How to open a Snap Fitness franchise?
- Ensure you have adequate capitalization. In order to open a Snap Fitness fitness club franchise, you must have a net worth of more than $250,000.
- Appreciate the investment required for a gym franchise. ...
- Evaluate your prior experience and strengths. ...
- Assess market availability. ...
- Submit your application. ...
- Receive approval & opening your Snap Fitness franchise. ...
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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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 money do you need 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). Of course, some brands are less expensive than others. Ditto for some locations.
Is snap a franchise?
Brand Mission Snap Fitness is a world leader in the fitness franchising space. Part of the Lift Brands family, we are the world's leading wellness organisation and our mission is to deliver the most rewarding fitness experience in the world.
Who owns Snap Fitness?
Lift Brands, Inc.Snap Fitness / Parent organization
What is the most profitable fitness franchise?
The Top Gym and Fitness Franchises of 2022Jazzercise. Jazzercise is the kind of fitness franchise that has been around long enough that you might think it must be woefully out of date, but you'd be wrong. ... Anytime Fitness. ... Planet Fitness. ... F45 Training. ... Orangetheory Fitness. ... Snap Fitness. ... 9Round. ... Club Pilates.More items...•
What is the most profitable franchise?
Most Profitable FranchisesDunkin'7-Eleven.Planet Fitness.JAN-PRO.Taco Bell.Orangetheory Fitness.Great Clips.Mac Tools.More items...•
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
How many members does Snap Fitness have in Australia?
The Snap Fitness Customer Snap Fitness has over 230,000 members across Australia and New Zealand, and their clubs traditionally attract everyday health and fitness conscious people. Snap Fitness is for everyone – from the beginner to the advanced athlete.
Who owns Snap Fitness UK?
Lift BrandsSnap Fitness is owned and operated by wellness franchise organisation, Lift Brands. Since 2003 we have built a global network of 1,000+ Snap Fitness clubs in 20+ countries with more than a million members.
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.
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.
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 franchise 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.
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 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.
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 2,000 locations open or in development in 18 countries and more than a million members worldwide, a Snap Fitness franchise is the top choice for entrepreneurs to bring a high-quality workout experience to their communities.
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.
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.
Does Snap Fitness have financing?
Snap Fitness provides in-house financing to qualified applicants, helping you achieve your goal of starting your own business.
When did Snap Fitness start franchising?
Taunton's vision for Snap Fitness was to offer patrons a convenient and affordable place to work out 24 hours a day. The company began franchising in 2004, and is currently expanding globally.
What is franchise investment?
Definition: The total amount necessary to begin operation of the franchise. What you need to know: The initial investment includes the franchise fee, along with other startup expenses such as real estate, equipment, supplies, business licenses, and working capital.
What is franchise fee?
What you need to know: Found in Item 5 of the FDD, this may be a flat fee, or may vary based on territory size, experience, or other factors.The franchise fee is an up-front (one-time) cost that a new franchisee pays to the franchisor.
How long is a franchise agreement?
10 years. Definition: The length of time your franchise agreement will last. What you need to know: Franchise terms are typically anywhere from 5 to 20 years in length, but are sometimes instead dependent on factors such as the term of your lease.
Do franchisors have in-house financing?
Some franchisors offer in-house financing, while others have relationships with third-party financing sources to which they refer qualified franchisees.
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.
How does the franchise model work?
Lift Brands prides itself on keeping ahead of the curve when it comes to the latest fitness trends, thus offering franchisees the chance to benefit from a unique selling proposition in a competitive market by leveraging its proven franchise business opportunity.
What Snap Fitness franchises are currently for sale in the UK?
There are franchise opportunities available throughout the UK. The company has a UK-based team dedicated to supporting UK franchise owners and a robust franchise business model.
What support does Snap Fitness offer its franchisees?
The company’s experienced team is focused on working with the right partners to continue to develop the brand in the right way. Whether you’re looking to be an owner-investor or an owner-manager, it has a robust, world-class support system in place from the very start.
What are the franchise’s terms of agreement and renewal?
The initial term of the Snap Fitness franchise agreement is five years. After this time, the successful business owner can renew the agreement for additional five-year periods.
What do Snap Fitness’ franchises say about the brand?
Ambitious, service-oriented franchisees have often found that owning a Snap Fitness is a highly positive investment and a great way to create a rewarding and profitable business.
How can I get started on setting up my own Snap Fitness business?
To find out more about starting a gym franchise with Snap Fitness, you can begin the simple process by completing the online form on this page to receive further information.
How many square metres are there in Snap Fitness?
Snap Fitness clubs are located in high visibility, high foot traffic locations with 400 to 1,000 square metres of space and spaces for car parking. Multi-unit development opportunities are available, enabling the successful franchise owner to become a multi club owner.
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.
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.
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.
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.
