Here are the investment costs and returns of an Anytime Fitness Franchise
The fitness industry is in pretty rude health. According to last year’s State of the Fitness Industry Report, published by the Leisure Database Company (LeisureDB), one in every seven people in the UK now has a gym membership. And that makes the industry itself worth £5bn annually. No wonder so many entrepreneurs are interested in either starting or buying a gym. If you’re one of those people, and also considering franchising as a safer route into gym ownership, then the Anytime Fitness franchise is probably on your wish list. But what are the total costs of entry, and what funds will you need to set aside to buy an Anytime Fitness Franchise?
The total cost to buy an Anytime Fitness Franchise
You might already be aware that, when buying a franchise, you’ll pay an initial fee to the franchisor but will also need funds for establishment costs and working capital. The Anytime Fitness Franchise is no different. The company suggests you will need a minimum investment of £170,000, with the total costs to buy an Anytime Fitness Franchise of between £330-£550k. Why so wide a range? Well, put simply, the expenditure will vary dependent on the size, location and fit out costs of that particular club.
What about the personal costs of buying an Anytime Fitness Franchise?
Unsurprisingly, the banks are happy to lend and will support your application (subject to status). More on that later. But you will need to have that significant sum – c£170k – in funds set aside to finance your Anytime Fitness Franchise. And that might be why many franchisees turn to family or business partners to help with finding the start-up cash. The returns on that investment, says Anytime Fitness, are healthy, though, and are one of the reasons why more than 60 percent of its franchisees go on to open additional clubs.
What type of investor buys an Anytime Fitness Franchise?
An advantage of buying a franchise is that, typically, you don’t need any previous experience in that sector. And that is certainly the case if you’re interested in buying an Anytime Fitness Franchise. What is important, though, is that the opportunity matches your personal requirements and, more so, is something you believe in. The saying: ‘If you do what you love, you’ll never work a day in your life’ – or variations on that – has been attributed to many people. But its sentiments are true.If you’re a keen fitness fanatic or gym goer – with a passion for business – then an Anytime Fitness Franchise could be the perfect fit for you.
How does bank funding help if I want to buy an Anytime Fitness Franchise?
Based on its reputation and global success – Anytime Fitness has opened more than 4,200 clubs in 33 countries – the biggest banks in the UK are able to help fund new franchisees. Each application is, of course, based on an individual’s needs and circumstances. But, like all large-scale and established franchises, Anytime Fitness is seen as lower risk to lenders such as Barclays, Lloyds and NatWest because of its trading history and robust business plan. If you want more information on funding, Daltons Business publishes useful finance guides.
Franchising is a lower risk to the banks and, for the same reason, it’s a lower risk for you – the investor. And while the costs to buy an Anytime Fitness Franchise might be higher than it would be setting up on your own, statistically you’re more likely to make a profit and remain in business. What’s more, consider all of the support, logistics and brand awareness you’ll benefit from. You might know why seven out of 10 of us have a gym membership, but would you know the best location for your gym in itself? Or how you go about securing thousands of monthly memberships?
Franchising is one of the safest routes into business, and with an Anytime Fitness Franchise, you’re tapping into a £5bn fitness industry. The franchise industry itself, according to the latest bfa NatWest survey, generates £17.2bn to the UK economy – a £2bn increase in the last three years. So, if you’re thinking about buying a franchise, you’ll be entering a buoyant and growing sector – and joining almost 49,000 fellow franchisees trading in the UK today.
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