How many Fly To Fit outlets were at the start of 2021?
Fly_To_Fit Franchise · 2024 FDDAnswer from 2024 FDD Document
Table 4 Status of Company-Owned Outlets For Years 2021 to 2023
| State | Year | Outlets at the Start of the Year | Outlets Opened | Outlets Reacquired from Franchisee | Outlets Closed | Outlets Sold to Franchisee | Outlets at End of the Year | |---|---|---|---|---|---|---|---| | | | | | | | | | | New York | 2021 | 1 | 0 | 0 | 0 | 0 | 1 | | | 2022 | 1 | 0 | 0 | 0 | 0 | 1 | | | 2023 | 1 | 0 | 0 | 0 | 0 | 1 | | Totals | 2021 | 1 | 0 | 0 | 0 | 0 | 1 | | | 2022 | 1 | 0 | 0 | 0 | 0 | 1 | | | 2023 | 1 | 0 | 0 | 0 | 0 | 1 | Table 5 Projected Openings for 2024 As Of December 31, 2023
| State | Franchise Agreements Signed but Outlet Not Opened | Projected New Franchised Outlets in the Next Fiscal Year | Projected New Company Owned Outlets in the Next Fiscal Year |
|---|---|---|---|
| Florida | 0 |
Source: Item 20 — OUTLETS AND FRANCHISEE INFORMATION (FDD pages 41–44)
What This Means (2024 FDD)
According to Fly To Fit's 2024 Franchise Disclosure Document, at the start of 2021, there was a total of one Fly To Fit outlet. This single outlet was company-owned, as there were zero franchised outlets at that time. By the end of 2021, the total number of outlets remained at one, with no net change during the year.
Specifically, the FDD indicates that in 2021, the one Fly To Fit outlet was located in New York. There were no outlets opened, reacquired from a franchisee, closed, or sold to a franchisee during that year. This suggests that Fly To Fit had a very limited operational footprint at the beginning of 2021, with only a single corporate location in one state.
For a prospective franchisee, this information highlights the early stage of Fly To Fit as a franchise system. The fact that there was only one company-owned outlet at the start of 2021, and no franchised locations, indicates that the franchise system was still in its nascent phase. This could represent both an opportunity and a risk for potential franchisees. The opportunity lies in being among the first to establish the brand in new markets, but the risk involves investing in a system with a limited track record.