Owning a gym franchise can be profitable – the average Crunch franchise for example generates over $500k annual profit. You may be ‘in the red’ for the first year as you strive to recoup the initial investment, but many fitness franchises are profitable from year 2. However, opting for a franchise doesn’t guarantee profitability.
How much does a gym franchise make?
How much royalty does a gym franchise have?
What is franchising a gym?
What happens when you join a gym franchise?
What is the most reputable gym brand?
What is a fitness studio?
How to get a gym license?
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How profitable is it to own a gym?
Market research across the USA shows that a gym owner of a medium-sized gym could earn around $150,000 per year. The general setup costs for a medium-sized gym is around $100,000. But your profits for the first financial year could be as little as $50,000.
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.
What is the most profitable fitness franchise?
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...•
Are Planet Fitness franchises 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 do gym 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.
Is it good to invest in a gym?
There has never been a better time to get a gym investment and investing in the healthy industry. More and more people are following a healthy diet and fitness regime in order to live a longer and happier life, creating a large target market to whom you can market your fitness franchise.
Is owning an Anytime Fitness profitable?
How much do Anytime Fitness Franchises Make? The average revenue across the 1,103 Anytime Fitness centers that implemented the Training Suite for the year ending December 31, 2021, is below. The average Anytime Fitness reported $384,958 in annual revenue.
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 do I start my own gym business?
A Concise Guide To Opening And Securing A Gym In 2022Find Your Niche! ... Get Training And Become Accredited. ... Find Out About Gym Licenses And Permits. ... Become Versed In Post-COVID Best Practices. ... Secure Financing For Your Venture. ... Find A Good Location. ... Invest In Quality Equipment. ... Interview And Hire Staff.More items...
How much money do you need to open 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 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.
What are the financial requirements for a potential franchisee?
Before being considered for the franchise investment, you might have to prove that you have a net worth of $100,000 or some other amount. Some large franchises require even larger net worth — into the range of $300,000 or more.
Is Anytime Fitness franchise profitable?
How much do Anytime Fitness Franchises Make? The average revenue across the 1,103 Anytime Fitness centers that implemented the Training Suite for the year ending December 31, 2021, is below. The average Anytime Fitness reported $384,958 in annual revenue.
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 do I start my own gym business?
A Concise Guide To Opening And Securing A Gym In 2022Find Your Niche! ... Get Training And Become Accredited. ... Find Out About Gym Licenses And Permits. ... Become Versed In Post-COVID Best Practices. ... Secure Financing For Your Venture. ... Find A Good Location. ... Invest In Quality Equipment. ... Interview And Hire Staff.More items...
How do I start a gym chain?
Step by Step Guide on How to Own a Gym in India?Decide on a Business Model.Making a Decision About the Location.The Cost of Owning a Gym.Obtain the Necessary Permits.Incentives for Members.Fitness Center Franchise.
Estimated Cost of Opening a Gym & Fitness Center in 2022
Cost of Buying a Gym Franchise – $80,000. In the United States of America, the Average Cost of Purchasing a Gym Franchise is $80,000. Examples of 3 Well – Known Gym Franchising Companies in the United States of America are;. Anytime Fitness – 2,000 Locations, Est. 2003; Life Time Fitness – 109 Locations, Est. 1992
How to Start a Gym Business With No Money in 2022 - ProfitableVenture
Do you want to start a gym house or fitness center? If YES, here is a 15-step guide on how to start a profitable gym business with no money and no experience
How much does a gym franchise make?
Conversely, a gym franchise might only make $100K a year if it’s a small gym in a small town.
How much royalty does a gym franchise have?
This cut is usually a fixed or a progressive fee on the gross profits, depending on the franchise. Most franchises have 5-10% royalty cuts, but some can be lower, and some are higher. If the franchise company uses a progressive scale, you’ll have to pay more as your gym gets successful.
What is franchising a gym?
Gym franchisors give you their business blueprints and show you how to build a fitness business from scratch. They’ll actively help you during the initial stages. This assistance is to help you develop a gym that meets their standards and to decrease your risk of failure.
What happens when you join a gym franchise?
When you join a franchise, you automatically become part of a more extensive network. Many franchises have hundreds of gyms throughout the country. The gym chain can put you in touch with other franchises in your state, which can give you insight into the local market and how to thrive there.
What is the most reputable gym brand?
Brands such as “Gold’s Gym” and “Planet Fitness” have a strong brand following, and these brands are the most reputable gym brands in the world. Fitness enthusiasts are actively looking for the branches of brand gyms in their city.
What is a fitness studio?
A fitness studio software is essential to manage and operate your gym. The franchise will provide you with the best in class gym management software and have the software set-up to manage and run your gym seamlessly.
How to get a gym license?
You’ll have to hire a lawyer to help you deal with the city administration and gain permits for the gym. The licenses issue at the local level and the mayor’s office can help you get a license for your gym as a commercial entity.
How much money did gyms make in 2018?
Franchises take up a significant part of that market, with 9,582 of those 38,000 clubs. They accounted for $4 billion of gym, health, and fitness clubs’ $34 billion revenues in 2018. These franchises were doing so well that we had to expand our list from 25 to 33 of the best fitness franchises.
How much did the fitness industry lose in 2020?
As a result, the gym, health, and fitness clubs industry has survived the pandemic, though its revenues fell by an estimated 13.2% in 2020. Franchised gyms and fitness clubs saw a slightly slower decline of 11.2% in 2020. The industry hasn’t suffered as much as arts and entertainment, but it has seen tough times.
How many gyms will be there in 2020?
Going into 2020, there were over 38,000 clubs across the country and the industry had an annual growth rate of 6.7%.
What is crunch fitness?
Crunch Fitness is the place to go for people who want edgy, off-the-wall offerings that include Electro Stretch, Twerkout, Badass Bootcamp, Hip-Hop Aerobics, Co-Ed Action Wrestling, and Cyked Yoga Cycling. Their workouts fuse fitness and entertainment in order to make serious exercise fun. Keeping up a constant flow of new “wow” workouts isn’t easy, but Crunch manages to keep it going. And it was recently sold to TPG Growth, the middle market and growth platform of alternative asset firm TPG.
What is the name of the company that owns Basecamp Fitness?
2. Anytime Fitness. Anytime Fitness is a subsidiary of Self Esteem Brands, its parent company which owns a variety of related franchises such as Basecamp Fitness, Pumpone, Waxing the City, and Healthy Contributions. Anytime’s claim to fame is how members get 24/7 access to any of its 4,000+ locations around the world.
What is Gold's gym?
Gold’s is a full-service gym with all kinds of training equipment, group fitness, personal training, locker room services, a kids’ club, and a pro shop with clothing, accessories, drinks, bars, supplements, nutritional products, and other items.
Is 2021 a good year for gyms?
While 2021 is unlikely to be as good a year for gyms as 2019, safe and effective COVID vaccines, well-developed anti-COVID measures, the addition of online classes, and a gradual return to normality will allow gyms and fitness franchises to pull back from a very tough year.
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 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 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.
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 are royalties calculated for Anytime Fitness?
Royalty fees and advertising fees are generally calculated as a percentage of gross sales in franchise agreements, but Anytime Fitness’ rates are flat from month to month, which makes it easier for you to plan and organize your expenses. They’ll provide you with a personal support team, comprehensive training, and marketing support over the course of your franchise agreement’s six-year term (or 10, if you’re in California).
How much does a gym franchise make?
Conversely, a gym franchise might only make $100K a year if it’s a small gym in a small town.
How much royalty does a gym franchise have?
This cut is usually a fixed or a progressive fee on the gross profits, depending on the franchise. Most franchises have 5-10% royalty cuts, but some can be lower, and some are higher. If the franchise company uses a progressive scale, you’ll have to pay more as your gym gets successful.
What is franchising a gym?
Gym franchisors give you their business blueprints and show you how to build a fitness business from scratch. They’ll actively help you during the initial stages. This assistance is to help you develop a gym that meets their standards and to decrease your risk of failure.
What happens when you join a gym franchise?
When you join a franchise, you automatically become part of a more extensive network. Many franchises have hundreds of gyms throughout the country. The gym chain can put you in touch with other franchises in your state, which can give you insight into the local market and how to thrive there.
What is the most reputable gym brand?
Brands such as “Gold’s Gym” and “Planet Fitness” have a strong brand following, and these brands are the most reputable gym brands in the world. Fitness enthusiasts are actively looking for the branches of brand gyms in their city.
What is a fitness studio?
A fitness studio software is essential to manage and operate your gym. The franchise will provide you with the best in class gym management software and have the software set-up to manage and run your gym seamlessly.
How to get a gym license?
You’ll have to hire a lawyer to help you deal with the city administration and gain permits for the gym. The licenses issue at the local level and the mayor’s office can help you get a license for your gym as a commercial entity.
