How much does a HOTWORX franchise cost?
- Initial Franchise Fee: $19,950
- Total Investment: $188,070 to $351,885
- Working Capital: $12,000 to $35,000
Full Answer
How much does it cost to open a hotworx spa franchise?
You must pay Hotworx an initial franchise fee of $12,950 for an express studio model which is 5 saunas only or $19,950 for a location with more than 5 saunas (traditional studio). These fees are non-refundable. 2.
How does hotworx make money?
Hotworx franchisor revenue in 2018 was $1.3 million and increased to $3.3 million in 2020. The revenue is from franchise fees, and vendor rebates. This shows that their profits are increasing every year this is most likely due to the increase of franchise outlets.
How much does it cost to open a 24 Hour Fitness Studio?
This franchise is for the operation of a 24-hour studio that offers hot exercise services, fitness products and other specialty items. How much does a HOTWORX franchise cost? HOTWORX has a franchise fee of up to $19,950, with a total initial investment range of $188,070 to $351,885.
How many hotworx locations are there in the USA?
As of the 2020 Franchise Disclosure Document, there are 84 franchised HOTWORX locations in the USA. Are there any HOTWORX franchise opportunities near me? Based on 2020 FDD data, HOTWORX has franchise locations in 0 states. The largest region is the West with 0 franchise locations.
How much does it cost to franchise a HOTWORX?
How many franchise locations do they have?
How do franchise profits work?
What is franchise grade?
How much do you make owning a HOTWORX?
Franchise Outlets Financial Performance RepresentationsTop ThirdBottom ThirdAverageAverageTotal Revenue$471,799.96$228,497.14Costs of Goods Sold$41,738.29$18,357.04Gross Profit$430,061.67$210,140.1025 more rows•May 5, 2022
How much does it cost to franchise a HOTWORX studio?
How much does the HotWorx franchise cost? HotWorx has a franchise fee of up to $19,950 with a total initial investment range of $188,070 to $351,885.
Who is the owner of HOTWORX?
STEPHEN P. SMITHSTEPHEN P. SMITH is the Founder of Planet Beach and HOTWORX®. He has served as Chief Executive Officer and Chairman of the Board of Directors since April 1996.
How many HOTWORX locations are there?
The brand is poised for explosive growth now with over 210 locations open and close to 300 units in the active opening pipeline, and another 490 in the early stages of development.
How much is HOTWORX a month?
just $59 per monthBecause their overhead is lower than other boutique gyms, HOTWORX is able to offer memberships at a fraction of the cost of other small-scale fitness studios. Memberships are just $59 per month and sign-up promos are often and good!
How do I get the most out of HOTWORX?
The key to training success is cross-training my friends. Use all of the numerous workouts available and never let yourself get stuck on one workout type. My workout routine consists of five weight training sessions Monday - Friday at 7:30 a.m. and 3-4 Infrared isometric workouts per week usually during my lunch break.
Is HOTWORX patented?
HOTWORX Infrared Workout Sauna is Now Patented.
Why was HOTWORX originally invented?
HOTWORX is a virtually instructed exercise program created for users to experience the many benefits of infrared heat absorption, while completing a 30-minute Isometric workout or 15-minute High Intensity Interval Training (HIIT) session.
What type of business is HOTWORX?
HOTWORX is a fitness franchise that has been considered a revolution for the industry. Instead of going to a traditional gym, customers work out with virtual instructors in a patented infrared sauna (HOTWORX®). The training (3D Training™) uses infrared heat that penetrates the body, accelerating detoxification.
Does HOTWORX have contracts?
Hot Worx Membership After three months, your membership moves month to month, but they require sixty days' notice on cancellation, so you are locked in for the first five months once you sign up.
Can you lose weight with HOTWORX?
No need to worry, this can be accomplished with just four HOTWORX® sessions because the average person burns 250–450 calories during a 30-minute infrared workout and experiences another 350–600-calorie after-burn during the 60 minutes immediately following the workout.
Can you do HOTWORX alone?
Customers enter the sauna where they close the door behind them and perform a solo workout one-on-one with the virtual instructor/trainer. This workout is completely isolated from everything and everyone in the studio. Our studio locations range in size from 5 to 10 saunas each.
Is HOTWORX patented?
HOTWORX Infrared Workout Sauna is Now Patented.
Is HOTWORX a contract?
Due to the nature of their contract, Hotworx doesn't just lock its clients in for 90 days—it actually locks them in for a bare minimum five-month financial commitment. That's because Hotworx requires a two-month notice for cancellation of membership.
What is the business HOTWORX?
HOTWORX is a virtually instructed exercise program created for users to experience the many benefits of infrared heat absorption, while completing a 30-minute Isometric workout or 15-minute High Intensity Interval Training (HIIT) session.
What type of infrared sauna does HOTWORX use?
The patented HOTWORX workout sauna utilizes an IR heater design and configuration that emits 95% far-infrared energy and 5% mid-range IR for clients during workouts. This is important for heat generation and for better absorption through the skin.
Has anyone ever been to Hotworx? Anyone know relatively how ... - reddit
UPDATE: it’s $99 start up (includes your mat and towel) and $59 a month for unlimited classes. Did my trial class and it was amazing. Didn’t even feel like a workout and since you get the room to yourself, it relieved that gym anxiety from feeling like you’re being judged.
25 Substantial Fees Every Hotworx Franchisee Needs to Know - Franchise ...
If you are considering a Hotworx franchise, don’t get blindsided by these 25 important franchise fees (from the initial franchise fee, to the royalty fee, to 23 other fees found in Items 5 and 6 of Hotworx’s 2021 FDD).
How Much Does HOTWORX Pay in 2022? (147 Salaries) | Glassdoor
A free inside look at HOTWORX salary trends based on 147 salaries wages for 42 jobs at HOTWORX. Salaries posted anonymously by HOTWORX employees.
HotWorx Franchise Cost & Fees | How To Open | Opportunities And ...
Become a member of a HOTWORX franchise community. The business offers innovative fitness programs combined with infrared heat sauna. See the HotWorx - fitness studio franchise opportunities and the investment information here.
Hotworx Franchise Cost Takes 5 Years To Recoup | (Vetted Biz)
The initial investment to run your own Hotworx . It will cost between $240k to $600k to open a Hotworx franchise. This consists of equipment such as the sauna, workout equipment, technology, and other appliances. The midpoint Hotworx franchise cost is $420,000 for 2022 including working capital for the first three months.. The equipment will cost you around $110,500 to $169,500 and there isn ...
HOTWORX Studio Franchise Costs & Fees
We created this infrared sauna workout program for people who want to flush toxins from their bodies, increase flexibility, balance, tone, and burn massive amounts of calories in the process. So whether you want to polish off your gym workout, or you’re strictly a spa-goer who wants to enhance your regime, this innovation could be a major component of your wellness program in the future.
How much money does HotWorx make in 2020?
Hotworx franchisor revenue in 2018 was $1.3 million and increased to $3.3 million in 2020. The revenue is from franchise fees, and vendor rebates. This shows that their profits are increasing every year this is most likely due to the increase of franchise outlets. But with the increase in revenue caused an increase in expenses which is $2.7 million. With this, they are losing money and there is a deficit each year.
What is the startup period for additional funds?
Additional funds during startup period, such as for first three months, initial operations, and working capital
Does HotWorx affect your earnings?
Especially for workout places like this where you need to be in-person to get the full experience Hotworx could have taken a big hit which affected their earnings.
Does Hotworx have cash?
Although Hotworx’s net income is in the negatives, they do have cash at the end of the year. In 2020, Hotworx has $1.2 million in cash which is due to investing and an increase in deferred franchise fees. This is a good sign where Hotworx has cash on hand to keep growing their business and to recover from losses such as from the pandemic.
Does HotWorx have franchises?
Hotworx offers franchises where you can own and run your workout studio.
What is the FX zone in HotWorx?
In addition to the unlimited HOTWORX sessions, your studio members receive 24-hour access to the Functional Exercise or “FX” Zone, an area for productive use of time before, after, or in between infrared workout sessions.
What is the FX zone?
In addition to the unlimited HOTWORX sessions, your studio members receive 24-hour access to the Functional Exercise or “FX” Zone, an area for productive use of time before, after, or in between infrared workout sessions.
How long is a HIIT session?
A certified Virtual Instructor guides users through each 15-minut e High Intensity Interval Training (HIIT) session and 30-minute Isometric workout, providing a consistent workout experience that our franchisees and members can depend on!
ARE YOU THE NEXT HOTWORX FRANCHISEE?
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How long does it take to start a hotworx business?
Hotworx estimates the start-up phase to be 3 months from the date you open for business.
Do all studios have to have the minimum equipment mix?
All studios are required to have the minimum required equipment mix.
Does HotWorx have additional expenses?
These figures are estimates, and Hotworx cannot assure you that you will not have additional expenses. Your actual costs will depend on factors like your management skills, experience, and business acumen. You should base your estimated start-up expenses on the anticipated costs in your market and consider whether you will need additional cash reserves.
Do you have to purchase wholesale hotworx?
You will be required to purchase a specified amount of wholesale goods for the initial inventory of products to be offered for sale based on the size of your studio. A selection of Hotworx’s proprietary branded products and other branded products must be stocked.
Does HotWorx cover flood contents?
Flood contents coverage is highly recommended but not required by Hotworx.
Can HotWorx reject a lease?
Hotworx reserves the right to reject proposed lease sites if the estimated build out exceeds the stated estimate.
How much does it cost to buy HotWorx equipment?
Equipment costs are nonrefundable. The cost to buy this equipment ranges from $84,650 to $133,600 depending on the number of saunas located at your studio.
How much does it cost to transfer a franchise to another DMA?
Should franchisee elect to transfer license to another DMA or development area, then a $5,000 transfer fee will be assessed.
What is included in the fee for a conference?
Fee includes registration for 2 attendees. It does not include cost of travel, lodging, food, or entertainment.
When do you need to purchase additional licenses for a single unit franchise?
To be eligible for this arrangement, you must purchase the additional licenses when you execute the first Single Unit Franchise Agreement.
Does HotWorx charge a franchise fee?
When franchisee uses a credit card for purchases from Hotworx or its affiliates, Hotworx or its affiliates will charge franchisee a credit card processing fee.
Does HotWorx have an area development agreement?
Upon execution of a Franchise Agreement, Hotworx may elect to sign an Area Development Agreement with certain candidates. Franchisees with multiple options are required to adhere to a strict development schedule.
Does HotWorx include travel?
This fee is applicable when franchisee requests Hotworx to provide additional on-site training. This fee does not include travel, hotel, and per diem expenses for which you are also responsible.
Overview
You'll need $1,000 in liquid capital to open a HOTWORX. The company began expanding via franchising in 1970.
Related
HOTWORX is listed in the Franchise Directory under the Health & Beauty category and the Fitness category. It's also listed in the section for Franchises Under $10,000 .
How much does it cost to franchise a HOTWORX?
HOTWORX has a franchise fee of up to $19,950, with a total initial investment range of $188,070 to $351,885. The initial cost of a franchise includes several fees -- Unlock this franchise to better understand the costs such as training and territory fees.
How many franchise locations do they have?
As of the 2020 Franchise Disclosure Document, there are 84 franchised HOTWORX locations in the USA.
How do franchise profits work?
Franchise profits depend on a number of variables, including local demand for your product, labor costs, commercial lease rates and several other factors. 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.
What is franchise grade?
Franchise Grade is dedicated to providing research and education that can help you make confident franchise investment decisions.
