When is the Fly To Fit Marketing Fund Contribution due each month?
Fly_To_Fit Franchise · 2024 FDDAnswer from 2024 FDD Document
| Type of Fee | Amount | Due Date | Remarks |
|---|---|---|---|
| Royalty | 6% of your gross sales | Monthly, by the 1st Tuesday of the following month | See Note 1 and Note 2. |
| Marketing Fund Contribution | 1% of your gross sales | Monthly, by the 1st Tuesday of the following month | See Item 11 for a detailed discussion about these funds. Amounts due will be withdrawn by electronic wire transfer from your designated bank account. |
Source: Item 6 — OTHER FEES (FDD pages 12–16)
What This Means (2024 FDD)
According to Fly To Fit's 2024 Franchise Disclosure Document, the Marketing Fund Contribution is due monthly, specifically by the first Tuesday of the following month. This contribution is set at 1% of the franchisee's gross sales. Fly To Fit will collect these payments via electronic wire transfer from the franchisee's designated bank account. Item 11 of the FDD provides further details regarding the marketing fund.
This means that a Fly To Fit franchisee must calculate 1% of their gross sales each month and ensure that the funds are available for electronic withdrawal by the first Tuesday of the subsequent month. For example, sales made in January would have the 1% marketing fund contribution due on the first Tuesday of February.
It is important for prospective franchisees to review Item 11 of the FDD, as referenced, to fully understand how the marketing fund is managed and how it benefits franchisees. Understanding the specifics of the marketing fund, including how the money is spent and what strategies are employed, is crucial for evaluating the overall value of the Fly To Fit franchise opportunity.