What was the total amount spent on salaries and wages by Fly Fitness in 2022?

According to Fly Fitness's 2024 Franchise Disclosure Document, the company's total expenditure on salaries and wages for the year ending December 31, 2022, was $73,248. This figure is part of the broader operating expenses, which totaled $155,540 for the same period. The company experienced a net loss of $155,540 in 2022. At the beginning of the year, the member's equity was $468,165, which decreased to $312,625 by the end of the year.

For a prospective franchisee, understanding these figures provides insight into the financial management and operational costs of Fly Fitness. Salaries and wages represent a significant portion of the operating expenses. The fact that operating expenses exceeded operating revenue, resulting in a net loss, may warrant further investigation into the company's financial strategies and future projections.

It is important to note that these financial statements have been prepared without an audit. While the financial statements have been audited, prospective franchisees should be aware that no independent certified public accountant has audited these figures or expressed an opinion regarding their content or form. This highlights the importance of carefully reviewing the financial statements and potentially seeking professional financial advice before making any investment decisions.