I Love Kickboxing Franchise Startup Cost, Profit & Opportunities
I Love Kickboxing has evolved over the years from a small martial arts workout studio in 2009 into a huge brand with fantastic growth opportunities. The founder began franchising this kickboxing brand in 2012.
This turned out to be a great success as the franchise now has locations across the United States, Canada, and Peru.
I Love Kickboxing is seeking for more expansion or outlets throughout the United States and Canada. This franchise has operated by a culture of friendship, support, and motivation. Customers are made to feel at home through the warmth they receive whenever they walked through the door.
I Love Kick Boxing Formula+
ILKB has built a formula for success since it started. It not only operates by this formula but sticks by it. The customer is its major focus and has resulted in making its classes exciting, turning its customers into fans and caring for its partners. Let’s further discuss each of these.
Making The Class Exciting
This is the first formula to its success. By making its classes exciting, I Love Kickboxing has helped create a steady stream of new clients through referrals. The franchisor has been able to merge professional fighter workouts and fitness philosophies with fun. Thus, creating an unforgettable experience that customers love to share with friends and families.
Turning Customers Into Fans
There is always air and feeling of enthusiasm whenever customers walk into an ILKB training facility. Such gyms are operated by highly motivated staff who understand the company’s values. This reflects in the way customers are received and made to feel special.
The result has been amazing as customers increasingly find solace in IKLB training centers. Franchisees benefit from this formula as seen in the steady rise in the number of clients and their loyalty to the brand.
Caring For Partners
I Love Kickboxing cares a lot for its franchisees. Because the CEO himself owns and operates multiple ILKB franchises, the needs of franchisees are better understood and appreciated. This has resulted in the provision of support throughout the week including weekends.
Not only are franchisees supported to operate successfully, but they are also encouraged to be involved with their communities. Franchisees never feel alone as the franchisor is with them at every step of the way.
ILKB requires prospective franchisees to have an initial investment of $214,244 to $559,494. This is the total amount required to open the franchise and includes the franchise fee of $49,999 to $100,000. There are also net-worth requirements of $500,000, a liquid cash requirement of $125,000 and ongoing royalty & ad royalty fees of 6 and 1% respectively.
A breakdown of the initial investment costs includes a franchise fee starting at $49,999, traveling & living expenses while training which costs $2,000 to $8,000 and real estate costs of $12,000 to $34,000. Others include the equipment, fixtures & other fixed assets cost of $80,000 to $250,000 and architectural services & construction evaluation fee of $3,750 to $10,000.
Signage fees start from $4,500 to $10,000, insurance ranges between $1,200 to $5,000, legal costs starts at $2,500 to $5,500 and initial inventory and supplies cost starts at $5,000 to $14,000. Miscellaneous opening costs is $5,000 to $8,000, pre-sale and grand opening advertising will range from $10,000 to $35,000.
Other costs include a heart rate monitor the initial setup fee of $995, heart rate monitor device costs between $1,000 to $4,000. Franchisees will need additional funds for the first three months. These funds will range from $37,000 to $125,000.
For a lot of entrepreneurs, start-up capital for starting an ILKB franchise might not be enough to cover all expenses. This franchisor realizes that and has made an option for raising such funding available. Franchisees have the opportunity to get financing through ILKB’s financing sources.
These third-party sources offer to finance covering several crucial areas of franchise operations such as start-up costs, inventory, equipment, payroll, and accounts receivable.
When applying for a franchise, one of the major things that count is the quality of support offered or provided by the franchisor. ILKB isn’t any different. This franchise has an array of support services targeted at its franchisees to help succeed. The more the number of successful ILKB franchise units, the better it is for both franchisor & franchisee.
The support provided by this franchisor includes both marketing and ongoing support. Under its marketing support, you get to enjoy access to its cooperative advertising, the issuance of ad templates, national & regional media advertising in addition to social media advertising.
Other types of marketing support services include email marketing, SEO and local website development. These all contribute to pushing your services to your target market.
Ongoing support services include a grand opening ceremony, membership of purchasing cooperative, periodic newsletter publications and meetings as well as conventions. Others are online support, field operations, site selection, and security & safety procedures.
Training is needed to get started as a new franchisee. I Love Kickboxing provides comprehensive onsite training for new franchisees lasting 14 hours. Additional training is provided at its corporate headquarters for 5.5 hours.
Is this the right franchise for you? If you’ve found this article useful and will like to proceed with the application or contact the franchisor for questioning, you’ll need to fill and submit its online form.
What happens after? An introductory call follows shortly. A representative from ILKB calls to introduce the franchise, what it stands for and its business model.
Next, you are issued its Franchise Disclosure Document (FDD) containing details about its operations. The franchisor allows you to make validation calls to existing franchisees to listen to their side of the story.
The process involves training and construction of your units among other things before finally opening for business.
Owning an I Love Kickboxing franchise starts from fully understanding its requirements and other basic information. Here, we’ve succeeded in covering some information that will prove helpful to begin the process.
However, more complete details are made available in its Franchise Disclosure document.