It takes a significant amount of courage and drive to start an independent business, especially in today’s uncertain economic climate. After spending months on a finely crafted business plan, entrepreneurs are faced with the task of securing capital to fund their startup and turn it into a functional operation. There’s often no guarantee that the venture will stand the test of time. Indeed, according to Investopedia, 50% of startups have a survival rate of at least five years.
Because of these challenges, what ought to be an exciting undertaking can turn into dismay and undue stress. But, what if becoming a business owner was actually simpler and more affordable?
Owning a franchise requires lower upfront and running costs than many independent startups. And, because F45 franchisees are buying an established brand in one of the fastest growing industries, they can anticipate a higher rate of success.
Owners of independent fitness studios often overspend on premises, expensive equipment and more staff members than needed. F45’s business model is built on the principle that simplicity is everything. Our floor plans feature a simple design and layout that provides a productive training environment. F45 training studios are fitted only with essential equipment needed to improve performance and results. And, successful staffing is achieved by finding just the right number of employees. This innovative less-is-more approach has enabled existing F45 franchise owners to decrease their overhead costs and leverage profit opportunities.
Not only is the running of an F45 training studio as cost effective as possible, these ongoing expenses are also largely consistent throughout the investment period. This makes it possible for owners to forecast their return on investment and break-even without a large customer base.
When comparing starting an F45 Training to a conventional gym, the costs differences are dramatic. Based off research, compared to our F45 Training Owners, traditional gyms require 8x more staff, require 5x more working capital to start, and spend:
- 9x more on equipment
- 3.5x more on rent
- 10x more on maintenance
- 1.5x more on marketing
This adds up to requiring 5x more capital to start a traditional gym vs. an F45 Franchise.
With F45’s proven business model, owners will find it easier to secure funding from a financial institution. Given the risk of failure, many lenders are hesitant to invest in independent business owners. When buying an F45 franchise, owners have the benefit of a globally recognized brand that ensures a steady revenue stream. The potential of financial stability goes a long way to helping entrepreneurs dramatically increase their odds when getting started.
Ready to take the first step to becoming a business owner? Once an online application is completed, the following stages are followed to invest in an F45 training studio.
Stage 1: Phone interview with Sales Team
Stage 2: Due diligence checks, video interview, training site visit at our El Segundo Headquarters
Stage 3: Board Review of application, interview and training
Stage 4: Formal approval by F45 Board
Stage 5: Franchise induction program
Some people may think they need appropriate fitness certifications to create a successful training studio. While it can be helpful, it certainly isn’t required to start a F45 Training Studio. With the training we provide at F45, many franchisees have learned how to capitalize on abilities they’ve obtained in other industries to launch a thriving studios. We pride ourselves on the fact that no F45 Studio has ever had to close its doors. This is partly because of F45’s franchise support system and partly because of what gym owners bring to the table, not the least of which is the ability to solve problems and make wise business decisions, take responsibility for the direction the business is heading, display positive leadership, and assemble the right talent to grow the studio.
F45 studio owners get access to a range of services designed to set them up for success.
- Franchise funding
- Site selection
- Daily training programs developed by elite programmers
- Exclusive rights to use the F45 business system in territory
- Extensive coaching of F45 business system, including customer acquisition and retention
- Regular marketing opportunities to leverage the brand
- Regular opportunities to share ideas and best practices with fellow franchisees
Franchisees take pride in being F45 studio owners because they get to be their own boss while having the advantage of a support system. If you choose to join the F45 family, we’ll help you get started, provide long-term guidance and optimize for performance along the way. Fill out a contact form today to get started.