Question: Is Anytime Fitness Franchise Profitable?

What is the best business structure for a gym?

Limited Liability Company or LLC As the most common type of business entity, an LLC is fast, simple and inexpensive to set up and maintain.

It protects your personal finances and assets and is a great way to start your personal training or gym business..

What is the most profitable franchise to own?

10 of the Most Profitable Franchises in 2020McDonald’s. … Dunkin’ … The UPS Store. … Dream Vacations. … The Maids. … Anytime Fitness. … Pearle Vision. … JAN-PRO.More items…•

How much does it cost to start an Anytime Fitness franchise?

Our fee structure includes a one-time $42,500 franchise fee and an ongoing $699 monthly payment. Most franchisors take a percentage of gross sales. With Anytime Fitness, you don’t pay fees based on sales totals.

How do I open a Anytime Fitness franchise?

The total initial investment will be around $300,000 plus the following applicable costs:Fit-out costs for the gym of up to $290,000.An equipment lease package which can cost up to $240,000.A one-time franchise fee of $37,500.Ongoing monthly payment of $549.No fees paid based on total sales.

How much does Anytime Fitness cost per month?

How much does it cost to join? Pricing will vary depending on your location, but the average cost of monthly membership is $36.50 in the United States and $49 in Canada. Club dues, monthly fees and any additional charges are specific to each independently owned gym.

Why do gyms fail?

There’s plenty of other factors to consider such as employees, equipment, and much more! If there’s no decisive plan of action your gym will likely fail in the ultra-competitive market. As stated the gym market is very competitive. … Gyms that decide to open near competition must do their best to solidify themselves.

What equipment do you need to start a gym?

To help you narrow down what you really need, consider these 10 pieces of equipment that are perfect for the small-scale gym….The Must-Have Gym Equipment You Need for a Fitness StudioTraining Bench. … Dumbbell Set. … Barbell Set. … Kettlebell Set. … Pull-Up Frame and Bar. … Treadmill. … Stationary Bicycle. … Rowing Machine.More items…

How do I start a gym with no money?

Starting a Fitness Business With No MoneyBe Realistic. It is a key aspect of keeping your budget down when starting your first fitness business. … Use Low-Cost or Free Marketing Techniques. You could use business cards or paid referrals to market yourself at a low cost. … Use Free Resources. … Don’t Overdo It.

What gyms pay personal trainers the most?

Personal Trainer Salary Research Shows the Highest Paying Gyms24 Hour Fitness. Non-training hours at 24 Hour Fitness are minimum wage, but the gym does offer some attractive incentives. … Anytime Fitness. Anytime Fitness gyms are franchised and had varied payment structures. … Crunch Fitness. … Equinox. … LA Fitness. … Planet Fitness. … YMCA.

What is the cheapest gym to join?

Five most affordable gym membershipsPlanet Fitness. Planet Fitness advertises itself as a gym for people who don’t like gyms, with ads referring to every Planet Fitness location as a “Judgement Free Zone.” … Cardinal Fitness. … Your Local YMCA. … Gold’s Gym. … LA Fitness.

How much money do Anytime Fitness franchise owners make?

The typical Anytime Fitness Owner Operator salary is $41,381.

How much profit does a gym make?

Increase membership revenues – If membership at your gym is $1,000 per year, you only need 100 members to turn over $100,000 in annual revenue. But adding just one new member every week puts annual revenues at $152,000. Adding two new members per week puts it at $204,000.

Do Gym franchises make money?

However, according to the company website, franchisees can expect a greater than 25 percent return on investment in a franchise’s second year, even after royalties and advertising. That comes from a median annual membership revenue of around $1.7 million and a median operating income of $567,000.

Who is the CEO of Anytime Fitness?

Chuck Runyon (Jan 2010–)Anytime Fitness/CEO

How many members does the average Anytime Fitness have?

806 membersThe average number of members per Anytime Fitness club open at least one year also increased nearly five percent from 769 to 806 members. “As our franchisees and members can attest, one of the key ingredients to our success is the personal attention we offer our customers,” said Chuck Runyon, CEO of Anytime Fitness.

Is franchising a gym a good idea?

Higher profits: Franchises typically see higher profits than non-franchise businesses, as there is a loyal customer base and formula for success. While the initial investment to open a gym franchise can be high, you’ll likely turn a profit more quickly.

How much does it cost to open a Powerhouse Gym?

For example, a 10,000 square foot facility would cost approximately $200,000-$250,000 to equip. This cost will vary depending on the product mix and amount of equipment.

How do I start my own gym?

Start a gym by following these 9 steps:STEP 1: Plan your Business. … STEP 2: Form a legal entity. … STEP 3: Register for taxes. … STEP 4: Open a business bank account & credit card. … STEP 5: Set up business accounting. … STEP 6: Obtain necessary permits and licenses. … STEP 7: Get Business Insurance. … STEP 8: Define your brand.More items…

Can you negotiate a gym membership?

You may find membership discounts or deals on classes on a gym’s website or through sites such as Groupon, Kufahl says. Negotiate a deal. When you decide which club you’d like to join, speak with a manager instead of a salesperson. Managers are more likely to be able to negotiate a better gym membership price for you.

Can you cancel anytime fitness membership?

I want to cancel my membership. Your specific cancellation policy will be outlined on that agreement. To cancel your membership contact your home club directly. Use the Club Locator to find their contact information.