To whom are payments for furniture, fixtures, and equipment made for a Fly To Fit franchise?
Fly_To_Fit Franchise · 2024 FDDAnswer from 2024 FDD Document
CHISE AGREEMENT
| Type of expenditure | Amount | Method of payment | When due | To whom payment is to be made | |
|---|---|---|---|---|---|
| Initial franchise fee (see | $30,000 - | $30,000 | Check or wire transfer | Upon signing the franchise agreement | Us |
| Note 1) | |||||
| Rent and Lease Security | $2,500 - | \ |
Source: Item 7 — ESTIMATED INITIAL INVESTMENT (FDD pages 16–19)
What This Means (2024 FDD)
According to Fly To Fit's 2024 Franchise Disclosure Document, payments for furniture, fixtures, and equipment, which range from $15,000 to $30,000, are made to Fly To Fit's affiliate, vendors, and suppliers. These payments are typically made as incurred and can be made via check, debit card, or credit card.
This means that when a new Fly To Fit franchisee is setting up their studio, they will be purchasing these items from approved sources. It is important to note that Fly To Fit requires franchisees to purchase furniture, fixtures, and equipment from their approved vendors and suppliers. The bungee systems, which are essential for the fitness classes, must be purchased through these approved channels as well.
Understanding the approved vendors and suppliers is crucial for budgeting and ensuring compliance with Fly To Fit's standards. Prospective franchisees should confirm who the approved vendors and suppliers are and compare pricing and quality to make informed decisions. This also ensures that the franchisee is purchasing equipment that meets Fly To Fit's standards and specifications.