Why Start a Kickboxing Gym Franchise
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. 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.
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.
For any entrepreneur looking at the possibility of starting their own gym, going for franchises can fast-track your success. You may want to run an independent gym due to the many benefits it offers. However, opting to get a franchise of an established company also comes with its benefits.
Below are two tips to consider before getting into a kickboxing gym franchise.
i) Cost of starting a gym
Before you start a kickboxing gym franchise, you should know of the costs you are likely to incur. Apart from this, residual fees to the corporate office may apply.
You can end up spending from $30,000 to $300,000 to start a franchise gym. The fees you will be charged will usually include the cost of using the franchise name. You can end up spending up to $30,000 in fees for using the franchise’s name.
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.
Another factor you will have to consider is cost. Royalties are payments that will be required for continued use of the brand name. With some gym franchises, you will have to pay a monthly royalties of about $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) Consider the gym location
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.