What is the amount of the Fly To Fit non-compliance fee?
Fly_To_Fit Franchise · 2024 FDDAnswer from 2024 FDD Document
| Type of Fee | Amount | Due Date | Remarks |
|---|---|---|---|
| Non-compliance fee | $500 | On demand | We may charge you $500 if your business is not in compliance with our system specifications or the franchise agreement and you fail to correct the non-compliance after 30 days' notice. Thereafter, we may charge you $250 per week until you correct such non-compliance. |
Source: Item 6 — OTHER FEES (FDD pages 12–16)
What This Means (2024 FDD)
According to Fly To Fit's 2024 Franchise Disclosure Document, a franchisee may be charged a non-compliance fee of $500 if the business is not in compliance with Fly To Fit's system specifications or the franchise agreement. This fee is charged if the franchisee fails to correct the non-compliance after receiving 30 days' notice.
Furthermore, if the non-compliance continues beyond the initial 30-day notice period, Fly To Fit may charge an additional $250 per week until the franchisee rectifies the non-compliance. This escalating fee structure is designed to incentivize franchisees to promptly address and resolve any issues of non-compliance with Fly To Fit's standards and agreements.
This fee is payable on demand, meaning Fly To Fit can request immediate payment once the fee is assessed. It is important for prospective franchisees to understand these potential costs and ensure they are prepared to maintain compliance with all system specifications and the franchise agreement to avoid incurring these fees.