What were the total operating expenses for Fly Fitness in 2023?

According to Fly Fitness's 2024 Franchise Disclosure Document, the total operating expenses for the year ended December 31, 2023, were $166,574. The FDD provides a breakdown of these expenses, offering insight into where Fly Fitness spent its money during that period.

The most significant operating expense for Fly Fitness in 2023 was leased employees, which amounted to $74,004. Subcontractors accounted for $17,674, while advertising and promotion expenses totaled $32,778. Legal and professional fees were $14,080, and franchise costs amounted to $7,819. Other expenses included amortization ($12,500), office expenses ($3,482), website costs ($2,500), travel ($1,459), bank and credit card charges ($10), computer and internet expenses ($123), and meals and entertainment ($145).

It is important to note that Fly Fitness's operating revenue for 2023 was $0, resulting in a net loss of $166,574. This financial information is crucial for prospective franchisees to understand the company's financial performance and how it manages its expenses. Reviewing these figures can help potential franchisees assess the financial stability and potential profitability of a Fly Fitness franchise.

Understanding these expenses can help a potential franchisee better prepare for the costs associated with running the franchise. It is important to note that these are the expenses of the franchisor, not an individual franchise location. A franchisee's expenses will vary based on location, staffing, and local market conditions.