GYMGUYZ Franchise Startup Cost, Profit & Opportunities
With an ambitious plan of becoming the world’s largest fitness brand in the next 15 years and driven by its 3 C’s business model that stands for customized, creative and convenience, the GymGuyz franchise is has become a brand to be reckoned with in the fitness industry.
Its culture of service excellence has seen it become an attractive brand to both its clients and investors alike. Aside from being a fitness enterprise, its central focus is to change people’s lives positively.
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Being a largely untapped area in the fitness industry, the GymGuyz franchise specializes in the provision of mobile fitness services especially to clients who are unable or unwilling to leave their homes to travel far distances before they can gain access to fitness services.
All sorts of fitness equipment are loaded onto the van and transported to the locations where they would be needed. Founded by Josh York in 2008, He doubles as both the founder and CEO of this franchise opportunity. The GymGuyz franchise opened its franchising arm for business in 2013 and has its corporate headquarters located in Plainview, New York.
Benefits of Owning a GymGuyz Franchise
Interested investors are assured of limitless possibilities. These are hinged on the fact that the mobile fitness industry is largely untapped; as a result, there are huge potentials for growth and profitability for the investor who will grab this opportunity by investing in an excellent brand driven by visionary `leadership.
All GymGuyz franchisees immensely benefit by adopting the easy to follow the business model set by the franchisor that has seen it achieve robust growth right from its inception.
The tendency for failure is greatly reduced by the introduction of easy to follow steps that will ensure that the franchisee does not have to face major challenges. An elaborate support system put in place by the franchisor ensures that all GymGuyz franchisees do not find themselves stranded at any point during the duration of their franchise contract.
The enhanced visibility made possible by the mobile vans which are moving billboards ensures that maximum exposure to our services is realized, leading to increased patronage.
GymGuyz Franchise Startup Cost
There are attendant costs to starting a GymGuyz franchise that all franchisees are expected to incur. These are in the form of an Initial Investment sum that ranges from $56,650 to $119,753.
There are also other startup costs that include a net-worth requirement of $150,000, and a liquid cash requirement of $100,000. These startup costs are a pre-condition for ownership of a GymGuyz franchise.
GymGuyz Franchise Fee
The GymGuyz franchise charges a franchise fee that starts from $35,000. However, there are financing options made available by the franchisor. The franchisee has to qualify before benefitting from the financing arrangement.
Financing is in the form of a third party arrangement between the franchisor and finance sources that provides financing covering the franchise fee.
Apart from the above, under the franchisor’s veteran incentives program, designed to honor veterans who have served their country selflessly, GymGuyz franchise offers a discount of $5,000 off the franchise fee.
GymGuyz Franchise Ongoing Costs
There are certain ongoing costs associated with ownership of a GymGuyz franchise. These ongoing costs are in the form of an Ongoing Royalty fee of 6% and an Advert Royalty fee of 2%.
These ongoing costs mean that franchisees with bigger sized GymGuyz franchises pay higher ongoing costs as compared to franchisees with smaller sized GymGuyz franchises who typically incur lower ongoing costs.
GymGuyz Franchise Training and Support
The GymGuyz franchise provides mandatory training to all its franchisees, especially the new ones. This training is aimed at transferring the needed skills required for optimal productivity. The training sessions last a period of 7 days at the franchisors corporate headquarters. There is also a 2-day on-site training session, plus additional training which holds monthly.
The support offered by the GymGuyz franchise to its franchisees are in the form of marketing support and ongoing support. For marketing support, it covers areas such as the placement of adverts in both national and regional media, plus the use of cooperative advertising and ad slicks.
Ongoing support covers critical areas such as the provision of security, a grand opening ceremony, and periodic meetings/newsletter publications aimed at exposing franchisees to current industry trends and innovations. Others include a toll-free line, the provision of internet services and field operations.
GymGuyz Franchise Application and Terms of Agreement
The franchise terms of agreement/renewal contract are currently not available, but these will be fully disclosed during the application process.
How to Start a GymGuyz Franchise?
To own a GymGuyz franchise, provision is made for indication of interest on the franchisor’s website on https://www.gymguyz.com/franchise-opportunities/ there is an online application form, with spaces provided where the franchise candidate is expected to fill his/her personal details.
Once submitted, the franchisor goes through the application, and qualified franchisees are contacted using the contact details supplied in the application. Further investment discussions leading to the ownership of the franchise are entered into.
With the information supplied on the GymGuyz franchise opportunity, prospective franchisees are able to have a better knowledge critical to taking the right investment decisions with lesser risks.