How much does a Gold's Gym franchise cost?
- Initial Franchise Fee: $40,000
- Total Investment: $2,218,250 to $5,000,500
- Working Capital: $20,000 to $150,000
- Royalty Fee: 5.0%
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| Name of Fee | Low | High |
|---|---|---|
| Initial Franchise Fee | $40,000 | $40,000 |
| Travel and Living Expenses During Training | $4,000 | $7,000 |
| 3 Months' Rent | $30,000 | $255,000 |
| Security Deposit for Lease | $12,000 | $150,000 |
How much does it cost to open a gym franchise?
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.
How much does Gold's Gym pay in US?
Tell us about you and get an estimated calculation of how much you should be earning and insight into your career options. How much does Gold's Gym in the United States pay? Average Gold's Gym hourly pay ranges from approximately $7.25 per hour for Trainer to $27.43 per hour for Fitness Instructor.
How much do Golds gym franchise owners earn?
The average Gold's Gym Salary for Manager Owners is $123,230 per year. Subsequently, question is, what is the fees of Gold Gym? Business Alliance, Inc. $5.00 per month per Gold's AMP member. Not currently charged, but if implemented, approximately $99 per month (subject to increase). In this manner, how much do gym franchise owners make?
How much does a gold's gym membership cost per month?
The Gold's Gym prices are very competitive and affordable as well. If you are joining the gym as a single member there is no contract to sign, no enrollment fee, no annual fee and you would just pay the basic month of $29.99. But if you can come in as a pair then you can even save more.
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What is a Gold Gym franchise?
Franchise Description: The franchisor is Gold’s Gym Franchise LLC. The franchisor’s parent company is RSG Group USA Inc. The franchisor grants franchises for health clubs which are primarily identified by the marks and use the franchise system. Gold’s Gym facilities will offer a full array of amenities, products and services to members. Currently, all new Gold’s Gym facilities must offer cardio training equipment, resistance training equipment, group fitness, personal training and locker room services, a kids’ club, and must have a “pro shop” including sales of clothing, accessories, drinks, bars, supplements, nutritional products and other items. (However, the franchisor may elect to waive some of these requirements if the Gold Gym facility is to be located in certain large, urban locations, such as Manhattan, New York.) New Gold’s Gym facilities also may offer other optional amenities, products and services that the franchisor currently authorizes, like cardio cinema, basketball, racquet and other courts, smoothie bars and juice bars.
How long is franchise training?
Currently, initial training consists of approximately 30 hours of classroom training and five hours of on-the-job training at the franchisor’s location in Dallas, Texas. If franchisees participate in one or more optional studio programs, additional training will be required. During the Franchise Agreement’s term, the franchisor may require franchisees and/or their personnel, including newly-hired managers and previously-trained and experienced employees at the facility, to attend and satisfactorily complete various training courses and programs that the franchisor chooses to provide periodically at the times and locations it designates. The franchisor also may require franchisees to conduct periodic training for facility personnel using the formats and procedures that it periodically specifies. Franchisees (or, if they are a business entity, one of their owners) or the facility’s general manager must attend each annual convention that the franchisor (at its sole option) organizes for Gold’s Gym facility operators.
What are the obligations of a franchisor?
Obligations and Restrictions: The franchisor does not require, but does recommend, that franchisees (if they are an individual) or the managing owner (if the franchisee is an entity) participate personally in the direct operation of the facility. Franchisees must at all times retain and exercise direct management control over all aspects of the facility’s business and all amenities and other products and services it offers. Only an individual who devotes his or her full working time and best efforts to the day-to-day, on-premises operation of the facility, has satisfactorily completed our management training program, and is not engaged in any other business endeavor except passive investments which do not interfere with the performance of his or her duties as manager may manage the facility. Franchisees must offer all amenities and other products and services that the franchisor periodically specifies as being mandatory. Franchisees may not offer, sell, provide or otherwise distribute at the facility, the site or any other location any amenities or other products or services the franchisor has not authorized, and they must discontinue selling and offering any amenities and other products or services that the franchisor at any time disapproves in writing.
What is a territory granted in a franchise agreement?
Territory Granted: Franchisees will operate the facility at a specific site that the franchisor first must accept. If franchisees have not yet located an accepted site when they sign the Franchise Agreement, the franchisor will designate a “site selection area” when they sign that agreement. The franchisor typically identifies site selection areas either using city boundaries or as a circle with a radius of a specified distance that it determines from a specified intersection. There is no minimum size for a site selection area. Except as provided in the FDD, if franchisees are complying with the Franchise Agreement, then neither the franchisor nor its affiliates will, during the term of the Franchise Agreement, operate or authorize any other party to operate a Gold’s Gym facility the physical premises of which are located within (i) the site selection area (until the franchisor designates the territory) or (ii) the territory (once the franchisor has designated the territory). The territory is a circle with a radius of a specified distance that the franchisor determines from the facility’s main front entrance. The franchisor will determine that distance based on the factors that it deems relevant, which might include demographics, the character of the site and nearby businesses and residences. The minimum territory may be as small as one-eighth of a mile in a densely populated area, or in some rural areas, up to three miles.
How far is a franchisor's territory?
The minimum territory may be as small as one-eighth of a mile in a densely populated area, or in some rural areas, up to three miles.
How many hours of training is required for a franchise?
Currently, initial training consists of approximately 30 hours of classroom training and five hours of on-the-job training at the franchisor’s location in Dallas, Texas. If franchisees participate in one or more optional studio programs, additional training will be required.
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Franchise Direct's reputation for integrity in the franchise industry has been established over our 20+ years in business. We NEVER sell your information or share it with anyone other than the companies from which you have requested information. Please view our privacy policy.
What is Gold's gym?
Gold's Gym is the #1 fitness club in the world and one of the most recognized names in the explosive 15.9 billion dollar fitness industry. Gold's Gym has expanded its fitness profile to offer all of the latest equipment and services including, group exercise, personal training, cardiovascular equipment, spinning, Pilates and yoga, while maintaining its core weight lifting tradition. With nearly 3 million members world wide, Gold's Gym continues to change lives by helping people achieve their individual potential. Unmatched brand awareness, Ongoing support, proprietary offerings, and the most diverse, complete fitness experience available to qualified single and multi-unit developers. Gold's Gym, Change Your Body, Change Your Life.
What is Gold's Gym University?
Gold's Gym University is a 5-day, 28 class comprehensive workshop aimed at delivering efficient and modern approaches to learning and orienting new and existing franchisees to the Gold's Gym organization and all it has to offer. The University has been designed to help ensure that owners and their staff are informed and equipped with all the skills required to run a successful operation. If you have recently opened or are about to open a new Gold's Gym Franchise, these classes are a must! Knowledge is power, and Gold's Gym University will provide even the most experienced gym operators with hands-on operational knowledge to enhance business operations.
How much does a Gold's Gym franchise make?
Typically, franchise profits are proportionate to the size of investment. We can help you figure out how much money you can make by reviewing your personal situation. Please unlock this franchise for more information.
How many franchise locations do they have?
As of the 2016 Franchise Disclosure Document, there are 191 franchised Gold's Gym locations in the USA.
Do they use public figures to promote their franchise?
Yes, unlock to find out which public figure s are used to promote this franchise.
What is Gold's gym express?
Developed with today's wide spectrum of fitness needs in mind, Gold's Gym Express is designed to help people of all athletic levels achieve their goals at a great price.
How big is an Express Club?
The physical size of the Express club is generally around 15,000 sf. (compared to 40,000 sf. or more for the Full Amenity club), meaning there's much less floor space and equipment to monitor, manage, and maintain. The look and feel of the Express Club is intended to give club members the ability to quickly get in, enjoy their workout, and get back to their lives - no unnecessary delays and no waiting around for machines. The total cost of an Express Club runs around $1,200,000, depending on the actual size, and financing is available!
What is the Express Club model?
The rule of thumb of the Express Club model, designed with Gold's decades of gym management experience and lessons learned, is to keep it simple, convenient, and profitable. Offerings such as group exercise, child care, personal training and other amenities that can require larger staffs and expense -- and which are generally the biggest drags on your profitability as the gym owner -- are cut out in favor of a smaller, more accessible gym space that offers exactly the types of machines and services that today's busy fitness consumers demand.
Is Gold's Gym a franchise?
Gold's Gym is listed in the Franchise Directory under the Health & Beauty category. It's also listed in the section for Franchises Under $500,000 .
Is Gold's Gym Express Club a full amenity club?
Gold's Gym International has launched its much-anticipated Gold’s Gym Express Club, perfectly designed for the first-time fitness club owner. The Express Club Concept does not include many of the services (or the costs or space requirements) of the bigger, Full Amenity clubs.
How much does Gold's Gym cost?
In Gold’s Gym’s month-to-month membership, you can avail of their services without any commitment, in which their Start-Up Fees Per Person is $74. along with that facility, the maintenance fee is $ 39, and the Late Fee is $19.50.
What is Gold Gym?
Gold Gym is the most popular chain of fitness centers headquartered in the US and operates in various parts of the world.
Is Gold's Gym reasonable?
The Gold’s Gym Prices are reasonable considering the state-of-the- art physical fitness equipment, world-class personal trainer services, and upscale facilities that come with your Gold’s Gym Membership. If you are a fitness lover and love going through hours at the gym center for a solid body, then certainly you know about Gold’s Gym.
Is Gold's Gym worth it?
Looking at all these benefits, it can be said that, yes, Gold’s Gym is definitely worth it. 4.
Can you cancel Gold's Gym membership?
Gold’s Gym membership only has to be canceled in person; it cannot be canceled by email or phone. The best advice is to go to your nearest Gold’s Gym and talk to the gym’s manager and explain to them why you want to cancel Gold’s Gym membership and ask them how to cancel gold’s gym membership; They will make further arrangements for you.
How much does a Gold’s Gym franchise cost?
A Gold’s Gym franchise requires an estimated initial investment of between £1.7 million and £3.8 million, depending on the size and location of the site, and potential franchisees are required to have a minimum net worth of £769,000, with liquidity of £307,600.
What do franchisees get for the Gold’s Gym franchise fee?
Full support is provided to every Gold’s Gym franchise owner, including assistance with choosing a location, the design and construction of the new gym site, comprehensive training, marketing and advertising before the opening, and ongoing operational support.
How do I find a site for my Gold’s Gym UK franchise?
Gold’s Gym offers a lot of support in finding and securing the ideal site for a new Gold’s Gym franchise, and can introduce applicants to an approved national property broker, although it also encourages franchisees to use their own local broker if they prefer. Generally, the site should offer 25 to 45,000 sq ft with 17’ clear height, and have more than 50,000 people within a 10 minute driving distance.
What training is provided for Gold’s Gym franchisees?
Extensive, fully comprehensive training is provided. The franchise owner and general manager of the gym complete a five day initial training programme, which comprises 28 classes covering all the skills and operational knowledge required to run a successful Gold’s Gym franchise.
Is running a Gold’s Gym franchise a full-time job?
Yes – either for the franchisee or a general manager. The Gold’s Gym franchise agreement dictates that the franchisee must maintain complete managerial control, but a fully trained, full-time employee can manage the day-to-day running of the gym.
Does a Gold’s Gym franchise cover an exclusive territory?
Yes, once a site has been selected , an exclusive territory is created either using city boundaries or a radius from the site itself.
Why choose a Gold’s Gym franchise?
Offering comprehensive training and support to their franchisees since 1980, each Gold’s Gym UK franchise benefits from the use of the famous name, which is instantly recognisable as a trusted brand all over the world.
