Why Start a Kickboxing Gym Franchise
According to various studies, most Americans wish they were fitter than they currently are. This may explain why there are dozens of gyms that are opened around the country every year. 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.
It is estimated there are more than 30,000 health and gym clubs in the US alone. Paid memberships have been rising steadily over the last few decades. 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
There are various costs you are likely to incur when you decide to get into a gym franchise. Apart from this, residual fees to the corporate office may apply.
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. Check the financial requirements of different companies you may want to purchase a franchise from. Some franchises have substantial capital requirements that run into millions of dollars. 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.
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. Whether or not customers will come to your establishment will mainly depend on the brand you choose. Apart from this, it is easier to market your gym when you are a franchise of an established gym business.
ii) Where is the gym located?
You should also consider the location where you would like to start 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.