to leave his or her employment or (iv) do or perform, directly or indirectly, any other act injurious or prejudicial to the goodwill associated with the Marks and the System or (v) in any manner interfere with, disturb, disrupt, decrease or otherwise jeopardize the business of the Franchisor or any Fly Fitnessfranchisees.
- 8.4 Reasonableness of Restrictions. Developer acknowledges and agrees that the covenants not to compete set forth in this Agreement are fair and reasonable and will not impose any undue hardship on Developer since Developer has other considerable skills, experience and education which afford Developer the opportunity to derive income from other endeavors.
- 8.5 Reduction of Time or Scope.
Source: Item 23 — RECEIPT (FDD pages 45–182)
What This Means (2024 FDD)
Based on the 2024 Fly Fitness Franchise Disclosure Document, the excerpts provided do not state the specific length or expiration date of the Development Agreement. The document does reference conditions for termination related to default, insolvency, or failure to transfer the agreement in the event of death or disability. It also discusses non-competition covenants that apply upon expiration or termination of the agreement, lasting for twenty-four months. However, the original term length is not specified in the provided excerpts.
While the excerpts outline circumstances under which the Development Agreement can be terminated, such as insolvency or failure to meet transfer requirements upon death or disability, they do not provide the initial term length. This means a prospective franchisee cannot determine from this information how long the Development Agreement will last under normal circumstances.
To fully understand the duration of the Development Agreement, a potential Fly Fitness franchisee should ask the franchisor directly about the standard term length. They should also inquire about any conditions that could affect the term length, such as renewal options or performance-based extensions. This information is crucial for making an informed decision about investing in a Fly Fitness franchise.