How much does a Snap Fitness franchise cost?
- Initial Franchise Fee: $29,500
- Total Investment: $144,798 to $478,762
- Working Capital: $50,000
Full Answer
How much does it cost to own a Snap Fitness?
What Does a Snap Fitness Franchise Cost? To buy a franchise with Snap Fitness, you'll need to have at least $100,000 in liquid capital and a minimum net worth of $250,000.Franchisees can expect to make a total investment of $118,805 - $294,565.They also offer financing as well as a discount for veterans.
How much does Snap Fitness pay?
The average Snap Fitness salary ranges from approximately $63,137 per year for Fitness Instructor to $64,519 per year for Personal Trainer. Average Snap Fitness hourly pay ranges from approximately $26.97 per hour for Membership Sales to $74.83 per hour for Personal Trainer.
Why should you franchise with Snap Fitness?
Why Franchise With Snap Fitness . Our transformation story 15+ years of fitness innovation . Over the last 15 years, Snap Fitness has proven that innovation is the key to brand agility. Staying ahead of the latest trends in the fitness industry has given us the ability to constantly evolve our brand to provide the most rewarding fitness ...
How much does it cost to open a fitness franchise?
What Does an Anytime Fitness Franchise Cost? To buy a franchise with Anytime Fitness, you'll need to have at least $100,000 in liquid capital.Franchisees can expect to make a total investment of $94,430 - $523,824.They also offer financing via 3rd party as well as a discount for veterans (Yes - $1,000-$8,500 off franchise fee).
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How profitable is Snap Fitness?
Snap Fitness revenue is $20.0M annually. After extensive research and analysis, Zippia's data science team found the following key financial metrics. Snap Fitness has 2,615 employees, and the revenue per employee ratio is $7,648. Snap Fitness peak revenue was $20.0M in 2021.
Is owning a gym franchise profitable?
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.
How much does it cost to own 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.
Who owns Snap Fitness?
Lift Brands, Inc.Snap Fitness / Parent organization
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...
Do gyms make a lot of money?
A well-run gym with a good mix of members can generate a lot of revenue. For example, a gym with 1,000 members paying $50 per month could generate $50,000 per month in revenue. If the gym has expenses of $20,000 per month, then it would have a profit of $30,000 per month.
What is the cheapest fitness franchise to?
With the below information, you can choose the cheapest gym franchise opportunity for you.4.1 Jazzercise Inc. Initial franchise fee: $1,250. ... 4.2 GymGuyz. Initial franchise fee: $40,000. ... 4.3 9Round. Initial franchise fee: $5,000. ... 4.4 F45 Training. ... 4.5 Anytime Fitness. ... 4.6 Burn Boot Camp. ... 4.7 Snap Fitness. ... 4.8 Club Pilates.More items...
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 franchise is the most profitable?
Most Profitable FranchisesAnytime Fitness. Anytime Fitness is a popular gym brand with a low-cost investment and high revenue potential. ... McDonald's. McDonald's franchise program is one of the most established in the fast food industry. ... UPS Store. ... Jersey Mike's Subs. ... Dunkin' ... Sport Clips. ... 7-Eleven. ... Papa John's.
How many Snap Fitness locations are there?
How many Snap Fitness locations are there in the United States? There are 576 Snap Fitness locations in the United States as of September 30, 2022. The state with the most number of Snap Fitness locations in the US is Minnesota, with 81 locations, which is about 14% of all Snap Fitness locations in the US.
Who is the CEO of Snap Fitness?
Ty Menzies (Jun 1, 2020–)Snap Fitness / CEO
Is Snap Fitness owned by Snap on?
About Snap Fitness The 24-hour Snap Fitness clubs franchise concept is owned by wellness franchise organisation, Lift Brands.
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.
Is a gym a good business to start?
After a year, a successful gym will generate at least $20,000 per month. According to the AFS 2016 Marketing Best Practices Research Report, a typical small fitness center in the U.S. makes $63 per SqFt., or up to $200,000 to $300,000 per year. Larger gyms can make up to 10 times as much money.
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 LA Fitness franchise owners make?
How much does a Business Owner make at LA Fitness in the United States? Average LA Fitness Business Owner yearly pay in the United States is approximately $56,588, which is 12% below the national average.
Does Snap Fitness Work with E2 Visa and EB-5 Visa Candidates?
No. Snap Fitness franchise does not work with E2 Visa and EB-5 Visa candidates.
Is Snap Fitness a Semi Absentee Franchise with a Passive Ownership Opportunity?
Yes. Snap Fitness is a semi absentee franchise and allows passive ownership. A semi-absentee franchise is a business you could start and run while still maintaining a job or other obligation.
Does Snap Fitness have financing?
Snap Fitness provides in-house financing to qualified applicants, helping you achieve your goal of starting your own business.
Does Snap Fitness support veterans?
Snap Fitness proudly supports our troops as well as those who have previously served. With such attributes as leadership, teamwork, and a strong sense of community, we feel that veterans make ideal candidates for future franchisees.
How many sq ft is Snap Fitness?
A 3,000 sq.ft. - 6,000 sq.ft space is ideal for a Snap Fitness location, with at least a 10” ceiling height, sufficient parking space, and a natural flow of traffic.
What is Snap Fitness?
Snap Fitness is a global leader in the fitness market and we want to set your franchise up for success. We do this by reviewing the number of competing businesses, the population size and the target market size. We also determine whether entering an existing competitive market would be an advantageous proposition.
How long does it take to get in contact with Snap Fitness?
If you’re ready to join one of the fastest growing industries in the world, fill out the form and a team member will be in contact with you within the next 48 hours. In the meantime, check out some of our available locations for your Snap Fitness gym!
How does Snap Fitness evaluate sustainability?
Our internal team evaluates the sustainability of a Snap Fitness franchise in a potential location by measuring the local community’s previous fitness activity and their level of interest in fitness. We then assess the likelihood of them joining a new gym.
How many Snap Fitness locations are there?
With over 2,000 locations open or in development in 26 countries and 1.5 million members worldwide, a Snap Fitness franchise is the top choice for entrepreneurs to bring a high-quality workout experience to their communities.
What is Snap Fitness?
Snap Fitness is the fast, convenient and affordable workout alternative to traditional “big box” health clubs. They offer members no contracts, state-of-the-art workout equipment and 24/7 safe and secure access to all of our clubs worldwide. Start your business!
What is a world gym?
World Gym is an iconic, globally-recognized fitness brand in a booming industry. Invest in a World Gym Franchise and profit from a subscription-based revenue model with multiple revenue streams, backed by proven systems and A-to-Z franchisee support.
Does Snap Fitness have financing?
Additionally, Snap Fitness provides in-house financing to qualified applicants, helping you achieve your goal of starting your own business or growing your existing business.
What is Snap Fitness?
The franchise offered is a Snap Fitness club, which offers 24/7 gym access to members as well as group fitness and personal training, using advanced fitness technologies and high quality fitness equipment.
Where is Snap Fitness training?
The program is five days. Training will occur at Snap Fitness headquarters in Chanhassen, Minnesota, prior to opening. In addition to the on-site training program, additional onboard training will be provided via one-on-one phone calls and online conference calls.
What is a territory granted in Snap Fitness?
Territory Granted: When the Franchise Agreement is signed, franchisees will select a general geographic area in which they intend to operate their club (preliminary designated area). The franchisor will generally approve the franchisee’s selection unless it determines, in its sole judgment, that it may negatively affect the interest of another Snap Fitness franchisee or is otherwise unavailable for development under the franchisor’s current policies. Once franchisees have acquired a site, the franchisor will complete the Franchise Agreement to reflect the site (which will become the club’s “authorized location”) and to define the “designated area” around the authorized location. If the site franchisees acquire is within the preliminary designated area, their designated area will be substantially the same as their preliminary designated area in terms of size, shape or demographics. A minimum designated area will consist of one city block and, in suburban and rural areas, may be as large as a three-mile driving distance from the anticipated location. During the term of the agreement neither the franchisor nor its affiliates will develop or operate, or grant to anyone else the right to develop or operate, a Snap Fitness club physically located in the designated area (except for designated special sites).
What is the new club finance program?
The first, the New Club Finance Program, is a program is meant for both new Snap Fitness franchisees opening their first Snap Fitness club and existing Snap Fitness franchisees opening an additional club.
What are the obligations of a franchisee?
Obligations and Restrictions: During the term of the Franchise Agreement, franchisees (if the franchisee is an individual) or their general manager must devote full time and best efforts to the management of the club. Franchisees are expected to stay informed about the franchisor’s organizational plans, initiatives and direction by regular review of communications sent to the franchisee electronically or otherwise. Franchisees or their general manager must provide direct on-premises supervision to the club. The general manager must complete the training course. Franchisees must offer at the club all of the products, equipment and services that the franchisor periodically requires and may not offer at the club any unapproved products or use the premises for any purpose other than the operation of the club. If permitted by state and local law, franchisees must be open for business every day of the week for 24 hours.
How long does a franchise last?
Term of Agreement and Renewal: The length of the initial franchise term is 10 years. Renewal is for unlimited additional 10-year terms, if requirements are met.
How long is franchising training?
The program is five days.
How many franchise locations do they have?
As of the 2020 Franchise Disclosure Document, there are 792 franchised Snap Fitness locations in the USA.
What is franchise grade?
Franchise Grade is dedicated to providing research and education that can help you make confident franchise investment decisions.
How many hours of training does the FDD have?
Yes, they have an initial training program of 37 hours. This includes 37 hours of classroom training. In their FDD they outline who’s in charge of the training. Unlock to find out more.
