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Workout Anytime Franchise ProfileFitness Franchises > Gyms |
What Are the Initial Investment Requirements for a Workout Anytime Franchise?
To open a Workout Anytime franchise, you should expect an initial investment ranging from $784,950 to $2,073,050. This includes a franchise fee of $35,000. Additionally, you will need to have a net worth of between $500,000 and $1,000,000. Understanding these financial commitments is crucial for assessing your readiness to become a franchisee.
What Are the Ongoing Fees for Workout Anytime Franchisees?
Workout Anytime franchisees are required to pay a royalty fee of 6% on gross sales, along with a marketing fee of 1%. These ongoing fees contribute to the brand's overall marketing efforts and operational support, ensuring that franchisees can benefit from a well-established brand presence while managing their individual units.
What Is the Average Revenue Potential for a Workout Anytime Franchise?
On average, a Workout Anytime unit generates annual revenue of approximately $738,996, with a median revenue of $684,365. The revenue can vary significantly, with the lowest reported annual revenue at $158,345 and the highest at $1,366,712. Understanding this revenue potential can help you evaluate the financial viability of the franchise.
How Long Does It Take to Break Even with a Workout Anytime Franchise?
The breakeven time for a Workout Anytime franchise is estimated at 18 months, with an investment payback period of about 24 months. This timeline is essential for prospective franchisees to consider, as it indicates how quickly you can expect to recover your initial investment and start generating profit.
Workout Anytime 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.
The minimum total assets (minus liabilities) you must possess.
Net Worth Required:
The estimated period to recoup your total investment.
Investment Payback:
The initial fee paid to join the franchise system.
Franchise Fee:
Ongoing percentage of revenue paid to the franchisor.
Royalty Fee:
Regular contribution toward the franchise’s advertising fund.
Marketing Fee:
The estimated timeframe to recover your initial costs.
Breakeven Time:
The total amount required to launch the franchise.
Initial Investment:
The minimum liquid capital you must have on hand.
Cash Required:
The typical yearly revenue generated per franchise location.
Average Revenue:
The middle value of yearly revenue among franchise locations.
Median Revenue:
The largest reported annual revenue among franchisees.
Highest Revenue:
The smallest reported annual revenue among franchisees.
Lowest Revenue:
A broad sector defining similar types of franchise businesses.
Industry:
A more specific division within the broader industry.
Category:
The key individuals guiding the franchise’s strategy and growth.
Leadership:
The official business address of the franchisor’s headquarters.
Corporate Address:
Available financing options to help start the franchise.
Funding Year:
The main organization that owns the franchise brand.
Parent Company:
Workout Anytime Franchise Unit Growth Summary
A breakdown of corporate, franchised, and total units, with yearly net changes.
Total Units
Franchised Units
Corporate Units
| Units | 2020 | 2021 | 2022 |
|---|---|---|---|
| Total Units | 167 | 167 | 179 |
| Net Change YoY | 0 | 12 | |
| Franchised Units | 166 | 167 | 179 |
| Net Change YoY | 1 | 12 | |
| Corporate Units | 1 | 0 | 0 |
| Net Change YoY | -1 | 0 |
Company Background
Workout Anytime is a fitness franchise that provides a 24/7 gym experience, catering to individuals seeking convenience and flexibility in their workout routines. Founded with the mission to make fitness accessible to everyone, Workout Anytime has expanded its reach across the United States, offering a variety of workout equipment, group classes, and personal training options. With a focus on affordability and community, the brand aims to create a welcoming environment for fitness enthusiasts of all levels.
Franchise Opportunity
Investing in a Workout Anytime franchise presents a unique opportunity for aspiring entrepreneurs interested in the booming fitness industry. With an initial investment ranging from $784,950 to $2,073,050, franchisees benefit from a well-established brand and a proven business model. The franchise offers comprehensive training and ongoing support, enabling franchisees to effectively manage their operations and maximize profitability within a growing market.
Financial Overview
The financial landscape of a Workout Anytime franchise includes an average annual revenue of approximately $738,996 per unit, with a median revenue of $684,365. Franchisees can expect a breakeven period of around 18 months and an investment payback timeframe of 24 months. With a royalty fee of 6% and a marketing fee of 1%, franchise owners can strategically plan their budgets to optimize financial performance and achieve long-term success.
Required Investment
To open a Workout Anytime franchise, potential franchisees must meet specific financial criteria, including a net worth requirement of $500,000 to $1,000,000 and available cash ranging from $784,950 to $2,073,050. The initial franchise fee is set at $35,000, which grants access to the brand's resources, training, and operational support. Understanding these financial commitments is crucial for prospective owners to assess their readiness for franchise ownership.
Operational Performance
The operational performance of Workout Anytime franchises reveals key insights into expenses and profitability. Average operating expenses total approximately $8,218,340 annually, with significant costs attributed to salaries and benefits, marketing, and general administrative expenses. Despite these costs, the franchise model aims to maintain a balance between operational efficiency and member satisfaction, ensuring a sustainable business environment.
Growth and Expansion
Workout Anytime has shown consistent growth, increasing its number of franchised units from 166 in 2020 to 179 in 2022. This expansion reflects the brand's commitment to meeting the rising demand for accessible fitness options. As franchisees leverage the support and resources provided by the corporate team, they can contribute to the brand's growth trajectory while establishing their presence in local markets.
Frequently Asked Questions
The initial investment for a Workout Anytime franchise ranges from $784,950 to $2,073,050, which includes the franchise fee, equipment, and other startup costs.