If you’re into fitness or are a fitness enthusiast, then it’s likely you want to find out the cost of a Self Made Training facility.
This is a fitness company that was founded in 2010 and opened its franchising arm in 2016. However, we’re not interested in dwelling on its history; rather, our focus is on the training facility costs involved.
Now, issues of costs will excite two key categories of persons; first, some clients might want to find out what the costs implications are for using or registering for fitness sessions at a Self Made training facility.
The second category of persons interested in cost would be the investors or prospective franchisees seeking investment opportunities with the Self Made Training Facility franchise.
Whichever category you belong to, this article will try to provide the information you seek.
Self Made Training Facility Membership Costs
Are you interested in joining a Self Made Training Facility today? There are outlets spread across several states with one possibly close to your area. Now, the cost is an important factor when seeking a fitness center to join.
Unfortunately, self-made doesn’t offer membership for its gym sessions. Rather, you get the opportunity of paying per gym session. This isn’t a bad idea because you get to benefit from its wide range of fitness services and use of its facilities.
So, what’s the cost like? Cost plays an important role in determining how clients patronize a business. If you’re thinking about visiting a Self Made Training Facility, we’ll be glad to provide you with the cost information you seek.
No, price ranges from about $40 to $80 per session depending on the trainer.
To find out the exact cost details, you’ll need to visit your nearest Self Made Training Facility. What more? The length of each training session depends on what best serves the customer’s fitness needs.
Are You a Prospective Investor?
As mentioned earlier, Self Made Training Facility operates a franchise that offers enormous opportunities for prospective investors or franchisees. Before you apply for this franchise ownership, it’s best to have an idea of the costs involved.
We’ve gone the extra mile to ensure you get all the help you need in starting your journey as a Self Made Training Facility franchisee. Let’s take a look at the cost angle of things, shall we?
The Initial Investment
To stand a chance of becoming a Self Made Training Facility franchisee, you’ll need to fulfill certain obligations, part of which includes the financial requirements.
The total initial investment sum required starts from a low of $261,232 and a high of about $720,987.
The above sum covers a franchise fee of $45,000. You’ll also need to have working capital ranging from $15,000 to $30,000 as well as a royalty fee of about 5.0%. A full breakdown of all the costs involved in owning this franchise opportunity is listed in its Franchise Disclosure Document (FDD).
So, how do I get access to the FDD? This is only possible after applying for the opportunity and met certain conditions (especially financial). The ownership process begins with a series of back and forth until you’re invited and have a meeting with the franchise team.
Full access to the FDD is made possible. You’re giving ample time to go through each detail including the costs involved as well as its terms and conditions. Only when you’re fully satisfied should you sign and return it.
Why Are There Varying Costs?
While making mention of the investment costs involved, varying costs were provided. Now, such information may be quite confusing for some prospective investors or franchisees.
To address such confusion, the total initial investment and working capital fall within a range due to several factors.
The most common factor has to do with the scale of investment. In other words, it involves the number of Self Made Training Facility units you wish to operate. There’s also the issue of unit size. All these and more add up to the overall disparity in costs required for ownership.
For a much detailed understanding of such costs, it’s best to contact the franchisor for further discussions and clarifications.
Other Financial Requirements
There are additional financial requirements for ownership of a Self Made Training Facility franchise.
These include the minimum cash requirement as well as the net worth. A minimum cash requirement of $155,000 is needed.
Also, you’re expected to have a net worth of $255,000 to be considered for this franchise opportunity.
How Many Self Made Training Facilities Can I Own?
The maximum number of Self Made Training Facility outlets per franchisee is entirely determined by the franchisor.
This should form part of your discussions when applying for this opportunity. The bigger your intended scale of operations, the higher your costs are likely to be.
However, it’s also important to note that your earnings will eventually compensate for the investment made. Plus, a detailed breakdown of all costs involved is made available in the FDD.
Our discussion on the cost of a Self Made Training Facility won’t be complete without making mention of available financing options. Such provisions help foot part of your startup costs.
So, does this franchisor make such provisions available to prospective franchisees?
It does so in many ways. However, certain criteria must be met to qualify for such financing.
Self Made Training Facility has in-house financing that covers multiple and vital areas of operation such as the franchise fee, equipment, startup costs, payroll, accounts receivable, and inventory.
Another financing option is made available through its relationship with third-party sources. These offer financing covering payroll, franchise fees, accounts receivable, startup costs, inventory, and equipment.
Whatever side of the divide (that is, whether you’re interested in finding information on fitness session fees or want to become a franchisor), the information provided above helps provide you with the vital information you need.
More importantly, Self Made Training Facility has the exclusive right to alter or make changes to certain aspects of its agreement including costs.
Therefore, the cost details of owning this franchise opportunity may differ from those provided above with time.