Fitness franchises are widely profitable, and there are many different niches and which to make your living.
How much do fitness franchise owners make?
This breaks down to $1,263/week or $5,474/month. ZipRecruiter also indicates yearly salaries to be as high as $224,500 and as low as $15,500. At present, gym owners’ salaries are between $26,500 (25th percentile) and $78,000 (75th percentile). Top workers (90th percentile) make $140,000 every year across the U.S.
Is a fitness franchise a good investment?
Owning a gym franchise is worth the initial investment. Gym franchises currently account for $4B out of the total $34B health club industry in the US. The brand recognition a franchise affords makes it easier to gain customers.
Do franchise owners make money?
According to a survey done by Franchise Business Review involving 28,500 franchise owners, the average pre-tax annual income of franchise owners is about 80,000 dollars. … The study also found that only 7 percent of franchise owners earn over 250,000 dollars a year.
How much does it cost to start a gym franchise?
The total upfront investment for a gym franchise can fall anywhere between $30,000 and $300,000, including the one-time franchise name fee (ranging from $15,000 to $30,000). Of course, some brands are less expensive than others.
What is the most profitable franchise to own?
10 of the most profitable franchises in 2021
- McDonald’s. …
- Dunkin’ …
- The UPS Store. …
- Dream Vacations. …
- The Maids. …
- Anytime Fitness. …
- Pearle Vision. …
Why do gyms fail?
“Other than being under-capitalized, the biggest reason we see for health club failure is lack of business know-how and lack of proper implementation of sales and marketing strategies,” points out Thomas. “Another common misconception that many new gym owners have is that the gym will sell itself.”
Is owning a gym a good business?
Today the gym business is a highly competitive, dominated by giant health club chains that are to local gyms what Home Depot is to local hardware stores. The price of starting a gym is an enormous cash investment that you’ve got to be willing to risk, along with your good credit if things go south.
What is the best gym franchise to own?
9 of the best gym franchises to buy
- Anytime Fitness. Initial franchise fee: $3,150 to $42,500. …
- Orangetheory Fitness. Initial franchise fee: $54,950 to $59,950. …
- Planet Fitness. Initial franchise fee: $20,000. …
- Crunch Fitness. Initial franchise fee: $25,000. …
- Pure Barre. …
- The Bar Method. …
- UFC Gym. …
- Jazzercise Inc.
How much does a 24 hour fitness franchise cost?
And, they are both growing at a rapid pace. Investing in one of these types of fitness franchises will cost you between $175k-$200k total and you’ll want to be a multi-unit owner. As an owner, you are not really expected to physically run the clubs.
What is McDonald’s franchise fee?
How much is a McDonald’s Franchise? The total investment necessary to begin operation of a traditional McDonald’s franchise ranges from $1,008,000 to $2,214,080. This includes an initial franchise fee of $45,000.00 that must be paid to the franchisor.
Is owning a Subway franchise a good investment?
With the benefits of an established business, low startup costs, and parent company support, a Subway franchise is a good option for entrepreneurs interested in opening a franchise business.
How much does a Subway owner make?
The average Subway franchise generates around $400,000 in revenue, with profit averaging around $41,000 per year.
Can I buy a gym franchise?
Gyms work well for franchising — they are increasingly in demand around the country and expanding aggressively. Fitness centers’ relatively high startup costs and complex management needs can be forbidding to independent entrepreneurs.
What is the most profitable gym?
#1: Planet Fitness
Club Industry lists Planet Fitness’ reported revenue as $429.9 million in 2017 (this amount is from its corporate-owned locations and franchisee fees but not the revenue earned by each franchisee). Planet Fitness currently has over 1,200 locations in America.
How can I open a gym with no money?
Steps To Opening A Gym With No Money
- Start small and allow your business to grow later on.
- Marketing should be free – by using social media you can cross-promote with other businesses (this can also include free trials or passes for your some or all of your services)