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Is Anytime Fitness franchise profitable?
The average Anytime Fitness location brings in about $441,116 in revenue per year, but a franchise owner can expect to make about $114,000 in profit after expenses. Anytime Fitness is the world's fastest-growing fitness club, according to the International Health, Racquet and Sportsclub Association.
How much do fitness franchise owners make?
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.
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 money do you need to franchise a gym?
The 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 it worth buying a gym franchise?
A gym franchise gets most of its revenue from membership fees, but it can also provide plenty of other ways to earn extra income. Personal training, classes, selling gym apparel, consumables and health and weight-loss products are just some of these ways.
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.
Can you get rich owning a franchise?
The bottom line is that while a franchise can make you independently wealthy, it isn't a guarantee. Choosing the right business in the right industry, and going in with preexisting entrepreneurial experience and/or existing wealth can help, but your income-generating potential may still be somewhat limited.
Do franchise owners make money?
Franchise Business Review found that the average annual pre-tax income of franchise owners in America is $80,000. Only 7% of franchise owners make more than $250,000 annually, and 51% earn less than $50,000. Legally, franchisors cannot give income amounts or forecasts of future income.
Which is the best franchise to own in USA?
Top 100 Franchises 2022RankNameCountry1KFCUnited States of America27-ElevenUnited States of America3McDonald'sUnited States of America4Marriott InternationalUnited States of America16 more rows
Can you own 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.
How much does it cost to open a workout anytime?
When you open a Workout Anytime franchise, we require you to have $200k of liquid capital, and a net worth of at least $500k. In our experience, Franchise Partners who have this level of available capital are eligible for additional financing.
How can I get money to start a gym?
What gym financing options are available?Bank loan. One way to secure funding is by getting a business loan from the bank. ... Personal savings. ... Find a business partner. ... Pitch investors and lenders. ... Invest in a gym franchise. ... Fitness equipment financing. ... Monthly payments. ... Legal fees and insurance.More items...•
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 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 does it cost to franchise 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.
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.
How much does an Anytime Fitness franchise cost?
Franchisees pay a flat fee of $699 per month for 1-3 centers unlike most franchise systems where franchisees are charged a percentage of sales. The total investment ranges between $78,012 and $521,437 depending on the size of the gym. Anytime Fitness Express centers cost $449 per month.
How often does Anytime Fitness get new members?
Growing Membership - Anytime Fitness gets a new member every minute. At Anytime Fitness, we have a new member join one of our clubs every minute of every day.
What is an anytime fitness center?
Anytime Fitness centers offer members convenient access and one-on-one, small and large group training. The Anytime Fitness franchise offers the opportunity to open a more limited Anytime Fitness Express center. The franchisor has developed an access and security system that allows members of an Anytime Fitness center to have access to any Anytime Fitness center 24 hours a day, automated tanning and vending services, and reciprocal benefits between centers. In limited cases, the franchisor may allow a center to not be accessible 24 hours a day.
How many territories does Anytime Fitness have?
Reasons to Open an Anytime Fitness. Worldwide Presence - Anytime Fitness is the first franchise on all 7 continents, with over 4,700 territories sold and 4 million members worldwide.
Can you have anytime fitness 24 hours a day?
The franchisor has developed an access and security system that allows members of an Anytime Fitness center to have access to any Anytime Fitness center 24 hours a day, automated tanning and vending services, and reciprocal benefits between centers. In limited cases, the franchisor may allow a center to not be accessible 24 hours a day.
How often do you have a new member at Anytime Fitness?
A new member every minute - At Anytime Fitness, we have a new member join one of our clubs every minute of every day.
How long is Anytime Fitness training?
With Anytime Fitness, the training never stops. Initially, we have a mandatory, two-week training course at our corporate office in Minnesota. Once the two-week training is complete, we provide daily or weekly assistance via the phone, onsite visits, email communications, and various publications. Assistance is available for as long as you need it. There is no additional cost for this valuable training and assistance.
How many territories does Anytime Fitness have?
Largest presence of any fitness franchise - Anytime Fitness is the first franchise on all 7 continents, with over 4,700 territories sold and 4 million members worldwide.
Is Anytime Fitness a business?
We offer a business and product that people need and enjoy, in an industry that continues to grow every year. With Anytime Fitness, you're in business for yourself, not by yourself.
How does the Anytime Fitness gym franchise model work?
The Anytime Fitness franchise model allows both single and multiple site ownership and offers significant earning potential in the growing fitness sector , which is currently worth over £5bn.
What does Anytime Fitness look for in its franchisees?
Anytime Fitness is looking for potential owners who are passionate about improving the health of the nation and making a difference in people’s lives.
What training and support does Anytime Fitness provide franchise owners?
For anyone considering becoming an Anytime Fitness franchisee, there is a chance to attend a free Discovery Day. This provides the chance to meet senior, executive members of the team and find out more about the opportunities available and the profit potential of owning an Anytime Fitness health club.
How much does an Anytime Fitness franchise business cost?
A minimum initial franchise fee of £122,000 is required, with additional funding available from leading banks, including Barclays, Natwest and Lloyds Bank, who can fund up to 70 per cent of the turnkey costs. Franchisees can expect operational breakeven in the first month of trading and a return on capital investment in their franchise business within 18 months.
Why is an Anytime Fitness franchise a good investment?
Franchising with Anytime Fitness gives you the opportunity to improve the health and wellbeing of your local community, while positively changing lives.
What are the Anytime Fitness franchise terms of agreement and renewal?
Anytime Fitness franchisees have a choice of a five- or 10-year agreement, allowing them to select a model that suits them, in line with property lease and funding terms. The same agreement options are available on renewal.
How in demand are health and fitness services right now?
The UK health and fitness industry is worth more than £5bn (2019 State of the UK Fitness Industry Report) with one in seven people in the UK being a member of a gym.
What is an anytime fitness?
Anytime Fitness is a 24 hour, seven days a week. 365-days-a-year exercise facility. All locations come equipped with aerobic and weight training equipment, changing areas, and showers. Members receive key-card access with a panic button.
How many members does Anytime Fitness have?
The company has over 3 million members. Anytime has over 2,255 U.S. owned franchises, while 1,240 locations operate internationally. 38 franchise locations are retained by corporate. The Anytime Fitness franchise, along with thousands of other thriving gym franchises have changed the landscape of the fitness industry.
What are some gym franchises?
Any style of person with any varying styles of working out can find a gym franchise to their liking. Gym franchises like Orangetheory, Snap Fitness, and Planet Fitness are all recognizable brands with cult-like followings.
What time does Anytime workout?
On Average, most members exercise between 6 a.m. and 9 p.m., with 11 members working out between 9pm and midnight, and five members that prefer the early morning between 1 a.m. and 5 a.m.
Where is Anytime Fitness located?
After watching their athletic club grow the two drew up the first franchise agreement with another employee Eric Keller and the first Anytime Fitness franchise location opened in Cambridge, Minnesota. (Keller is now Vice President of International Franchise Support for Anytime).
Who bought Southview Athletic Club?
Chuck Runyon and Dave Mortensen were working for a fitness club in St. Paul when they decided to jointly purchase Southview Athletic Club. At the time, the club only had 500 members. 7-years-later the club swelled to 4,000 members thanks to work of Mortensen and Runyon.
When did the fitness industry start?
The fitness industry was first put on the scene by the baby boomers from the late 1960s through the early 1970s. During the ‘Golden Era of Health,’ many Americans found new ways to exercise by joining health clubs.
