If you’ve ever dreamed of owning your own business in the fitness industry, this is an amazing opportunity to win a Snap Fitness franchise in a location of your choice.  If you know anyone who might benefit from this information, please pass it along.

Let’s Take a Closer Look at the Average Member Numbers, Projected Revenues and Projected Earnings for Snap Fitness Clubs. Click here.

When I was invited by our friends over at Snap Fitness to learn more about an exciting new contest, I immediately said yes and was lucky to get all the details straight from Peter Taunton, the founder and CEO of the company.  I was amazed to learn that the grand prize for this contest includes all costs associated with a new Snap Fitness franchise — from the franchise fee, to the build out costs, equipment, initial rent and working capital — estimated at a value of up to $250,000.

The mechanics of the contest are very simple.  You can enter to win by visiting Peter Taunton’s website and providing your contact information, along with a brief essay explaining why you would make an ideal owner of a Snap Fitness franchise.  (Deadline for submission is August 15, 2011.)

Twenty five semi-finalists will be chosen based on quality of submission. A Snap Fitness review panel will then narrow the field to three finalists.  Spotlight videos for each of them will be posted on the Snap Fitness Facebook page and on Peter Taunton’s website to give the public an opportunity to show their support for the individual they feel is most deserving.  Peter will personally select the winner after an in-person interview with the finalists.

Peter reveals more details in this exclusive interview with Franchise Chatter.

Franchise Chatter (FC): How did the idea for this contest come about?

Peter Taunton: I first had the idea last summer during our first annual Snap Fitness Convention. It was the first time since I started Snap Fitness that I was able to meet with all of our franchise owners from all over the world, and really appreciate the diverse backgrounds and motivations for starting their own business. While the economy is slowly beginning to rebound, there are plenty of qualified, motivated individuals who share a similar dream but may not be in a position financially to take the plunge and purchase a franchise. That’s why I decided that the time was right to harness that energy I felt during the convention and help someone achieve their dream of owning their own business.

FC: What will you be looking for in the essays to select the 25 semi-finalists?

Peter: The semi-finalists will be chosen based on their backgrounds, quality of reasons for wanting to own a small business, and dedication to owning a healthy business.

FC: What advice can you give the contestants on how to approach writing their essays?

Peter: Be yourself. Sometimes when people enter these types of promotions they spend too much time trying to decide what the “right” answer is instead of speaking from the heart. There is no right or wrong answer for wanting to own your own business, and everyone’s reasons will be different. I want to know your story and why you want to own your own business. Don’t over think it.

FC: What is your criteria for selecting the 3 finalists and the ultimate winner?

Peter: We’ve put together an internal panel who will speak personally with all 25 semi-finalists, in order to better understand their background, experience, and motivation for owning a Snap Fitness. While the person who wins this contest doesn’t need to have fitness industry or small business management experience, it should be someone who is responsible, driven, and has the desire to make their business successful. Likewise, we want to make sure that the semi-finalists understand what goes into owning a Snap Fitness franchise. Our systems and processes make it very turnkey, but it still takes hard work. We want to make sure that everyone is on the same page before we decide to partner up.

FC: Are there any net worth considerations in selecting the winner?

Peter: None. Anyone is welcome to enter regardless of their financial status.

FC: Are there any geographic considerations in selecting the winner?  More specifically, do you want the winner to be from a city or town where there are currently no Snap Fitness franchises?

Peter: Location has no bearing on a contestant’s chances of winning. Once a winner is selected, they will meet with our real estate and site development team who will help them determine the best possible location for their Snap Fitness club based on their geographical preference, potential success of the location, and availability of the territory.

FC: Who will select the 25 semi-finalists, the 3 finalists, and the winner?

Peter: The 25 semi-finalists and 3 finalists will be selected by our internal panel, including myself and our COO Gary Findley. The winner will be selected by me personally.

FC: Is this contest open to US residents only?

Peter: For this contest, yes. However, depending on the feedback we receive, this may be a promotion we look into holding internationally as well in the future.

FC: What are the responsibilities of the winner and is the winner expected to be a full time owner/operator?

Peter: There won’t be any set of responsibilities in terms of whether the winner is a full-time owner/operator or chooses to hire a manager. Again, I understand that everyone’s motivation for owning their own business is different. Just because one person dreams of quitting their job and making this their full-time career doesn’t mean that everyone fits that mold. We have plenty of very successful owners who still work full-time jobs aside from owning a Snap Fitness, and that could very well be the path our winner decides to take.  We’re very open to working with the winner to fit his or her needs.

FC: Will the winner have a say in site selection, design and buildout, hiring employees, marketing, etc?

Peter: Absolutely. While we will have our team assist this individual with all of these elements, at the end of the day this will be their business. Our goal is just to set them up for success, and help them accomplish a dream.

Please check back often as I will post regular updates on the contest and hope to cover this exciting promotion every step of the way.

For more information on Snap Fitness, please visit www.snapfitness.com.  For the full details and official rules on the contest, please visit www.snapfitness.com/petertauntoncontest.

Other Posts on Snap Fitness:

• Franchise Chatter’s 10 Franchises with the Best Business Models (and 1 with Possibly THE Worst)
• Franchise Chatter Exclusive:  Q&A with Peter Taunton, Founder and CEO of Snap Fitness
• The Top 3 Fitness Franchises in the US Today:  Jazzercise, Anytime Fitness, and Snap Fitness