Yes, fitness franchises offer great profits but not as much as you might think. According to Investopedia, most franchise owners take home around $50,000 per year, but about 7% of franchise owners earn more than $250,000 per year. You have to be aware of some fees and additional costs because these will quickly cut into your profit margins.
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.
Can you still make money as a gym owner?
Even when you have a full class schedule and every gym session is booked, you can continue to make money through your digital services, consultations, and other health and fitness offerings you may have. As a business owner, it’s your responsibility to add value to your members.
What are the Best Fitness franchises to invest in?
Few fitness franchises are as hot right now as Anytime Fitness. This gym franchise focuses on offering group workouts as well as solo workout equipment. Best of all, the franchise provides members with a keycard to access the gym during off-hours, allowing people to work out on their schedule.
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. 4. Crunch Fitness
How much did gym franchises contribute to the fitness industry?
How much does it cost to franchise Gold's Gym?
How many locations does Anytime Fitness have?
How much does it cost to open a Planet Fitness franchise?
What is the judgment free zone at Planet Fitness?
What is the UFC gym?
How are royalties calculated for Anytime Fitness?
See 4 more
About this website
Is franchising a gym a good idea?
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.
Do gym owners make money?
Gym owners bring in revenue from a variety of sources, including membership fees, class fees, and personal training fees. The amount of money gym owners make varies depending on how successful they are in attracting new members and retaining current members.
How much do Anytime Fitness franchise owners make?
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.
How much do Planet Fitness franchise owners make?
As of 2018, the revenue range is 513,00 to 5,554,000 dollars; this was the annual gross calculated by the Electronic Transfer of Funds (ETF). They gain profits out of things such as monthly membership, merchandise, and membership cards.
Is starting a gym a good business?
In fact, while there is massive potential in owning a fitness business, 8 out of 10 of them will fail in their first year. However, if you manage to clear the first-year hurdles, you will come out the other side a stronger person and better entrepreneur, way more able to handle whatever gym ownership throws at you.
How much money do small gym owners make?
What Is the Average Gym Owner Salary by StateStateAnnual SalaryMonthly PayCalifornia$74,068$6,172Idaho$73,837$6,153New Hampshire$72,141$6,011Vermont$70,560$5,88046 more rows
What franchise is the most profitable?
Most Profitable FranchisesDunkin'7-Eleven.Planet Fitness.JAN-PRO.Taco Bell.Orangetheory Fitness.Great Clips.Mac Tools.More items...•
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.
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.
How much money do you need to open a Planet Fitness?
Planet Fitness's franchise fee is $10,000 for a 10-year renewable agreement, though the total investment ranges from $700,000 to $3.8 Million. Franchisees must also pay a 5% ongoing royalty fee on all sales to Planet Fitness. To open a gym, a franchisee must have of $3 million with $1,500,000 in liquid assets.
What is the profit margin for a gym?
Multipurpose clubs had a median margin of 15.5%, while the fitness-only clubs registered a profit margin of 20%. Of course, the profit margin for your gym and fitness club will depend on factors like location, facility size, type of gym, and various other factors.
What are the financial requirements for a potential franchisee?
Before being considered for the franchise investment, you might have to prove that you have a net worth of $100,000 or some other amount. Some large franchises require even larger net worth — into the range of $300,000 or more. This can be frustrating for some franchisees.
What is the toughest thing about being a gym owner?
Keeping all members happy all the time is a difficult part of owning a gym. As a gym owner, you genuinely want to offer the best experience for each and every member, but as each one's needs are different it can be very challenging. Consistently unhappy members can be a challenge to retain.
How much do gyms profit?
Revenue and profit varies by size. However, it's typical for a gym to generate between $1,000 and $2,000 a month in revenue within the first 6 months. After a year, a successful gym will generate at least $20,000 per month.
How much money does it take to start 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.
What does a gym owner do?
Gym owners are responsible for the day-to-day operations of their business. They oversee all aspects of management, including staffing decisions, marketing initiatives, and financial planning. Gym owners may also be involved in the actual physical construction of their facility.
33 Best Gym/Fitness Franchises of 2022 (UPDATED RANKINGS)
UPDATED January 1, 2022. The combination of new opportunities, a bounce-back from COVID, and the expected eventual return of the previous decade’s steady growth, together mean that gyms and fitness businesses offer huge potential and are among the most popular franchises.
8 Best Gym & Fitness Franchises To Open In 2022 - Merchant Maverick
Disclaimer: Merchant Maverick aims to provide accurate and up-to-date information to assist you in your research. You should double-check with the service provider/financial institution directly as well as obtain independent financial advice prior to making any financial commitments or business decisions.
15 Best Fitness & Gym Franchises - Fit Small Business
2. GymGuyz. Total Initial Investment: $56,072 to $222,672 No. Existing Locations: 125 Liquid Capital Required: $35,000 Net Worth Required: $150,000 Franchise Fee: $35,000 GymGuyz is a home personal training franchise company that focuses on individualized, one-on-one fitness, group sessions, and corporate fitness. It offers a wide range of services, including weight loss, body sculpting ...
Gym Franchises - Best Gym Franchise Opportunities for Sale
Find successful Gym Franchises to buy in our franchise directory. Get free info on Gym Franchises for sale on Top Franchise.
Who is the founder of Planet Fitness?
Michael Grondahl founded Planet Fitness in 1992. The franchise clubs offer free weights training, professional trainers, exercise machines, and other related services, auxiliary goods daily for 24 hours. Every Planet Fitness location holds special events for members, for example, bagel morning. Entrepreneurs have two options: they can open new franchise locations or convert existing training centers.
When did Gold's Gym open?
Bodybuilders training outside on Muscle Beach were the first customers for the original Gold's Gym when it opened in Venice, California, in 1965 . Arnold Schwarznegger's movie "Pumping Iron" focused on Gold's Gym, propelling it into the spotlight in 1975. Gold's Gym has been franchising since 1980.
Why do people choose Workout Anytime 24/7?
There are many reasons why clients choose Workout Anytime 24/7, and value-priced memberships, one-on-one personal training, and state-of-the-art equipment are among them. Members have access to the club 24 hours, seven days a week, 365 days per year. The franchisor helps with real estate selection and design and construction assistance, in addition to training and ongoing guidance.
What is Xist Fitness?
Xist Fitness is a unique concept in the health and fitness industry. The state of-the-art club offers the latest fitness equipment, personal training, massage beds, anti-aging red light therapy, and a full service tanning salon including UV-Free tanning! Each revenue stream is a compliment to another providing each member multiple services under one roof.
How many Figurella locations are there?
In 2012, Figurella introduced its method to the United States. With over 350 locations in 20 countries worldwide, it is the largest womens only fitness center and spa.
Who owns Burn Boot Camp?
The founders are Devan and Morgan Kline, husband and wife, who come a long way before they finally started their franchise. Burn Boot Camp is a combination of Devan’s experience as a professional athlete and trainer and Morgan’s marketing experience. The couple always knew that they wanted more than just a gym. Burn Boot Camp provides 45-minute cardio and strength workouts that provide physical and emotional transformations. The franchise has available multi-unit ownership and area development agreements.
Who is the founder of Get In Shape for Women?
Each session includes weight training, cardio and nutrition coaching. Founder Brian Cook started the Needham, Massachusetts-based company in 2006 and began franchising in 2007.
What is the main source of revenue for gyms?
For a lot of gyms and studios, their main source of revenue is memberships . Because of this, a lot of gyms and studios are missing out on several different revenue streams that are available. It not only benefits your members but your business too. Here are a few key reasons why this strategy is so important.
What is the next step in a fitness business?
The coronavirus pandemic emphasized the need to be flexible and be able to shift very quickly to a new way of working. This has opened up digital fitness to an unforeseen level and presents a huge opportunity to leverage the home fitness craze to make more money and connect with your members.
Why is it important to add value to your business?
When you add value to your business, it helps to increase member retention and make you stand out from your competitors. Provide members with a reason to stick around and maximize their gym memberships.
What is wellness coaching?
As wellness and fitness continue to merge together, well-being coaching takes into account physical and mental states to improve overall wellness.
What does affiliate marketing do?
When you become an affiliate partner, you promote, share and encourage people to buy a certain brand or product. You get a small commission when a person buys the product. If you have a good fitness blog and have been building a decent flow of high-quality content, affiliate marketing is an easy way to generate additional income.
Is nutrition a part of fitness?
Nutrition and fitness go hand in hand. Often, eating habits tend to be a major obstacle in health and fitness. When you can offer nutrition planning and consultations alongside your business, you are giving your members a bigger opportunity to be successful. When members hit their targets, they are more likely to tell their friends and family and remain loyal to your business.
Is digital fitness a future proof?
Digital fitness not only future proofs your business in the case of a second wave of COVID-19 but creates an additional revenue stream. You can now tap into the home workout crowd, of which there are many potential clients. The restrictions of your local area don’t exist anymore, allowing you to reach people anytime, anywhere.
How long does it take for a boutique fitness studio to make money?
So, are boutique fitness studios profitable? Boutique fitness studios can be highly profitable. You can expect to turn a profit within 6-18 months. However, you need to make sure you do everything right. If you choose the wrong location or messaging, charge the wrong prices, or pay for ineffective marketing, you risk losing money.
How big is a boutique gym?
Boutique fitness studios are smaller than typical gyms, ranging in size from 800 to 3500 square feet. This size is rather small compared to traditional gyms. Boutique fitness studios also typically focus on one type of exercise, and members almost always work out in a group setting. Due to the small size, most boutique studios charge a premium ...
How Much Does It Cost to Open a Boutique Studio?
To forecast if your boutique fitness studio is going to be profitable, you first have to identify every expense and income.
How to increase revenue in a business?
The more money your business brings in, the more you can reinvest in the business. However, you don’t need a ton of extra money to bring in extra revenue. Here are a few ways you can increase revenue without breaking the bank: 1 Sell t-shirts, socks, and towels with your logo. 2 Offer a referral program where members receive a discount (or one of your t-shirts) if they bring a friend. [Use StudioGrowth as it has an in-built referral module] 3 Contract a nutritionist to offer nutritional counseling as an upsell when members are purchasing class-packs and memberships online. [Use StudioGrowth to offer one-click upsells] 4 Reach out to similar businesses in the area to offer cross-marketing: a massage therapist could give 20% off to someone taking your fitness class and vice versa.
What is Orange Theory Fitness?
Orange Theory Fitness, for example, is one of the largest boutique fitness companies with over 1100 franchise locations. Opening an Orange Theory Fitness studio gives you the benefit of having the marketing expertise and brand recognition that a startup would not have.
How does choosing a location affect your business?
Choosing a location will dramatically impact both your startup costs and your chances of success. Boutique studios that report higher profits also report a higher than average cost for rent or rent payments. It might be tempting to choose a location with lower rent. Still, for a niche business like boutique fitness studios, ...
How to make your boutique a destination?
Learn every member’s name and something about them. When someone is paying over $30 for one exercise class, they enjoy being greeted by someone who knows their name. Personalization, both online and offline, is the key.
What is franchise investment?
All franchises come with some kind of investment, which usually comprises corporate fees, startup costs, real estate, staff, equipment and other expenses, too. Your investment will be contingent on several things, but the two most important are the mandatory expenses set by the parent company to get up and running as well as the regional expenses that dictate costs (in other words, some markets are more expensive than others).
Is Snap On a good franchise?
Any gearhead, DIY aficionado, mechanic, or professional contractor will tell you that few tool brands have as high a reputation for quality — and even a cult following — as Snap-On does. This high brand affinity makes Snap-On a great franchise to consider if there’s a strong opportunity in your determined area. The low investment threshold and net worth requirement also make Snap-On a promising option for would-be owners that aren’t flush with the kind of cash needed to sign on with other franchise businesses.
Is Ace Hardware a good franchise?
Ace Hardware is an excellent franchise prospect for providing an antidote to the big-box home improvement store experience, which is typically marked by unhelpful staff and overwhelming product choices. Instead, Ace Hardware locations pride themselves on hiring staff that put customer service at a premium and keeping product choices to a reasonable selection. Their franchises make it easier for local hardware stores to remain competitive against mega-stores by way of their cooperative structure and store-brand products.
Is McDonald's the most expensive franchise?
We’re pretty positive this is a name you know. McDonald’s is one of the more expensive franchises around, but has perhaps the best brand recognition in the world. If you’re able to open a McDonald’s franchise in a well-trafficked area without much competition, you may be able to quickly recoup the initial investment.
Is it hard to find a franchise?
Still, just knowing you’re interested in a franchise is only the beginning; in reality, finding the best franchise opportunities can be a challenge. There are more franchises out there than one can reasonably count and consider, making it tough to figure out which one is right for you.
Is Kiddie Academy a franchise?
There are franchise opportunities throughout 49 states (sorry, Montana) and plenty of room to grow.
Is Primrose a franchise?
Early childhood education is a prime market for franchise opportunities as parents look to give children every opportunity to learn — even within their early years of education. Primrose Schools are a solid franchise because they offer educational programs all year round, are licensed facilities for educational child care and give their teachers continuing education access to keep their skills sharp.
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).
