How much does it cost to buy a fitness franchise? 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.
What is the cheapest gym franchise to own?
With the below information, you can choose the cheapest gym franchise opportunity for you.
- 4.1 Jazzercise Inc. Initial franchise fee: $1,250.
- 4.2 GymGuyz. Initial franchise fee: $40,000.
- 4.3 9Round. Initial franchise fee: $5,000.
- 4.4 F45 Training.
- 4.5 Anytime Fitness.
- 4.6 Burn Boot Camp.
- 4.7 Snap Fitness.
- 4.8 Club Pilates.
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.
Is a fitness franchise a good investment? Hence, it’s normal, even crucial, to verify if gym franchises are a good investment. Are franchises a good investment? The answer is a resounding yes. Research reveals that franchise businesses have over 90% success rate and can last longer compared to startups.
How much does it cost to buy a fitness franchise? – Additional Questions
What is the most profitable gym?
#1: Planet Fitness
Club Industry lists Planet Fitness’ reported revenue as $429.9 million in 2017 (this amount is from its corporate-owned locations and franchisee fees but not the revenue earned by each franchisee). Planet Fitness currently has over 1,200 locations in America.
What franchise makes the most money?
According to the Franchise 500 list of 2021, Taco Bell is the most profitable franchise to own.
Is owning an Anytime Fitness profitable?
The average Anytime Fitness location brings in about $441,116 in revenue per year, but a franchise owner can expect to make about $114,000 in profit after expenses. Anytime Fitness is the world’s fastest-growing fitness club, according to the International Health, Racquet and Sportsclub Association.
How much does a Planet Fitness franchise owner make?
How Much Do Planet Fitness Franchise Owners Make?
| FRANCHISED ONLY |
|
|
| BOTTOM THIRD |
UPPER THIRD |
| Average Annual EFT Revenue- |
$1,022,241 |
$2,210,892 |
| Median Annual EFT Revenue- |
$1,050,049 |
$2,098,704 |
| High Annual EFT Revenue- |
$1,316,182 |
$4,370,940 |
1 more row
Should I franchise a gym?
The return on your investment in a gym franchise is well worth the costs of starting the business if you do it correctly and wisely. In 2018, the fitness club industry was valued at almost $32 billion. Last year, the industry value went up by two billion.
Is opening a gym a good idea?
Like starting any business, opening a gym is a significant commitment of money, time and resources. The decisions and problems you will face can be stressful and challenging. However, by assembling your support team and planning, you stand a much better chance of ending up with a successful gym business.
Why do gyms fail?
“Other than being under-capitalized, the biggest reason we see for health club failure is lack of business know-how and lack of proper implementation of sales and marketing strategies,” points out Thomas. “Another common misconception that many new gym owners have is that the gym will sell itself.”
Do gyms make a lot of money?
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.
How do I start a gym with no money?
Follow these 10 steps to start a fitness business with no money.
- Develop a Concept and Find Your Niche.
- Conduct Market Research and Analyze the Competition.
- Create a Thorough Business Plan.
- Decide on a Business Model.
- Write a Marketing Strategy.
- Get Your Qualifications.
- Obtain Permits and Insurance.
- Create a Sales System.
How do I start a small gym business?
A Concise Guide To Opening A Gym In 2022
- Find 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.
How do I start my own fitness business?
Here are the six steps you’ll need to take to start your fitness business.
- Step 1: Decide what kind of fitness business you want to operate.
- Step 2: Get trained.
- Step 3: Write a business plan and select an entity.
- Step 4: Get necessary permits and insurance.
- Step 5: Get an EIN.
- Step 6: Get funding.
How do I become a successful gym owner?
How to Successfully Manage a Fitness Business
- Include personal trainers.
- Include healthy food and smoothies.
- Organize weight-watching groups.
- Provide various workout classes.
- Use gym management software.
- Failing to understand the challenges of opening a gym.
- Failing to know and understand your purpose.
What do gym owners struggle with?
A common occurrence when first opening up a gym that many owners struggle with is member attachment. Members tend to get very comfortable with certain trainers and don’t want to change. The issue arises because unfortunately, a growing fitness club sometimes needs to alternate between multiple trainers.
How much money do you need to make a gym?
On average, it will take about $65,000 to $100,000 to open a small to medium sized gym, and this number depends on a variety of factors such as where you’re looking to operate and what kind of amenities you want to offer.
Is it hard to start your own gym?
Opening a gym can be tough and the first year of running any small business is a steep learning curve, especially the first time of asking. There will be a lot of challenges and adversity along the way and moments where you feel like giving up.
How can I make money at the gym?
10 Ways to Generate Revenue and Grow Your Fitness Business
- Create a Digital Fitness Platform.
- Nutrition Planning and Consulting.
- Fitness and Activewear Products.
- Sell Digital and Downloadable Content.
- Run Specialized Sessions.
- Offer Group Training.
- Host Health and Fitness Retreats.
- Become an Affiliate Partner.
How many customers should a successful gym have?
If you have at least 100 members, competitors will likely see that as a sign that you are doing something right, especially if it’s within your first year of business.
