What was the total number of Fly Fitness outlets at the start of 2023?
Fly_Fitness Franchise · 2024 FDDAnswer from 2024 FDD Document
| Outlet Type | Year | Outlets at the Start of the Year | Outlets at the End of the Year | Net Change |
|---|---|---|---|---|
| Franchised | 2021 | 0 | 0 | 0 |
| 2022 | 0 | 0 | 0 | |
| 2023 | 0 | 0 | 0 | |
| Company – | 2021 | 4 | 4 | 0 |
| Owned* | ||||
| 2022 | 4 | 4 | 0 | |
| 2023 | 4 | 4 | 0 | |
| Total | 2021 | 4 | 4 | 0 |
| Outlets | ||||
| 2022 | 4 | 4 | 0 | |
| 2023 | 4 | 4 | 0 |
Source: Item 20 — OUTLETS AND FRANCHISEE INFORMATION (FDD pages 42–44)
What This Means (2024 FDD)
According to Fly Fitness's 2024 Franchise Disclosure Document, at the start of 2023, there were a total of 4 Fly Fitness outlets. None of these were franchised, and all 4 were company-owned. This indicates that Fly Fitness was primarily operating through company-owned locations during this period.
For a prospective franchisee, this information is crucial for understanding the current business model of Fly Fitness. The fact that there were no franchised outlets at the beginning of 2023 suggests that the franchise system may be relatively new or that the company has historically preferred to operate its own locations. This could mean that the franchisor has more direct control over operations and quality, but it also means that the franchisee might not have a large network of existing franchisees to learn from.
It's important for potential franchisees to investigate why Fly Fitness has primarily focused on company-owned stores. Understanding the franchisor's strategy and their plans for franchise expansion is essential. A prospective franchisee should inquire about the support and training provided, as well as the franchisor's long-term vision for the franchise system. Additionally, it would be beneficial to understand the performance metrics of the existing company-owned stores to gauge the potential profitability of a franchise location.