Kickboxing Gym Franchises: Two Reasons for Going with It
Government health reports indicate that many unfit Americans wish they were fitter. This may be one of the reasons for the increase of kickboxing gyms around the country. 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. The last 10 years have seen many gyms introduce paid memberships to their members. With more people living a sedentary work life, gyms have become a necessity for anyone wishing to get fit, stay active and healthy.
If you want to get involved in kickboxing gym business, consider purchasing a franchise option. Running an independent gym has its benefits. However, opting to get a franchise of an established company also comes with its benefits.
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. 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 gym brand you will go with will determine how much you will end up paying in terms of franchise fees. 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. 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.
When you want to start a gym franchise, it is also important to consider how much you will be paying. 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 gym brand you choose can play a major role on whether or not customers will come to your establishment. When you are a franchise of an established brand, marketing your gym will be easier.
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.