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Fitness Together Franchise ProfileFitness Franchises > Personal Training |
To open a Fitness Together franchise, the initial investment ranges from $245,341 to $500,636. This includes a franchise fee of $40,000, along with other startup costs. Potential franchisees should also be prepared to meet cash requirements between $245,341 and $465,636 and have a net worth of $300,000 to $500,000. Understanding these financial commitments is crucial for assessing your readiness to invest in this franchise opportunity.
Fitness Together franchisees are subject to ongoing fees, including a royalty fee of 6% of gross sales and a marketing fee of 2%. These fees are essential for maintaining brand standards and supporting marketing efforts. Aspiring franchisees should factor these ongoing costs into their financial planning to ensure sustainable profitability over time.
The average annual revenue per unit for a Fitness Together franchise is approximately $477,995, with a median of $401,377. However, revenue can vary significantly, with the lowest annual revenue recorded at $54,791 and the highest at $1,574,767. This variability highlights the importance of location, management, and marketing strategies in determining the financial success of each franchise unit.
Franchisees can expect to reach breakeven within 18 months and achieve investment payback in about 24 months. These timelines are essential for prospective franchisees to understand, as they provide a framework for evaluating the financial viability of their investment and the potential for early profitability in their Fitness Together franchise.
Fitness Together Franchise Financial Requirements
Below, you’ll find an overview of the initial investment needed to launch the business, along with the ongoing fees required by the franchisor to maintain operations over time.
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Fitness Together Franchise Unit Growth Summary
A breakdown of corporate, franchised, and total units, with yearly net changes.
Total Units
Franchised Units
Corporate Units
Units | 2021 | 2022 | 2023 |
---|---|---|---|
Total Units | 115 | 106 | 96 |
Net Change YoY | -9 | -10 | |
Franchised Units | 115 | 106 | 96 |
Net Change YoY | -9 | -10 | |
Corporate Units | 0 | 0 | 0 |
Net Change YoY | 0 | 0 |
The Fitness Together franchise requires an initial investment ranging from $245,341 to $500,636. This includes a franchise fee of $40,000. Potential franchisees should be prepared for a cash requirement between $245,341 and $465,636, along with a net worth requirement of $300,000 to $500,000. These financial commitments are essential for establishing a successful fitness studio.
The average annual revenue per Fitness Together unit is approximately $477,995, with a median annual revenue of $401,377. This highlights the potential for profitability within the franchise model. However, revenue can vary significantly, with the lowest reported annual revenue at $54,791 and the highest reaching $1,574,767, indicating a diverse range of performance outcomes based on location and management.
Franchisees are subject to ongoing fees, including a royalty fee of 6% on gross sales and a marketing fee of 2%. These fees contribute to the overall support provided by the franchisor, which includes marketing initiatives and operational guidance aimed at enhancing franchisee success.
The average financial performance metrics reveal a gross profit margin of 98.4%, but operating expenses are high, totaling approximately $61,798,331, which can exceed revenue in certain cases. This underscores the importance of managing costs effectively to ensure profitability and sustainability in the fitness industry.
Franchisees can expect a breakeven period of around 18 months, with an investment payback period of approximately 24 months. These timelines are critical for potential investors to consider, as they indicate how quickly they can expect to recoup their initial investment and start generating profit.
Over the past few years, the number of franchised units has seen a decline, with 115 units in 2021, dropping to 96 units in 2023. This trend may reflect market challenges or increased competition, making it essential for prospective franchisees to conduct thorough market research and assess local demand before investing.
Frequently Asked Questions
The initial investment for a Fitness Together franchise ranges from $245,341 to $500,636, including a franchise fee of $40,000.