Why Start a Kickboxing Gym Franchise
According to various studies, most Americans wish they were fitter than they currently are. This may explain why there are dozens of gyms that are opened around the country every year. Most of the successful gyms around the country are set up as franchises. At the gyms, customers can enjoy various workouts and equipment which they would otherwise not be able to afford to buy for use at home.
From recent data available, the country has more than 30,000 registered health clubs and gyms. Paid memberships have been rising steadily over the last few decades. With more people living a sedentary work life, gyms have become a necessity for anyone wishing to get fit, stay active and healthy.
If you would like to open a gym, there are various franchises you can consider. You may want to run an independent gym due to the many benefits it offers. However, it is also important to check the benefits of a franchise gym before opting to run an independent one.
Here are some factors to keep in mind before going with a gym franchise.
i) Cost of starting a gym
There are various costs you are likely to incur when you decide to get into a gym franchise. Moreover, there may be residual fees to be paid to the corporate office.
Starting a gym franchise can cost you quite a substantial amount of money, from $30,000 to over $300,000. The fee is inclusive of a one-time fee for the franchise name. This fee usually ranges from $15,000 to $30,000.
The gym brand you will go with will determine how much you will end up paying in terms of franchise fees. You should check the financial requirements of the gym franchise you want to get. Some of the well-established brands may have capital requirements running into millions of dollars. The amount you will end up paying may also depend with where the gym will be located. If you will be getting equipment from the franchise, the costs are likely to go up.
When you want to start a gym franchise, it is also important to consider how much you will be paying. You will need to pay regular royalties to the gym franchise brand. With some franchises, your monthly royalties may reach $500 or more. Other franchises may charge you a percentage of the gross revenues you will be making. Whether or not customers will come to your establishment will mainly depend on the brand you choose. Apart from this, it is easier to market your gym when you are a franchise of an established gym business.
ii) Where is the gym located?
Location is another factor to keep in mind before starting a gym franchise. The best location for a gym franchise is a convenient and accessible one. Studies have indicated most people will pay from $10 to $50 a month for a more convenient gym option.