Kickboxing Gym Franchises: Two Reasons for Going with It
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. Majority of the gyms are opened as franchises. The gyms provide customers with a number of workout options and professional training equipment that are quite expensive to buy and set up for personal use at home.
It is estimated there are more than 30,000 health and gym clubs in the US alone. Paid memberships have been rising steadily over the last few decades. If you want to be fit, active and healthy, you should sign up for a gym membership.
If you would like to open a gym, there are various franchises you can consider. Running an independent gym has its benefits. However, before you go for an independent gym, consider the benefits of a franchise gym.
Below are two tips to consider before getting into a kickboxing gym franchise.
i) Cost of starting a gym
If you want to take advantage of a well-established gym brand and set up a branch in a new location, there are a number of startup costs you will have to pay. You may also have to pay some residual fees to the corporate office to operate a gym franchise.
Starting a gym franchise can cost you quite a substantial amount of money, from $30,000 to over $300,000. You will also have to pay a one-time fee to be allowed to use the franchise name. This fee usually ranges from $15,000 to $30,000.
The cost of gym franchises varies from brand to brand. When evaluating different kickboxing gym franchises, check the financial requirements of different brands. With some franchises, you may need millions of dollars to get started with a gym. The amount you will end up paying may also depend with where the gym will be located. Costs are likely to increase if you will be purchase equipment from the franchise.
Cost is another factor to consider when you want to start a gym franchise. You will need to pay regular royalties to the gym franchise brand. Some gym franchises will require you to pay $500 or per month in royalties. Other franchises may charge you a percentage of the gross revenues you will be making. The gym brand you choose can play a major role on whether or not customers will come to your establishment. You can easily market your gym when you are a franchise of a well-established brand.
ii) Where is the gym located?
You should also consider the location where you would like to start a gym franchise. You want to set up your business at a convenient and accessible location. Studies have indicated most people will pay from $10 to $50 a month for a more convenient gym option.