Kickboxing Gym Franchises: Two Reasons for Going with It
Studies have shown that millions of Americans are yearning to get fit. This may explain why there are dozens of gyms that are opened around the country every year. Most gyms you will come across of franchises of well-established brands. 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. 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, 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) High startup costs
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.
The cost of starting a kickboxing gym franchise can run into hundreds of thousands of dollars. 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. When evaluating different kickboxing gym franchises, check the financial requirements of different brands. Some franchises have substantial capital requirements that run into millions of dollars. Sometimes, location can determine how much you will end up paying. Costs are likely to increase if you will be purchase equipment from the franchise.
Another factor you will have to consider is cost. To continue using a gym brand name, you will have to pay some royalty fees. 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. 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?
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. You can charge higher prices if your gym is in a convenient location.