How much do Golds gym franchise owners earn?
The average Gold's Gym Salary for Manager Owners is $123,230 per year. Subsequently, question is, what is the fees of Gold Gym? Business Alliance, Inc. $5.00 per month per Gold's AMP member. Not currently charged, but if implemented, approximately $99 per month (subject to increase). In this manner, how much do gym franchise owners make?
How expensive is Golds Gym membership?
The average price of Gold’s gym membership fees ranges from $49-$59 per month, but some locations may charge more or less than this depending on what type of amenities they offer with your package deal (e.g., personal trainer).
How much does Gold's Gym pay in US?
Tell us about you and get an estimated calculation of how much you should be earning and insight into your career options. How much does Gold's Gym in the United States pay? Average Gold's Gym hourly pay ranges from approximately $7.25 per hour for Trainer to $27.43 per hour for Fitness Instructor.
What are the benefits of a gold's gym membership?
A list of Gold's gym membership benefits:
- Personal training sessions
- Group exercise classes
- Shower and locker facilities
- Child care services
- Sauna and steam room
- Fitness equipment [which varies by location]
- Free guest passes [which also varies by location]
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What company owns Golds Gym?
RSG Group GmbHGold's Gym / Parent organization
How much is it to franchise a Gold's Gym?
If franchisees participate in one or both optional studio programs, additional training will be required....Rumble Boxing.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
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.
What gyms can be franchise?
The 9 best gym franchise opportunities in 2022Anytime Fitness. Anytime Fitness is known for its 24/7 gym access at affordable prices. ... Planet Fitness. ... Gold's Gym. ... Crunch Fitness. ... Snap Fitness. ... Burn Boot Camp. ... UFC Gym. ... Workout Anytime.More items...•
How much does it cost to open 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.
Is Gold's Gym profitable?
Gold's Gym ranked No. 8 on Club Industry's 2019 Top 100 Clubs list with 2018 revenue from corporate-owned clubs and franchisee fees of $302 million. Its full franchise revenue (including revenue from individual franchisees) was reported by the company as $872 million in 2018.
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...•
What does the average gym owner make?
$73,905 a yearHow much does a Gym Owner make in California? As of Sep 24, 2022, the average annual pay for a Gym Owner in California is $73,905 a year. Just in case you need a simple salary calculator, that works out to be approximately $35.53 an hour. This is the equivalent of $1,421/week or $6,158/month.
What is the most profitable franchise?
Top 14 Most Profitable FranchisesMcDonald's. Units in operation: 39,360. ... Dunkin Donuts. Units in operation: 12,800. ... Taco Bell. Units in operation 12,800. ... Subway Franchise. Offers Financing: Yes. ... Anytime Fitness Franchise. Units in operation: 4,904. ... Sonic. Royalty: 2.5% - 5.0% ... Planet Fitness. Royalty 7.0% ... Orangetheory Fitness.More items...
What is the largest gym chain in the US?
24 Hour Fitness is the largest privately held fitness chain. Its 400+ clubs can be found in 17 states (as well as Asia as “California Fitness” clubs).
Is a gym a profitable business?
For example, in our 2021 study we found that 85.3 percent of the gyms that spend over $20,000 a month are profitable, while only 65.7 percent of gyms that spend at least $6,503 turn a profit.
Are gyms franchised?
There are tons of gym franchises seeking new location owners, but this list represents nine of the most promising gym franchises on the market right now—based mainly on name recognition, growth rate, and franchisor support system.
Is LA Fitness a franchise?
No, LA Fitness is not a franchise. Each location is corporate owned and operated.
How much does it cost to open a Gold Gym franchise in India?
- Rs. 2 Cr. Franchise/Brand Fee: Rs. 1000000.
Who is the owner of Gold Gym India?
Mr. Nikhil Kakkar journey so far, from a person selling medicines to making the country fit by making Gold's Gym the leader in India in the fitness industry, has been a fascinating one. Leading him to travel to more than 150 cities globally and look at fitness as a way of life. Mr.
How many UFC Gym locations are there?
Train Different in 150+ locations around the world — and counting!
What is Gold's Gym?
Gold’s Gym is the most recognized name in fitness & the largest co-ed gym chain in the world. We’ve got 50 years of history behind us and a very bright future ahead of us. No other gym concept can rival the global brand strength of Gold’s Gym.
How many countries does Gold's Gym have?
Gold's Gym has become the largest co-ed gym chain in the world with over 700+ clubs in 27 countries, across 6 continents serving more than 2 million customers.. Gold’s Gym India started in the year 2002 in Mumbai. The Year 2019 marked the 17th Anniversary of Gold’s Gym India.
Background
The fitness industry is a booming business that allows franchise owners to help people reach their fitness goals, and make a good living simultaneously. The Gold's Gym franchise is one of the industry's leader's with a 96% brand recognition. It was founded in 1965 and began franchising in 1980.
Support and Training Offered By Gold's Gym
In terms of support and training, the franchise owner can expect help from the franchise in terms of site construction and design, national marketing and PR campaigns, and more. In terms of ongoing support, the franchise's Field Business Consultants will there for you when you need it.
Franchises Similar to Gold's Gym
The International Franchise Professionals Group (IFPG) is an internationally recognized membership-based franchise organization. IFPG Franchise Consultants guide aspiring business owners through the process of identifying and investing in franchise businesses. The IFPG represents more than 550 franchises.
What is a Gold Gym franchise?
Franchise Description: The franchisor is Gold’s Gym Franchise LLC. The franchisor’s parent company is RSG Group USA Inc. The franchisor grants franchises for health clubs which are primarily identified by the marks and use the franchise system. Gold’s Gym facilities will offer a full array of amenities, products and services to members. Currently, all new Gold’s Gym facilities must offer cardio training equipment, resistance training equipment, group fitness, personal training and locker room services, a kids’ club, and must have a “pro shop” including sales of clothing, accessories, drinks, bars, supplements, nutritional products and other items. (However, the franchisor may elect to waive some of these requirements if the Gold Gym facility is to be located in certain large, urban locations, such as Manhattan, New York.) New Gold’s Gym facilities also may offer other optional amenities, products and services that the franchisor currently authorizes, like cardio cinema, basketball, racquet and other courts, smoothie bars and juice bars.
How long is franchise training?
Currently, initial training consists of approximately 30 hours of classroom training and five hours of on-the-job training at the franchisor’s location in Dallas, Texas. If franchisees participate in one or more optional studio programs, additional training will be required. During the Franchise Agreement’s term, the franchisor may require franchisees and/or their personnel, including newly-hired managers and previously-trained and experienced employees at the facility, to attend and satisfactorily complete various training courses and programs that the franchisor chooses to provide periodically at the times and locations it designates. The franchisor also may require franchisees to conduct periodic training for facility personnel using the formats and procedures that it periodically specifies. Franchisees (or, if they are a business entity, one of their owners) or the facility’s general manager must attend each annual convention that the franchisor (at its sole option) organizes for Gold’s Gym facility operators.
What are the obligations of a franchisor?
Obligations and Restrictions: The franchisor does not require, but does recommend, that franchisees (if they are an individual) or the managing owner (if the franchisee is an entity) participate personally in the direct operation of the facility. Franchisees must at all times retain and exercise direct management control over all aspects of the facility’s business and all amenities and other products and services it offers. Only an individual who devotes his or her full working time and best efforts to the day-to-day, on-premises operation of the facility, has satisfactorily completed our management training program, and is not engaged in any other business endeavor except passive investments which do not interfere with the performance of his or her duties as manager may manage the facility. Franchisees must offer all amenities and other products and services that the franchisor periodically specifies as being mandatory. Franchisees may not offer, sell, provide or otherwise distribute at the facility, the site or any other location any amenities or other products or services the franchisor has not authorized, and they must discontinue selling and offering any amenities and other products or services that the franchisor at any time disapproves in writing.
What is a territory granted in a franchise agreement?
Territory Granted: Franchisees will operate the facility at a specific site that the franchisor first must accept. If franchisees have not yet located an accepted site when they sign the Franchise Agreement, the franchisor will designate a “site selection area” when they sign that agreement. The franchisor typically identifies site selection areas either using city boundaries or as a circle with a radius of a specified distance that it determines from a specified intersection. There is no minimum size for a site selection area. Except as provided in the FDD, if franchisees are complying with the Franchise Agreement, then neither the franchisor nor its affiliates will, during the term of the Franchise Agreement, operate or authorize any other party to operate a Gold’s Gym facility the physical premises of which are located within (i) the site selection area (until the franchisor designates the territory) or (ii) the territory (once the franchisor has designated the territory). The territory is a circle with a radius of a specified distance that the franchisor determines from the facility’s main front entrance. The franchisor will determine that distance based on the factors that it deems relevant, which might include demographics, the character of the site and nearby businesses and residences. The minimum territory may be as small as one-eighth of a mile in a densely populated area, or in some rural areas, up to three miles.
How many hours of training is required for a franchise?
Currently, initial training consists of approximately 30 hours of classroom training and five hours of on-the-job training at the franchisor’s location in Dallas, Texas. If franchisees participate in one or more optional studio programs, additional training will be required.
Does Franchise Direct sell your information?
Franchise Direct's reputation for integrity in the franchise industry has been established over our 20+ years in business. We NEVER sell your information or share it with anyone other than the companies from which you have requested information. Please view our privacy policy.
Does franchising offer financing?
Financial Assistance: The franchisor does not offer direct or indirect financing. The franchisor does not guarantee a franchisee’s note, lease, or other obligation.
What is Gold's gym?
Gold's Gym is the #1 fitness club in the world and one of the most recognized names in the explosive 15.9 billion dollar fitness industry. Gold's Gym has expanded its fitness profile to offer all of the latest equipment and services including, group exercise, personal training, cardiovascular equipment, spinning, Pilates and yoga, while maintaining its core weight lifting tradition. With nearly 3 million members world wide, Gold's Gym continues to change lives by helping people achieve their individual potential. Unmatched brand awareness, Ongoing support, proprietary offerings, and the most diverse, complete fitness experience available to qualified single and multi-unit developers. Gold's Gym, Change Your Body, Change Your Life.
What is Gold's Gym University?
Gold's Gym University is a 5-day, 28 class comprehensive workshop aimed at delivering efficient and modern approaches to learning and orienting new and existing franchisees to the Gold's Gym organization and all it has to offer. The University has been designed to help ensure that owners and their staff are informed and equipped with all the skills required to run a successful operation. If you have recently opened or are about to open a new Gold's Gym Franchise, these classes are a must! Knowledge is power, and Gold's Gym University will provide even the most experienced gym operators with hands-on operational knowledge to enhance business operations.
