24 HOUR FITNESS Franchise Fee, Revenue, And Profit Margin
24 Hour Fitness is a fitness center chain based in the United States of America. The company offers opportunities for business people and entrepreneurs who are interested in the fitness business.
If you desire to own or operate a fitness business or franchise, you can consider the 24 Hour Fitness franchise.
In this article, we will be examining 24 Hour Fitness and the opportunities it offers for entrepreneurs and business-minded individuals.
We will start by looking at the history of the company and its people. We will also look at the franchise cost of operating a 24 Hour Fitness franchise.
We shall also consider the franchisee fee which the company demands from its franchisees.
We shall also be considering the training and support which the company provides for its franchisees.
To be considered in this article also is the terms of the franchise agreement in the company. We will also be providing information on how you can open a 24 Hour Fitness franchise location.
Is 24 Hour Fitness a Franchise?
24 Hour Fitness is a franchise. The company is the world’s largest privately owned fitness center chain by the membership. 24 Hour Fitness was founded 35 years ago, in 1983.
In its early years, the company was known as 24 Hour Nautilus. The company’s name was changed in 1994 when the company (24 Hour Nautilus) in partnership with McCown De Leeuw acquired a fitness center chain known as Family Fitness Centers which then gave birth to 24 Hour Fitness.
The company was founded by Mark S. Mastrov, an American businessman born on January 29, 1958, in Oakland in the state of California in the United States of America.
Mark S. Mastrov holds a bachelors degree in business from the California State University, Hayward.
His other entrepreneurial ventures include a membership of the Sacramento Kings ownership group.
24 Hour Fitness’ headquarters is located in San Ramon, a city in the Contra Costa County, in the state of California in the United States of America. The company is present in 18 states in the United States.
The current Chief Executive Officer (CEO) of the company is Chris Roussos.
As a private company, 24 Hour Fitness is a subsidiary of AEA Investors and Ontario Teacher’s Pension Plan.
Today, the company has more than 4 million members in 420 franchise locations in 18 states of the United States of America where it is present.
The company had also operated locations outside the United States in Hong Kong, China, and Singapore which it no longer operates.
The company offers studio classes and special workout sessions for its members. The company also offers a nutritional supplement for its teeming members. The nutritional supplement is produced by Apex Fitness Group.
The company has a custom workout app for its members. The company’s 24GO app enables members to workout anywhere while still achieving the same result.
How Much Does 24 Hour Fitness Franchise Cost?
Entrepreneurs who wish to operate a 24 Hour Fitness franchise will have to contact the company directly on its website at www.24hourfitness.com for information on the cost of the company’s franchise. Franchise fee is $500 and total investment cost can run into $50,000 – $150,000.
24 Hour Fitness Franchise Fee
Intending franchisees who desire to open a 24 Hour Fitness franchise should contact the company directly on its website at www.24hourfitness.com to obtain information on the companies franchise fee for franchisees.
24 Hour Fitness Franchise Startup Cost
The startup cost for a 24 Hour Fitness franchise is not known. Intending franchisees should contact the company directly on its website at www.24hourfitness.com.
24 Hour Fitness Franchise Training and Supports
The company provides training and support for its franchisees.
The support which the company provides for its franchisees include;
- Franchisees at 24 Hour Fitness receive support for a grand opening of their franchise locations.
- 24 Hour Fitness provides advertising support for its franchisees.
- The company provides a toll-free support line for its franchisees.
- There is also a newsletter support for all franchisees of the company.
- All franchisees receive support on safety procedures from the company.
- Franchisees receive local marketing support from the company.
- 24 Hour Fitness provides its franchisees with online support.
- Franchisees receive support with ongoing training from the company.
- 24 Hour Fitness provides equipment support for its franchisees.
- All franchisees enjoy location design and construction support from the company.
24 Hour Fitness Franchise Terms of Agreement/Renewal
The terms of the initial franchise agreement for a 24 Hour Fitness franchise is not known. The intending franchisees should contact the company directly for information on the terms of the company’s initial franchise agreement terms.
How Much Does a 24 Hour Fitness Franchise Make?
The amount a 24 Hour Fitness franchise makes cannot be stated. The amount of money a 24 Hour Fitness franchise can make will depend on the location of the franchise and its size.
Entrepreneurs who seek to operate a 24 Hour Fitness franchise can leverage the company’s massive brand loyalty to make good money with the franchise.
How to Open a 24 Hour Fitness Franchise
For business people who wish to open a 24 Hour Fitness franchise, they should contact the company directly on its website at www.24hourfitness.com for all franchise inquiries.