More and more people are getting into living a healthy lifestyle. Concerned about their health, consumers now pay attention to their diet and fitness. No wonder gyms are becoming ubiquitous.
Among these gyms, Anytime Fitness stands out a bit, as they offer round-the-clock services. A gym member may enter one of its units to perform his/her routine even without a staff!
If you want to grab hold of the company’s growing popularity, you may buy a franchise! Learn more about the Anytime Fitness franchise cost through this article.
Average Anytime Fitness Franchise Cost
The initial Anytime Fitness franchise cost depends on what type of center you plan to set up. For instance:
- The investment for a standard fitness center runs from under $115,000 to over $677,000
- Investing in an express center would cost you over $89,350 to under $450,000
The initial investment already includes the following:
- Franchise fee
- Real estate
- Equipment
- Furniture and supplies
- Other opening costs
Anytime Fitness Franchise Startup Fee
You’ll need to pay a franchise fee to be able to use the company’s name. The costs are as follows:
- Standard Anytime Fitness center: $16,000 to $39,500
- Anytime Fitness express center: $13,000 to $20,000
You should settle the Anytime Fitness franchise startup fee through lump sum payment.
Real Estate
Aside from the Anytime Fitness franchise startup fee, you’d have to prepare for real estate expenses. The list of costs are as follows:
- Standard Anytime Fitness center
- Real estate and improvements: $13,500 to $307,500
- Architect/design fees: $5,000 to $9,500
- Anytime Fitness Express center
- Real estate and improvements: $7,500 to $205,000
- Architect/design fees: $3,500 to $8,000
The company’s official website features a map where you could find available locations for your franchise.
Equipment
Your club’s operations would heavily rely on equipment. The standard pieces include:
- Most clubs should have 5 to 10 treadmills.
- Free weights. Pieces for strength training includes dumbbells, Olympic plates, Olympic bars, and preloaded barbells.
- Fitness bikes. This is an alternative for cardio training. Types include interactive, recumbent, and traditional fitness bikes.
- Strength training machines. Some of the equipment under this category include cable machines, multi-stations, leg presses, bench presses, and a squat rack.
Aside from the fitness equipment, you would have to spend on pieces for tanning, hydro massage, and first aid. Following are the costs:
- Standard Anytime Fitness center
- Fitness equipment: $6,500 to $125,000
- Tanning equipment: $7,300
- Global access equipment: $1,600 to $32,500
- First aid equipment: $1,000 to $1,400
- Anytime Fitness Express center
- Fitness equipment: $4,200 to $80,000
- Tanning equipment: $5,000
- Global access equipment: $1,600 to $20,000
- First aid equipment: $1,000 to $1,400
Furniture and Supplies
You would also need furniture and supplies to complete your club’s furnishings. You should settle the payment before the opening of the franchise.
Expect to spend around $4,900 to $5,900 for a standard center and $3,000 to $5,000 for an express unit.
Other Opening Costs
The initial investment for an Anytime Fitness franchise also includes the following:
- Standard Anytime Fitness center
- Fitness class kiosk: $8,500
- Interior signs: $300 to $5,300
- Outside signs: $650 to $13,000
- Pre-sale/grand opening advertising: $10,000 to $20,000
- Insurance: $2,500 to $2,800
- Legal and accounting expenses: $500 to $4,500
- Club management software: $500
- Miscellaneous opening costs: $2,000 to $2,500
- Anytime Fitness Express center
- Fitness class kiosk: None
- Interior signs: $300 to $5,300
- Outside signs: $650 to $13,000
- Pre-sale/grand opening advertising: $8,000 to $13,000
- Insurance: $2,200 to $2,400
- Legal and accounting expenses: $500 to $4,500
- Club management software: $500
- Miscellaneous opening costs: $1,600 to $2,100
You’d also have to secure an additional fund that could cover the first three months of operation. Prepare around $47,000 to $65,000 for a standard center and $34,000 to $56,000 for an express type.
Additional Fees
Aside from the startup costs, you would have to pay the following fees once your franchise starts operating:
- Royalty fee: $549 per month for standard centers, $449 per month for express centers
- General advertising fee: $300 per month
- Grand opening program: Minimum of $10,000 for standard centers
- Construction document review fee: $2,700
- Ongoing fees for Healthy Contributions Reimbursement Program: $5 per Reimbursement Program per month
- Charitable contribution: $100 per month
- Inspection fee: $50 to $100
- Peer compliance default fee: Up to $1,000 per violation
- Standard default fee: Up to $250 per violation
- Additional assistance: $500 per day plus travel costs
- Annual conference fee: $419 (for early registration)
- Participation fee: Up to $1,200 for each year that the franchise owner fails to complete $1,200 continuing education credits
- Training no-show fees: $200
- Customer service webinar: $250
- Renewal fee: $4,000 to $4,500
- Transfer fee: $5,000 to $10,000
- Relocation fee: $1,500
- Liquidated damages: $10,000
- Insurance/bond handling fees: $100
Training
If you’re not confident of your business handling skills, Anytime Fitness would support you through their training program. For instance, there is a mandatory one-week course you should take at their corporate office in Minnesota.
After the initial training, you would also receive daily or weekly assistance through phone calls, onsite visits, and e-mail communications, among others.
Following are the costs:
- Standard Anytime Fitness center
- Travel and living expenses while training: $3,000 to $3,600
- Training suite: $9,000
- Anytime Fitness Express center
- Travel and living expenses while training: $3,000 to $3,600
- Training suite: $4,800 to $5,000
Note that there is no additional cost for training after the initial one-week program.
Requirements to Become an Anytime Fitness Franchise Owner
To become an Anytime Fitness franchise owner, you need to the following financial requirements:
- Liquidity: $100,000
- Net worth: $300,000
Aside from the financial capability, you should also have the experience necessary in running a business.
Financing
Hundred thousand dollars on fitness equipment? No problem. The company has relationships with third-party financing agencies. The latter would provide assistance to cover the startup costs from the franchise fee to the payroll.
For instance, Green Capital Credit offers franchise and working capital financing that could aid you on the initial investment and operations.
With financial back-up and a passion for business, you’re sure to go a long way. Good luck!