Under what conditions can Fly Fitness deny an extension to the opening deadline?
Fly_Fitness Franchise · 2024 FDDAnswer from 2024 FDD Document
We estimate the typical length of time between the signing of the Franchise Agreement and the time you open your Fly Fitness outlet is six to nine (6-9) months. Factors that may affect this time period include your ability to acquire a site, financing, zoning, or other permits; compliance with local ordinances and restrictions; shortages for construction; delivery and installation of fixtures, signs and equipment, and completion of required training. If you have not opened your Franchised Business within twelve (12) months after you sign the Franchise Agreement, or within six (6) months of us approving your location, you must obtain our consent to extend the time to open, which we may or may not grant, at our discretion. Failure to open your Franchised Business within the original time as extended, is a default of the Franchise Agreement. (Franchise Agreement, Sections 8.1.2, 8.3 and 8.4)
Source: Item 11 — FRANCHISOR'S ASSISTANCE, ADVERTISING, COMPUTER SYSTEMS AND TRAINING (FDD pages 22–29)
What This Means (2024 FDD)
According to Fly Fitness's 2024 Franchise Disclosure Document, franchisees are expected to open their Fly Fitness outlet within a specific timeframe. The typical time frame for opening a Fly Fitness outlet is estimated to be six to nine months after signing the Franchise Agreement. However, various factors can affect this timeline, including securing a suitable site, obtaining financing, zoning and permits, compliance with local regulations, construction delays, and the installation of fixtures and equipment.
Fly Fitness specifies that if a franchisee fails to open their franchised business within twelve months of signing the Franchise Agreement, or within six months of Fly Fitness approving the location, the franchisee must obtain Fly Fitness's consent to extend the opening deadline. Fly Fitness has the discretion to either grant or deny this extension.
Failure to open the Fly Fitness franchise within the initially agreed-upon time frame, or any approved extension, constitutes a default under the Franchise Agreement. This clause underscores the importance of franchisees adhering to the established timelines and proactively addressing any potential delays with Fly Fitness. Prospective franchisees should carefully consider these time constraints and ensure they have a realistic plan for opening their Fly Fitness studio within the stipulated period.