Do you have what it takes to own a gym franchise?
Although gym franchises require that the owner has previous management experience, most don’t require experience in the fitness industry. So any aspiring entrepreneur with a passion for fitness may be eligible for gym franchise ownership, whether they’re a trained fitness pro or not.
Which is the best gym franchise in the US?
The 33 Best Gym and Fitness Franchises of 2020 (Updated Rankings) 1 Jazzercise. 2 Anytime Fitness. 3 Planet Fitness. 4 Snap Fitness. 5 Orangetheory Fitness. 6 F45 Training. 7 Round. 8 Gold’s Gym. 9 Fit Body Boot Camp. 10 Pure Barre. More items...
Is planet Fitness a good franchise?
Planet Fitness Planet Fitness is on a mission to dominate the fitness franchise industry. It already has a fantastic reputation as a low-cost “judgement-free” gym for regular people, with monthly membership fees among the lowest in the industry and perks like Pizza Mondays and Bagel Tuesdays.
How can Gym franchises attract more customers?
While millions of Americans have gym memberships, only a third of them think that they get good value for money from this. This creates an opportunity for gym franchises that can provide a better balance of costs and services to draw away customers. One way to do this is by catering to different demographics.
How to increase profit margin in gym?
Do gym franchises have higher success rates than independent businesses?
Will Franchising a Gym Become a Profitable Business?
Are Gym Franchises Profitable?
What is the most profitable fitness franchise?
The Top Gym and Fitness Franchises of 2022Jazzercise. Jazzercise is the kind of fitness franchise that has been around long enough that you might think it must be woefully out of date, but you'd be wrong. ... Anytime Fitness. ... Planet Fitness. ... F45 Training. ... Orangetheory Fitness. ... Snap Fitness. ... 9Round. ... Club Pilates.More items...•
Are gyms a good business investment?
If you're going to invest your hard-earned money, you might as well secure it in a gym franchise. Later on, when you are financially stable, you can have the freedom to start your own business or continue expanding your franchise as it will most likely be a success. The bottom line is, gym franchises are profitable.
How much does it cost to open a gym franchise?
between $30,000 and $300,000The total upfront investment for a gym franchise can fall anywhere between $30,000 and $300,000, including the one-time franchise name fee (ranging from $15,000 to $30,000). Of course, some brands are less expensive than others. Ditto for some locations.
Is owning an Anytime Fitness profitable?
How much do Anytime Fitness Franchises Make? The average revenue across the 1,103 Anytime Fitness centers that implemented the Training Suite for the year ending December 31, 2021, is below. The average Anytime Fitness reported $384,958 in annual revenue.
What does the average gym owner make?
$73,905 a yearHow much does a Gym Owner make in California? As of Sep 24, 2022, the average annual pay for a Gym Owner in California is $73,905 a year. Just in case you need a simple salary calculator, that works out to be approximately $35.53 an hour. This is the equivalent of $1,421/week or $6,158/month.
Do gyms make money?
Yes, gyms make money from membership fees, but that's just the beginning. Classes, personal training sessions, and merchandising also play a part. Check out this guide to learn how gyms make money.
Is it hard to own a gym?
The fitness industry has become hyper-competitive and becoming a successful gym owner is getting harder and harder. In fact, while there is massive potential in owning a fitness business, 8 out of 10 of them will fail in their first year.
How much should you invest in a gym?
Think somewhere between $10,000 for a personal studio to $50,000 for a fully-equipped commercial gym. Be sure to shop around—and keep in mind you can often get a discount if you purchase the equipment in sets as a complete package. Certifications – having a professional, certified staff is a big plus.
How can I open a gym with no money?
Steps To Opening A Gym With No MoneyStart small and allow your business to grow later on.Marketing should be free - by using social media you can cross-promote with other businesses (this can also include free trials or passes for your some or all of your services)More items...
How much does a Planet fitness owner make?
How Much Do Planet Fitness Franchise Owners Make?FRANCHISED ONLYBOTTOM THIRDUPPER THIRDAverage Annual EFT Revenue-$1,022,241$2,210,892Median Annual EFT Revenue-$1,050,049$2,098,704High Annual EFT Revenue-$1,316,182$4,370,9401 more row•Jul 19, 2022
How much do Orangetheory franchise owners make?
Estimated Average Franchise Revenue: $517,000 1- Based on a midpoint investment of $1,378,500 with estimated profits of $51,800 (10% profit margin) it would take about 27 years to recoup your investment.
Is Anytime Fitness franchise good?
Anytime Fitness is a successful franchise that can deliver stable revenue which gives you a few financing options: Unsecured business loan. If you don't have property to offer as security you can opt for an unsecured business loan.
How much does it cost to invest in a gym?
It can cost you anywhere from $8,000 for a studio to $50,000 for a large gym with all the equipment you could need. While investing in gym equipment make sure you look out for the best quality equipment so that you do not have to keep maintaining it.
What is the initial investment for a gym?
Think somewhere between $10,000 for a personal studio to $50,000 for a fully-equipped commercial gym. Be sure to shop around—and keep in mind you can often get a discount if you purchase the equipment in sets as a complete package. Certifications – having a professional, certified staff is a big plus.
How do you invest in fitness?
How To Invest Your Money The Right Way In The Fitness IndustryStart A Fitness Franchise. ... Become A Personal Chef. ... Selling Fitness Products. ... Become A Health Coach. ... Create A Health And Fitness Blog. ... Become A Physical Therapist.
Do gyms make money UK?
The UK has a thriving gym and fitness industry, with over 7,000 health clubs boasting more than 10 million members. Together, this turns out a hefty profit, too — the annual health club industry's revenue is about $6.17 billion USD. The annual turnover of fitness facilities in the UK is £2bn.
Retail Sales
Profitable franchise gyms offer retail sales in addition to various workout services. Products include items such as smoothies and meal replacements that will help your members achieve their fitness goals quicker. Another great retail product to sell is franchise branded apparel.
Group Workouts And Classes
Next, the best franchise gyms operate group workouts and classes within their recurring billing prices. These workout classes create a sense of community between members, as well as between your trainers/teachers and their clients. Many franchises offering such classes operate them on a tight schedule.
Personal Training
Many of the best operated franchise gyms also offer one-on-one personal training. A service like this provides additional coaching and motivation. For those members who need it, personal training will aid in their retention. Less experienced members will also learn a great deal from one-on-one interactions with a salaried personal trainer.
Flexible Hours
One of the best ways to operate a franchise gym profitably is to have flexible hours. In fact, the most successful ones are open 24 hours a day, seven days a week. This will allow you to attain members you otherwise would not.
Combat Sports Training
The final way to maximize your franchise gym’s profits is to offer training in combat sports. This can take the form of mixed martial arts or kickboxing. Many members will jump at the chance to learn these skills, as they will keep them safe in all areas of life. It also provides a fun way of challenging their bodies and minds.
Raise Your Gym Franchise Standards
Especially after the COVID-19 pandemic, gym franchises must raise their level of standards. The best franchises are driven by brand trust and reliability. You must choose a franchise that promotes cleanliness, safety and limitations.
How much did gym franchises contribute to the fitness industry?
And in 2019, gym franchises specifically contributed $4 billion to the $34 billion gym, health, and fitness industry.
How much does it cost to franchise Gold's Gym?
Gold’s Gym also requires that potential franchisees have a minimum of $1 million in net worth and $400,000 in liquid assets.
How many locations does Anytime Fitness have?
Since their start in 2002, Anytime Fitness has opened over 4,000 locations on all seven continents. Their popularity mostly comes down to their unique business model: All Anytime Fitness locations are open 24 hours a day, seven days a week, and members can access any of those 4,000+ locations no matter where they are in the world. In addition to standard gym fare, Anytime Fitness locations offer a range of classes and services, like yoga, spin, cardio, Zumba, and personal training. Anytime Fitness also prides themselves on engendering a supportive environment for members and they prioritize employee wellness.
How much does it cost to open a Planet Fitness franchise?
With that in mind, Planet Fitness franchisees will need to pay for that international brand recognition—opening a Planet Fitness franchise may cost over $4 million. Royalty fees are 7% of the total gross monthly and annual membership fees, and advertising fees vary. Initial term lengths last 10 years.
What is the judgment free zone at Planet Fitness?
Planet Fitness trademarked the phrase “judgment free zone,” so that alone should give you a sense of this gym’s major value: inclusivity for all people, regardless of their fitness levels. With that accessible attitude in mind, Planet Fitness tries particularly to target the 80% of the American and Canadian population who don’t have gym memberships.
What is the UFC gym?
Owning a UFC Gym means owning a portion of the fastest growing sport in the world—a truly future-proofed business proposition.
How are royalties calculated for Anytime Fitness?
Royalty fees and advertising fees are generally calculated as a percentage of gross sales in franchise agreements, but Anytime Fitness’ rates are flat from month to month, which makes it easier for you to plan and organize your expenses. They’ll provide you with a personal support team, comprehensive training, and marketing support over the course of your franchise agreement’s six-year term (or 10, if you’re in California).
Are Gyms and Fitness Centres Profitable?
Starting any business requires a ton of hard work and overcoming many known (and unknown) challenges. Opening a gym is no exception. However, in order to have a higher chance of owning a profitable gym or fitness center, you will need need a recipe for success.
Market and Product Niches
You don’t have to start a gym that caters to everyone. Choose your market niche carefully and differentiate your business from the competition as much as possible. Differentiation is key to not competing solely on price since there can only be one low price leader in any industry, and the chances of that being you is not likely.
Choosing the right location for your gym
Choosing the right location is critical to any business’ success, including your gym. In order to correctly choose the optimal location, you need to consider the following major criteria:
The Right People and Partners
Choosing the right staff, especially very early on in your business, will often mean business success or failure. To reduce startup risks, consider becoming a master franchisee of proven and established fitness and gym franchises, especially brands that have proven themselves to be successful in your country or region.
Use Guerrilla Marketing
The fitness industry is competitive. You’ll have to stand out from larger brands with cheap monthly plans. Make your gym known through precise marketing. Radio and television advertising still works, but it can put a huge dent in your budget. Digital marketing is an effective solution.
Sufficient Capital
Remember the old adage – CASH IS KING. Starting a gym isn’t cheap and ensuring its profitability will require not only entrepreneurial ingenuity but capital! A basic gym can command an investment of 10,000-50,000 US dollars, according to Entrepreneur Magazine. Larger and unique, one-of-a-kind, high tech gyms can go into six figures.
How much money did gyms make in 2018?
Franchises take up a significant part of that market, with 9,582 of those 38,000 clubs. They accounted for $4 billion of gym, health, and fitness clubs’ $34 billion revenues in 2018. These franchises were doing so well that we had to expand our list from 25 to 33 of the best fitness franchises.
How much did the fitness industry lose in 2020?
As a result, the gym, health, and fitness clubs industry has survived the pandemic, though its revenues fell by an estimated 13.2% in 2020. Franchised gyms and fitness clubs saw a slightly slower decline of 11.2% in 2020. The industry hasn’t suffered as much as arts and entertainment, but it has seen tough times.
How many gyms will be there in 2020?
Going into 2020, there were over 38,000 clubs across the country and the industry had an annual growth rate of 6.7%.
What is crunch fitness?
Crunch Fitness is the place to go for people who want edgy, off-the-wall offerings that include Electro Stretch, Twerkout, Badass Bootcamp, Hip-Hop Aerobics, Co-Ed Action Wrestling, and Cyked Yoga Cycling. Their workouts fuse fitness and entertainment in order to make serious exercise fun. Keeping up a constant flow of new “wow” workouts isn’t easy, but Crunch manages to keep it going. And it was recently sold to TPG Growth, the middle market and growth platform of alternative asset firm TPG.
What is the name of the company that owns Basecamp Fitness?
2. Anytime Fitness. Anytime Fitness is a subsidiary of Self Esteem Brands, its parent company which owns a variety of related franchises such as Basecamp Fitness, Pumpone, Waxing the City, and Healthy Contributions. Anytime’s claim to fame is how members get 24/7 access to any of its 4,000+ locations around the world.
What is Gold's gym?
Gold’s is a full-service gym with all kinds of training equipment, group fitness, personal training, locker room services, a kids’ club, and a pro shop with clothing, accessories, drinks, bars, supplements, nutritional products, and other items.
Is 2021 a good year for gyms?
While 2021 is unlikely to be as good a year for gyms as 2019, safe and effective COVID vaccines, well-developed anti-COVID measures, the addition of online classes, and a gradual return to normality will allow gyms and fitness franchises to pull back from a very tough year.
What are the two sectors of franchises that can make millions?
Two very profitable franchise sectors today that can also earn into the millions are staffing franchises, and senior care . Senior care is very much in demand right now as 10,000 baby boomers are turning 65 every day and many of them require help with daily functions. We have seen single unit franchises in both in senior care and staffing earning upwards of 20 million dollars a year.
How much does a senior care franchise cost?
Staffing franchises and senior care typically in the $80,000 to $180,000 investment range. Owners need to be good at building and managing teams, and creating relationships in their communities. This isn't a business where people just walk in and buy a haircut or a hamburger. So it takes a special type of owner to do well in these types of operational models.
How many car wraps can a franchisee do?
A franchisee might under a single contract provide fleets of 500 car wraps or more. And here is another reason the franchising model works so well. By partnering with an established company with major national accounts and log history of experience you come out of the gate running.
Does master franchising make you a millionaire?
So it takes a special type of owner to do well in these types of operational models. A little known secret - Master franchising has made many millionaires. With master franchising you purchase the licensing rights to a territory. You might buy rights to a single city, or to an entire country.
Do food franchises yield as much as service based franchises?
So there you have it - even though everyone thinks they want a food franchise they often do not yield as much as certain service based franchises that can be as low one tenth of the investment. Every single one of the franchises discussed, even the highest earning franchises - also has franchises in their system that failed.
How to increase profit margin in gym?
Another way to increase your profit margin is by making your gym accessible for people with disabilities. Ensure that there are ramps leading to the front door and that there’s an elevator if you have a two-story space . “Accessible” doesn’t just refer to the physical space, although that’s an important part of it. You also need to have a friendly, welcoming environment, and staff members who know how to work with people with a wide range of mobility and cognitive abilities. Why not consider offering that environment by franchising with Special Strong?
Do gym franchises have higher success rates than independent businesses?
Do you know that franchise businesses have higher success rates compared to independent businesses? It is a clear indication that gym franchises are indeed profitable. Since it is already an established business that you’re going to manage, you can be successful with little help from your franchisor. The risks of startups and launching your own business are high. If you’re going to invest your hard-earned money, you might as well secure it in a gym franchise. Later on, when you are financially stable, you can have the freedom to start your own business or continue expanding your franchise as it will most likely be a success.
Will Franchising a Gym Become a Profitable Business?
Even with all the gym shutdowns, however, franchising a gym can still be profitable.
Are Gym Franchises Profitable?
A lot of people have realized the importance of daily greens and going to the gym. For the past few years, the fitness industry saw growth as it has never before. That’s what makes gym franchises a profitable venture.
