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 be one of the reasons for the increase of kickboxing gyms around the country. Most of the successful gyms around the country are set up 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.
From recent data available, the country has more than 30,000 registered health clubs and gyms. Over the last 10 years, most gyms have been seeing an increase in uptake of paid memberships. Going to kickboxing gyms has become necessary for anyone who wants to be fit but mostly works in a sedentary life.
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.
Among the things to consider before getting a gym franchise include:
i) High startup costs
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. Apart from this, residual fees to the corporate office may apply.
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 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. With some franchises, you may need millions of dollars to get started with a gym. Sometimes, location can determine how much you will end up paying. You should be prepared to pay more if you will be getting equipment from the franchise.
Cost is another factor to consider when you want to start a gym franchise. Royalties are payments that will be required for continued use of the brand name. With some franchises, your monthly royalties may reach $500 or more. With some franchises, your recurring costs will depend with the amount of revenues you will be making a month. The brand name you are using can be a huge deal breaker for new customers. You can easily market your gym when you are a franchise of a well-established brand.
ii) Where is the gym located?
Another important thing to consider before starting a gym franchise is the location. 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.