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.
What makes a successful gym franchise?
Good franchises have systems in place to receive feedback from members as well as do extensive research to help identify opportunities for delighting customers. This is makes a fitness club a true personalized experience.
What to consider before buying a franchise?
What to Consider Before Buying a Franchise
- Make Sure Your Family is On Board. Owning a franchise—or a business of any kind—is truly a family affair. ...
- Count Your Cash. ...
- Reach Out to Other Franchisees. ...
- Do Some Soul Searching. ...
- Test the Product. ...
- Understand What You’re Getting Into. ...
- Talk to a Franchise Consultant. ...
- Come Up With an Exit Strategy. ...
- Consult With Franchise Experts. ...
- Do Your Due Diligence. ...
How to open up a gym franchise?
Start a gym by following these 10 steps:
- Plan your Gym
- Form your Gym into a Legal Entity
- Register your Gym for Taxes
- Open a Business Bank Account & Credit Card
- Set up Accounting for your Gym
- Get the Necessary Permits & Licenses for your Gym
- Get Gym Insurance
- Define your Gym Brand
- Create your Gym Website
- Set up your Business Phone System
How much does it cost to start a jazzercise franchise?
How much does it cost to start a special strong gym?
How to find the best fit for a gym?
What to do when your clients are exercising?
Should gym employees be friendly?
Do franchisees need proof of insurance?
Is a gym franchise a good investment?
See 2 more
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 a franchise gym cost?
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.
Which gym franchise is most profitable?
If you want to research the top fitness franchises, here's who made the Top 10 list in Entrepreneur's Franchise 500 for 2022:Crunch. ... Anytime Fitness. ... Burn Boot Camp. ... Club Pilates. ... The Exercise Coach. ... Pure Barre. ... 30 Minute Hit. Entrepreneur Franchise 500 Rank: 351st ... SPENGA. Entrepreneur Franchise 500 Rank: 380thMore items...•
Do gyms make money?
Yes, gyms make money from membership fees, but that's just the beginning. Classes, personal training sessions, and merchandising also play a part. Check out this guide to learn how gyms make money.
Is it hard to own a gym?
The fitness industry has become hyper-competitive and becoming a successful gym owner is getting harder and harder. In fact, while there is massive potential in owning a fitness business, 8 out of 10 of them will fail in their first year.
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...
Is owning a Planet Fitness profitable?
Planet Fitness is a profitable business for the franchisor, with retained earnings of $210 million in 2021. Compared to $145 million in 2020, they saw an increase of 44% from 2020 to 2021. This is a good indication of high growth as a company overall.
What is the most profitable franchise to own in 2022?
Most Profitable FranchisesDunkin'7-Eleven.Planet Fitness.JAN-PRO.Taco Bell.Orangetheory Fitness.Great Clips.Mac Tools.More items...•
How much can you make owning an Anytime Fitness?
The average Anytime Fitness reported $384,958 in annual revenue. Revenue can be broken down into three main streams: membership revenue, which makes up a substantial portion of revenue; personal training revenue; and pay-per-visit revenue.
Where do gyms make the most money?
Gyms make most of their money through recurring membership fees. However, smart owners will implement new revenue streams like personal training, branded merchandise, premium amenities, and more to make owning a gym more profitable.
What is the toughest thing about being a gym owner?
Main Challenges Faced by Gym Owner:Finance Management: Managing finances is one of the most common problems that gym owners face. ... Staff Dealing: The next problem that gym owners face is dealing with staff. ... Lack of Client Base: Building a successful business is not easy. ... Keep Members Happy: ... Get a Good Location for Gym:
How 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.
Is owning a Planet Fitness profitable?
Planet Fitness is a profitable business for the franchisor, with retained earnings of $210 million in 2021. Compared to $145 million in 2020, they saw an increase of 44% from 2020 to 2021. This is a good indication of high growth as a company overall.
How much does it cost to start a F45?
The cost to start a F45 Franchise will include the following: Total Investment: The total investment necessary to begin operation of a “F45 Franchise” franchise ranges from $227,000 – $312,000. Initial Fees: Initial franchise fee: $50,000.
How much does it cost to buy a Gold's gym franchise?
Currently $500 per person per session, but could increase if the franchisor's costs increase....BFT (Body Fit Training)Name of FeeLowHighInitial Franchise Fee$40,000$40,000Travel and Living Expenses During Training$4,000$7,0003 Months' Rent$30,000$255,000Security Deposit for Lease$12,000$150,00010 more rows
How does gym franchise work?
A franchisor chooses to sell the rights to use their company's name, trademarks and business models to independent operators known as franchisees. Typically, there is a one-off fee to use that company's trademarks and an ongoing percentage of revenue to become a franchisee.
How much does it cost to start a jazzercise franchise?
Investment costs will vary depending on the company you choose. Franchises like Jazzercise have an initial fee as low as $1250. This number seems incredibly low because you don’t need an actual gym or equipment to start this particular franchise, as it relies primarily on the instructor qualifications.
How much does it cost to start a special strong gym?
Average startup costs for gym franchises range from $250,000 to $500,000, while Special Strong startup costs range from just $25,000 to $50,000.
How to find the best fit for a gym?
To find the best fit, make sure you are on par with the brand you choose and its values. Some gyms may prioritize certain things like a fun and inclusive brand culture, while others may highlight endurance and high-intensity workouts.
What to do when your clients are exercising?
WiFi and cable: Make sure your clients always have an option for entertainment while they are exercising!
Should gym employees be friendly?
Not only should your employees be friendly ; they should also be skilled, knowledgeable and supportive of the clientele. Gyms can be a vulnerable place for people, so kindness and encouragement goes a long way.
Do franchisees need proof of insurance?
Proof of insurance: All franchisees are required to attain and submit proof of insurance, including Special Strong.
Is a gym franchise a good investment?
Since gym franchises can be a large investment , it’s important to make sure your values are reflected in your business. Refer to the table below for several notable gym franchises, including some of the most popular companies, and their brand values:
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 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 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.
How many Orangetheory studios are there?
Currently, the Orangetheory franchise has over 1,100 studios in 49 U.S. states and 22 countries internationally (they started in 2010, for some context about just how quickly they’re growing). As an Orangetheory franchisee, you’ll be responsible for a monthly royalty fee of 8% of gross sales.
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 much does it cost to start a gym franchise?
The total cost of a gym franchise varies by brand, but you should expect to pay anywhere from $45,000 to $330,000 to get started. Common starting costs include:
How much does a gym need to be for a security deposit?
Most commercial spaces require a security deposit of three months’ rent.
What gym equipment does my fitness center need?
As a gym owner, you’ll no doubt be well aware of the equipment needs of your business. The good news is that there are finance options available to help you purchase all the essential items that any successful gym needs, including:
What to do before investing in a franchise?
Before you invest in a franchise, do some research on the company. What are the opinions of people in online forums? There’s no point buying into a franchise that has a terrible reputation among consumers and former employees.
Is gym a franchise?
Bottom line. Gyms are a booming business across the US and can be a solid franchise option for people looking to get into the industry or expand their current options. The total investment cost vary, but you have a range of loan options available to help you fund your venture.
Is gym membership increasing during recession?
Gyms have seen a steady increase in membership — even during the recession. American’s interest in a healthy lifestyle has only continued to grow, resulting in a search for the place to work out. If you’re interested in starting your own business but aren’t sure how to find financing, a franchise can be a great place to start.
Can a lender extend a gym loan?
A lender wants to know that you’re capable of running a gym before extending a loan. You’ll have to meet a few basic qualifications in order to apply.
How much does a gym franchise cost?
Typical gym franchise fees are between $50,000 and $70,000. Fitout and purchasing equipment. The cost of a gym fit-out can range from $50,000 to $300,000 depending on your chosen location. Equipment is also a significant cost to consider but will vary greatly depending on the fitness experience the franchise provides and the size of your gym.
How long does it take to setup a gym franchise?
Gym franchises will have various setup times ranging from around one month to up to six. This does not include your own research time and can be affected by choosing a location, negotiating rental terms, etc. Competition. Once your location is settled you need to investigate the competition in the area.
How much is Australia's fitness industry worth?
Australia's fitness industry is worth about $2 billion and there are lots of heavy-hitting franchises in the market. From 24-hour gyms such as Anytime Fitness, Jetts and Plus Fitness, the more tailored gym options such as Fernwood or your gym staples such as Fitness First, you'll be able to find a gym franchise that suits your budget and needs.
How long does it take to set up a gym?
Setup time. Gym franchises will have various setup times ranging from around one month to up to six. This does not include your own research time and can be affected by choosing a location, negotiating rental terms, etc.
How much does it cost 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).
How much does it cost to start a gym franchise?
Besides the initial fee you'll pay to join the franchise, a gym requires a great deal of equipment, as well as a large commercial space.
What are the pros and cons of owning a gym?
Pros of owning a gym franchise 1 Brand recognition: Franchises are well-known brands with a history of success. This makes finding members a cinch—there's already a built-in customer base. Plus, the franchisor will likely handle marketing for the entire franchise. 2 Training and ongoing support: If you've never owned a business before, there will be lots of things to learn. With a franchise, you'll have the ongoing support of your franchisor to walk you through every step of the process. 3 Higher profits: Franchises typically see higher profits than non-franchise businesses, as there is a loyal customer base and formula for success. While the initial investment to open a gym franchise can be high, you'll likely turn a profit more quickly.
What is a FDD in franchising?
If you move along in the application process, the franchisor will share their franchise agreement, which includes the franchise disclosure document (FDD). Both you and your business attorney should review this document carefully, as it will lay out exactly what both you and the franchisor are responsible for over the course of your business relationship. If all looks good, you're ready to sign and officially join the franchise family.
What should be included in a gym franchise plan?
There are some key points you want to make sure your business plan hits, including a market analysis of competition in the area and the need that your gym franchise will fill that's currently not being filled by competitors. You should also include other information like expected costs, how many people you expect to hire, what your role in the franchise will be, financial projections about how long until you expect to turn a profit and more.
How many hours does a gym open?
Remember, gyms typically have long hours—some are open 24 hours a day—so they're open when their customers want to work out.
What is the best location for a gym?
An easily accessible and convenient location for your gym is crucial. For most gym-goers, close to home or work is best. As to figuring out what constitutes “convenient” for your target membership, it all starts with studying the data available to you.
How much does Planet Fitness franchise cost?
Planet Fitness has the franchise fee of up to $20,000, with total initial investment from $969,600.
How much money do you need to open a Planet Fitness franchise?
In order to open a Planet Fitness franchise, you must have a net worth of more than $3,000,000. Appreciate the investment required for a fitness club franchise. You will need to consider building and real estate costs, the cost of equipment and signs, the costs of licenses and permits, the cost of uniforms, the cost of insurance, etc.
What is a planet fitness franchise?
Planet Fitness franchise is one of the largest fitness US chains by a number of members and locations. They provide an affordable, high-quality fitness experience in a welcoming environment. Planet Fitness franchise opportunities are proven by 1,500 clubs successfully operating worldwide. If you are thinking about how to open a Planet Fitness ...
How much is the area development fee?
If you acquire rights under our Area Development program, you will pay an Area Development Fee equal to $10,000 per location to be developed under the Area Development Agreement when you sign the Area Development Agreement. The Area Development Fee is uniform and non-refundable. The Area Development Fee is in addition to the then-current Initial Franchise Fee due for each location at the time the Franchise Agreement for that location is executed.
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 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.
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 much liquid capital do you need to invest in a company?
Interested parties should have at least $100,000 in liquid capital to invest.
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 many locations does Gold's Gym have?
Over the last 55 years, Gold’s Gym has developed into a global brand with over 600 locations spanning 6 continents. Bodybuilding greats such as Arnold Schwarzenegger, Lou Ferrigno and Franco Columbu worked out at the original Gold’s Gym, which went on to become the most legendary gym in the world.
Who worked at Gold's Gym?
Bodybuilding greats such as Arnold Schwarzenegger, Lou Ferrigno and Franco Columbu worked out at the original Gold’s Gym, which went on to become the most legendary gym in the world. In the fitness industry, the brand enjoys cult status and universal appeal with 96% aided brand awareness.
How much does it cost to start a jazzercise franchise?
Investment costs will vary depending on the company you choose. Franchises like Jazzercise have an initial fee as low as $1250. This number seems incredibly low because you don’t need an actual gym or equipment to start this particular franchise, as it relies primarily on the instructor qualifications.
How much does it cost to start a special strong gym?
Average startup costs for gym franchises range from $250,000 to $500,000, while Special Strong startup costs range from just $25,000 to $50,000.
How to find the best fit for a gym?
To find the best fit, make sure you are on par with the brand you choose and its values. Some gyms may prioritize certain things like a fun and inclusive brand culture, while others may highlight endurance and high-intensity workouts.
What to do when your clients are exercising?
WiFi and cable: Make sure your clients always have an option for entertainment while they are exercising!
Should gym employees be friendly?
Not only should your employees be friendly ; they should also be skilled, knowledgeable and supportive of the clientele. Gyms can be a vulnerable place for people, so kindness and encouragement goes a long way.
Do franchisees need proof of insurance?
Proof of insurance: All franchisees are required to attain and submit proof of insurance, including Special Strong.
Is a gym franchise a good investment?
Since gym franchises can be a large investment , it’s important to make sure your values are reflected in your business. Refer to the table below for several notable gym franchises, including some of the most popular companies, and their brand values:
