Under what condition can Fly Fitness place the purchase price in escrow?

According to Fly Fitness's 2024 Franchise Disclosure Document, Fly Fitness may place the purchase price in escrow if the franchisee has not obtained all required certificates and other documents at the time of closing. This action is at Fly Fitness's sole discretion and serves as a temporary measure until the franchisee provides the necessary documentation.

For a prospective Fly Fitness franchisee, this means that ensuring all required documents and certificates are secured before the closing is crucial. Failure to do so could result in the purchase price being held in escrow, potentially delaying access to funds and impacting the franchisee's ability to start operations promptly.

This condition underscores the importance of diligent preparation and adherence to Fly Fitness's requirements. Franchisees should communicate proactively with Fly Fitness to understand exactly which certificates and documents are needed and to track progress in obtaining them. This will help ensure a smooth closing process and avoid any delays related to escrow.