What is involved in the process for a franchise candidate?
- A telephone meeting is set to determine if the candidate is qualified.
- Qualified candidates receive an information packet, which includes an informative CD.
- Candidate completes the franchise application and a second telephone meeting is set to answer a few of the candidates questions and determine a time to come to Denver, Colorado.
- Candidate and investors come to Denver for a formal, face to face meeting. During this meeting, will have the opportunity to visit a local Fitness Together facility. We will also discuss all aspects of our franchise model including software, manuals, site selection, lease negotiation, studio set-up process, marketing and advertising, financing, and a plan for the future. Each candidate will receive our Offering Circular to take home and review.
- Candidate begins the franchising process with payment for the initial franchise fee and a signed agreement.
How much does a Fitness Together franchise costs?
Typically, the initial investment for a Fitness Together franchise ranges from about $141,835 - $234,085. The area of the country, size of the facility, pre-opening expenses, tenant improvement costs, signage, and other misc. costs will effect the new franchise total costs. The franchise fee for the business model is $34,000, which is included within the initial investment total. The royalty payment is 6% of the monthly gross revenue. |
What qualifications does Fitness Together seek in its potential franchisees?
Fitness Together seeks qualified applicants to own and operate its franchises. The following qualifications, along with others, are necessary to be considered for Fitness Together franchise:
- A desire to help people
- An entrepreneurial spirit
- The ability to motivate and train people
- A willingness to devote 100% of your efforts to the daily operations of the facility as an on-site owner
- A willingness to complete a comprehensive training program to learn all aspects of operating a Fitness Together business
- Proper financial resources
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What financing options are available?
Typically, franchise owners do one or a combination of the following to obtain financing:
- Home Equity Loan
- Obtain a loan through a bank (SBA, or Conventional) - with cash injection of 30%
- Borrow against 401K, IRA, or other accumulated assets.
- Borrow from a friend or family member.
- Business partner
Can I open a Fitness Together franchise if I do not have all the required finances in liquid assets?
In limited cases, we may be able to assist you in finding financing. You must have at least $50,000 to put toward this endeavor. After completing a Fitness Together franchise application, we can discuss with you these financing options.
What locations are available in my State? Country?
The availability of franchises in specific geographic markets must be discussed with a representative from Fitness Together Franchise Corporation. Fitness Together cannot predict which locations will be available at any given time. Locations are available on a "first to pay gets first choice" basis. We are averaging 10-15 new franchise sales per month worldwide.
How much money can I make?
Profitability varies based upon a number of factors. These factors include, but are not limited to sales, location, occupancy and operating costs, leadership, and the ability to properly manage and operate the business.
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