How Much Does It Cost to Start an Anytime Fitness Franchise?
Anytime Fitness is a fast-growing chain of gyms that is unique in the industry because, as the name suggests, clubs are open 24 hours. Members can access the gym with a secure key card, even when the gym is not staffed.
Founded in 2001, Anytime Fitness already has more than 3,000 franchises worldwide. Entrepreneur recently ranked Anytime Fitness the 10th best franchise in the country as part of its 2016 Franchise 500 list. The company’s popularity has been fueled by the relatively low operating costs compared to competing gym franchises, as well and franchises in other industries.
However, starting any type of franchise comes with a significant investment, as well as some risk. Understanding the costs associated with a new business venture is one of the first steps to deciding if it’s the right fit.
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Initial Costs and Ongoing Fees
Anytime Fitness has a fee and financial requirement structure that is similar to most other franchises, both in the gym industry and beyond. Franchisees must meet minimum net worth and liquid assets (i.e. cash) requirements to be considered. Once accepted, there is an initial franchise fee due upfront, then ongoing royalty and advertising fees.
Here’s the detailed breakdown of costs:
- Total investment for standard-size gyms: $84,700-$417,900
- Total investment for Anytime Fitness Express: $62,900-$279,300
- Minimum net worth: $300,000
- Minimum liquid assets: $100,000
- Initial franchise fee for standard gyms: $35,000
- Initial franchise fee for Anytime Express: $18,000
- Royalties: $549/month
- Advertising: $300/month
- Gym Cleaning Services: $25 and $75 per hour
Discounts are available is some circumstances, so it’s important to check with the company to see what is currently being offered. Franchise fee discounts are awarded to qualifying veterans.
The average yearly revenue for Anytime Fitness franchises is $421,800, and the average yearly profit is $114,611. Of course, these figures can vary greatly from one franchise to another, depending on factors such as location, market demand, management practices and more. The monthly rate you charge customers also varies based on local demographics, but the company will assist you in setting a rate that is appropriate.
In addition to membership fees, franchisees have opportunities to create additional revenue streams by offering certified personal training, tanning and vending. The company will assist with these decisions as well.