If you are looking to dive into the fitness industry, Workout Anytime Franchise is not only your profitable option but also an affordable one.
Opening a fitness franchise is a great way to break into a booming industry. According to reports, the health and fitness industry in the United States is expected to increase at an annual rate of 10.46% to reach $6.73 billion by 2027.
If these figures have enticed you to invest in the franchise, then read this article to get an understanding of how much Workout Anytime franchise costs, what are the requirements of the franchise and what this fitness center has to offer you.
Table of Contents
About Workout Anytime
The history of Workout Anytime started in the early 1970s with the founders Steve Strickland and John Quattrochi. They have worked with some of the biggest names in the industry, including European Health Spas, Nautilus, Bally’s, and American Fitness Centers.
The industry veterans applied the knowledge and expertise gained throughout the gym industry to develop an innovative business model.
Workout Anytime provides a friendly, convenient, and life-changing experience for the members. The services it offers include a first-class fitness experience, affordable fitness, a sense of community, top-of-the-line equipment, and 24/7 availability.
Over the past 20 years in the industry, Steve and John worked to build their fitness club development formula rooted in quality, value, and convenience.
The Franchise Table Of Workout Anytime
| Cost Or Fees | Amount |
|---|---|
| Initial Investment | $784,950-$2,073,050 |
| Franchise | YES |
| Franchising Since | 2005 |
| Franchise-Fee | $35,000 |
| Royalty-Fee | 6% |
| Liquidity | $250,000 |
| Estimated Outlets | 190+ |
How Much Does It Cost To Open A Workout Anytime Franchise?
To open the Workout Anytime franchise you will require a total investment of approximately $784,950-$2,073,050. This information is based as per the Franchise Disclosure Document of the fitness center.
However, the exact amount depends on several factors, such as the location and size of the club.
Moreover, this cost includes formation cost, operating costs, marketing and advertising cot ans much more.
Franchise Requirements Of Workout Anytime
To open the Workout Anytime franchise, the company expects you to have $250,000 of liquid capital and a net worth of at least $750,000.
According to the company, the franchise partners who have this level of capital are eligible for additional financing.
Additionally, the Workout Anytime location ranges from 5,000 to 12,000 square feet. Their sweet spot is 7,500 square feet, with at least 40 parking spots available.
Once the site has been negotiated, approved and executed, the team of Workout Anytime will assist you in the construction.
The team will provide a comprehensive floor plan and equipment layout as well as an inferior and exterior branding package.
The fitness center also requires its franchise partners to have AirPHX units in their clubs. AirPHX is a continuous air and surface sanitizing system.
It generates cold plasma. This plasma is known to destroy microbial infections, including COVID-19, flu, cold virus, bacteria, athlete’s foot fungus, MRSA, and norovirus.
Workout Anytime Revenue & Profit
Workout Anytime Gym makes $511,628 in turnover per year on average. This information is based on an estimation obtained by dividing the total gross revenue of all Workout Anytime Gyms, which is $85,442,000, by the number of franchises operating in 2021 (167).
This is because Workout Anytime doesn’t provide detailed cost information in its Franchise Disclosure Document (FDD).
Therefore, by crunching the numbers, we estimated that Workout Anytime Franchises make $140,000 in profits per year.
Here’s a breakdown of the annual revenue of the Workout Anytime franchise across 165 locations in 2022.
| Top Third | Mid Third | Low Third | All clubs open 1 year or more | |
|---|---|---|---|---|
| High | 1,366,712,62 | 510,411.76 | 354,570.38 | 1,66,712.62 |
| Median | 684,365,52 | 442,847.87 | 290,862.93 | 442,847.87 |
| Average | 738,996.15 | 440,180.60 | 276,862.93 | 485,346.56 |
| Low | 513,656.07 | 355,956.15 | 158,345.66 | 158,345.66 |
Failure Rate Of Workout Anytime
Franchised Outlets:
| Year | Outlets at the Start of the Year | Outlets at the End of the Year | Net Change |
|---|---|---|---|
| 2020 | 164 | 166 | +2 |
| 2021 | 166 | 167 | +1 |
| 2022 | 167 | 179 | +12 |
For the Franchised outlets:
In 2020, the growth rate was (2)/164×100≈1.2%
In 2021, the growth rate was (1)/166×100≈0.60%
In 2022, the growth rate was (12)/167×100≈7.18%
Company-Owned Outlets:
| Year | Outlets at the Start of the Year | Outlets at the End of the Year | Net Change |
|---|---|---|---|
| 2020 | 1 | 0 | -1 |
| 2021 | 0 | 0 | 0 |
| 2022 | 0 | 0 | 0 |
For the Company-Owned outlets:
- In 2020, the failure rate was (1)/1×100≈100%
- In 2021, the failure rate was (0)/0×100≈Can’t be divided by 0
- In 2022, the failure rate was (0)/0×100≈Can’t be divided by 0
Total Outlets:
| Year | Outlets at the Start of the Year | Outlets at the End of the Year | Net Change |
|---|---|---|---|
| 2020 | 165 | 166 | +1 |
| 2021 | 166 | 167 | +1 |
| 2022 | 167 | 179 | +12 |
For Total outlets:
- In 2020, the growth rate was (1)/165×100≈0.6%
- In 2021, the growth rate was (1)/166×100≈0.60%
- In 2022, the growth rate was (12)/167×100≈7.18%
According to the above-mentioned data, there is no failure rate for franchised outlets as the outlets at the end of the year increased during the span of 3 years.
We can see that the franchised outlets for Workout Anytime grew from 2020 to 2022, showing a growth rate between 1.2%% and 7.18%.
On the other hand, for company-owned outlets, Workout Anytime experienced failure from 2020 to 2022.
Overall, when we combine the data of franchise and company-owned outlets, we can see that the Workout Anytime franchise has expanded in the years 2020-2022, showing a total growth rate between 0.6% and 7.18%
Payback Period Of Workout Anytime
With an investment of $2,073,050 and an estimated yearly profit of $140,000, we can calculate the payback period of Workout Anytime.
So, to find out how long it will take to earn back the initial investment:
- Payback Period = Investment / Yearly Profit = $2,073,050/ $140,000= 14.8 years
- Based on these figures, it will take approximately 14.8 years to pay back the initial investment for Workout Anytime. This time period could be longer or shorter depending on your sales, revenue, and profit figures.
Workout Anytime Franchise Training & Support
One of the most significant benefits of opening a Workout Anytime franchise is the training and support that the franchisor provides to conduct the operations smoothly.
The franchisors provide on-the-job training of 43 hours along with classroom training of 77 hours that will take place at their headquarters.
If you want to cancel either the classroom training, onsite training, or health club opening scheduled at your club’s site, then you must pay a $200 cancellation fee for each scheduled attendee.
As for the support, Workout Anytime Franchise’s real estate and analytics team will help you find the best site for the gym. It will also lead you through the architectural and design process, ensuring that your gym franchise has a well-designed layout and floor plan.
It also provides marketing and sales support in executing a strategic pre-opening marketing campaign.
Workout Anytime also has technology experts who will provide you with tools to communicate with your members and grow your locations, such as email campaigns, website development, lead management software, social media optimization, and website development.
Terms Of Agreement And Renewal Of Workout Anytime Franchise
The initial length of the agreement is 10 years. When the term ends, the company provides an option to obtain an unlimited number of successor franchise terms of 5 years.
You give written notice to the franchisor to exercise your desired option not more than 12 months and not less than 6 months before the end of the prior term.
Workout Anytime Financial Assistance
For financial assistance, each franchise partner is responsible for securing their own finance. The Workout Anytime also has solid relationships with third-party lenders used by many of their franchisees.
However, the fitness center have no rules or restrictions on using their financing sources only. So, if you have a relationship with a lender, you are allowed to work with them, too.
Entrepreneurs considering a venture into the fitness center franchise sector might explore options such as Elixir Muscle Recovery, Jazzercise, Orangetheory, F45 Fitness, and ISI Elite Training Fitness franchises.
Conclusion
So, overall, to own a Workout Anytime franchise, the first step is to get all your finances in place. The franchise requires an initial investment of $784,950-$2,073,050, along with liquid capital of $250,000 and net worth of $750,000.
Moreover, the franchise also helps you in every step, from site selection and construction of the fitness center to website development and marketing.
It also has a team of experts that will provide you with the necessary training and support. So, owning this franchise means that you’ll be a part of a reputed franchise.
But you must check every detail of the franchise before signing the franchise agreement or a Franchise Disclosure Document.
FAQs
How Much Do Gym Franchise Owners Make?
Many franchise owners make $50,000 per year, however, some gym franchise owners have also reported earning $100,000 to $300,000 or more per year,
What Is The Profit Margin Of Workout Anytime Franchise?
Workout Anytime franchise is a profitable franchise. Its profit margin is 34%, which is higher than the industry average profit margin for fitness franchises.
Where Is The Headquarters Of Workout Anytime?
Workout Anytime has its headquarters in Atlanta, Georgia, United States.
Who Founded Workout Anytime?
Workout Anytime was founded in 1999 by fitness industry veterans John Quattrocchi and Steve Strickland. They both still operate and own the company.
How Many Locations Does Workout Anytime Has?
Workout Anytime has 190+ open locations and over 250 gym franchises that are awarded in 22 states and internationally.