What was the total number of Fly To Fit outlets at the end of 2023?
Fly_To_Fit Franchise · 2024 FDDAnswer from 2024 FDD Document
Table 1 Systemwide Outlet Summary For Years 2021 to 2023
| Outlet Type | Year | Outlets at the Start of the Year | Outlets at the End of the Year | Net Change | |---|---|---|---|---| | | | | | | | Franchised | 2021 | 0 | 0 | 0 | | | 2022 | 0 | 0 | 0 | | | 2023 | 0 | 0 | 0 | | Company-Owned | 2021 | 1 | 1 | 0 | | | 2022 | 1 | 1 | 0 | | | 2023 | 1 | 1 | 0 |
| Outlet Type | Year | Outlets at the Start of the Year | Outlets at the End of the Year | Net Change | |---|---|---|---|---| | e | | | | | | Total Outlets | 2021 | 1 | 1 | 0 | | | 2022 | 1 | 1 | 0 | | | 2023 | 1 | 1 | 0 | Table 2 Transfers of Outlets from Franchisees to New Owners (other than the Franchisor) For Years 2021 to 2023
| State | Year | Number of Transfers | |---|---|---| | N/A | 2021 | 0 | | | 2022 | 0 | | | 2023 | 0 | | Total | 2021 | 0 | | | 2022 | 0 | | | 2023 | 0 | Table 3 Status of Franchised Outlets For Years 2021 to 2023
| State | Year | Outlets at the Start of the Year | Outlets Opened | Termi Nations | Non Renewals | Reacquired by Franchisor | Ceased Operations – Other Reasons | Outlets at End of the Year |
|---|---|---|---|---|---|---|---|---|
| 2021 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | |
| N/A | 2022 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| 2023 | 0 | 0 | 0 | 0 | 0 | 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 end of 2023, there was a total of one outlet. The FDD provides a systemwide outlet summary for the years 2021 to 2023. In 2023, there was one outlet at the start of the year and one at the end, resulting in a net change of zero. This single outlet is company-owned, as Fly To Fit had no franchised outlets during this period.
For a prospective franchisee, this indicates that Fly To Fit is a very young franchise system. The fact that there was only one company-owned location in operation through 2023 suggests that the business model may still be in early stages of development and testing.
It's important to note that while there were no franchised locations, Fly To Fit projects opening three new franchised outlets in Florida, Georgia, and Texas in the next fiscal year. This planned expansion could signal a shift in the company's growth strategy and an increased focus on franchising. A potential franchisee should investigate the reasons behind the shift to franchising and the support and training offered to new franchisees.