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 gyms you will come across of franchises of well-established brands. At the gyms, customers can enjoy various workouts and equipment which they would otherwise not be able to afford to buy for 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. 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. 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) High startup costs
Before you start a kickboxing gym franchise, you should know of the costs you are likely to incur. 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. The fee is inclusive of a one-time fee for 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. Check the financial requirements of different companies you may want to purchase a franchise from. 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. If you will be getting equipment from the franchise, the costs are likely to go up.
Another factor you will have to consider is cost. To continue using a gym brand name, you will have to pay some royalty fees. Some gym franchises will require you to pay $500 or per month in royalties. With others, your charges will be a percentage of your gross revenue. The gym brand you choose can play a major role on whether or not customers will come to your establishment. You can easily market your gym when you are a franchise of a well-established brand.
ii) Where is the gym located?
Location is another factor to keep in mind before starting a gym franchise. The best location for a gym franchise is a convenient and accessible one. Studies have indicated most people will pay from $10 to $50 a month for a more convenient gym option.