Why Start a Kickboxing Gym Franchise
According to various studies, most Americans wish they were fitter than they currently are. The desire to be fit is one of the reasons kickboxing gyms are popping around in different states. Majority of the gyms are opened as franchises. The gyms have various workouts, from classes to machines, which most people can’t keep at home.
The number of registered gyms and health clubs around the country is estimated to be over 30,000. The last 10 years have seen many gyms introduce paid memberships to their members. Going to kickboxing gyms has become necessary for anyone who wants to be fit but mostly works in a sedentary life.
If you want to get involved in kickboxing gym business, consider purchasing a franchise option. There are many benefits of having an independent gym. 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) Gyms are expensive to start
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.
The cost of starting a kickboxing gym franchise can run into hundreds of thousands of dollars. The fee is inclusive of a one-time fee for 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. You should check the financial requirements of the gym franchise you want to get. Some of the well-established brands may have capital requirements running into millions of dollars. Your costs can also be affected by the location of the gym. You should be prepared to pay more if you will be getting 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 franchises, your monthly royalties may reach $500 or more. With others, your charges will be a percentage of your gross revenue. 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.