Kickboxing Gym Franchises: Two Reasons for Going with It
Government health reports indicate that many unfit Americans wish they were fitter. The desire to be fit is one of the reasons kickboxing gyms are popping around in different states. Majority of the gyms are opened as franchises. The gyms have various workouts, from classes to machines, which most people can’t keep at home.
From recent data available, the country has more than 30,000 registered health clubs and gyms. The last 10 years have seen many gyms introduce paid memberships to their members. If you want to be fit, active and healthy, you should sign up for a gym membership.
If you want to get involved in kickboxing gym business, consider purchasing a franchise option. There are many benefits of having an independent gym. However, before you go for an independent gym, consider the benefits of a franchise gym.
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.
You can end up spending from $30,000 to $300,000 to start a franchise gym. 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 amount you will pay for a gym franchise will depend with the brand you go with. 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. Your costs can also be affected by the location of the gym. 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 gym franchises, you will have to pay a monthly royalties of about $500 or more. With others, your charges will be a percentage of your gross revenue. The brand name you are using can be a huge deal breaker for new customers. Apart from this, it is easier to market your gym when you are a franchise of an established gym business.
ii) Consider the gym location
Another important thing to consider before starting a gym franchise is the location. The best location for a gym franchise is a convenient and accessible one. Most gym goers prefer gyms that are closer to their workplaces or homes.