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FDD Talk 2013: Annual Projected Revenues, Operating Expenses, and Operating Income for an Anytime Fitness Express Center (2013 FDD)

Last updated on May 22, 2013 by Franchise Chatter Leave a Comment
in Fitness Franchises, Franchise Earnings

Highlights of Anytime Fitness’ Item 19 Financial Performance Representations (2013 FDD) for Anytime Fitness Express

  • Anytime Fitness had 44 Anytime Fitness Express clubs open for at least 12 months as of February 28, 2013.
  • The average number of members at these clubs as of that date was 526.
  • 18 of the 44 clubs that were open for at least 12 months as of February 28, 2013 (41%) had 526 or more members, and 26 (59%) had less than 526 members.

Preliminary Notes for Statements of Annual Projected Revenues and Earnings for an Anytime Fitness Express Center

  • The following are statements of projected annual revenues and earnings for a franchised Anytime Fitness Express center.
  • These projections are for a second year of operation. They assume that at the end of the first year you have a fixed number of memberships, and, even though most of the clubs continue to increase their memberships after the first year, that you remain at that level for the entire year, adding as many new members as the numbers that leave. (During the first year, it will take you time to build your member base.)
  • Anytime Fitness has listed below three projections, one based on a center having 350 members, one based on 526 members, and one based on 650 members.
  • They are based on revenue information provided by the designated billing processor for the 44 Anytime Fitness Express franchisees that operated during all of the 12 months ended February 28, 2013, and from the franchisor’s experience operating Anytime Fitness centers
  • The first example, for a 350-member club, is intended to give you an idea of the revenues, expenses, and projected income of a club that performs well below the average, but is still profitable.
  • Of the 44 Anytime Fitness Express clubs open for at least 12 months as of February 28, 2013, 36 (82%) had over 350 members as of February 28, 2013.
  • The 526-member example will give you an idea of the revenues, expenses, and projected income of a club that is able to maintain throughout the year the same number of members as the average number of members of Anytime Fitness clubs that were open for at least 12 months as of February 28, 2013 (a relatively strong time of year for club memberships).
  • Of the 44 Anytime Fitness Express clubs open for at least 12 months as of February 28, 2013, 18 (41%) had over 526 members as of February 28, 2013.
  • The 650-member example will give you an idea of the revenues, expenses, and projected income of a high achieving club.
  • Of the 44 Anytime Fitness Express clubs open for at least 12 months as of February 28, 2013, 13 (30%) had over 650 members as of February 28, 2013.

Revenue, Expense, and Profit Assumptions for Anytime Fitness Express Clubs 

  • Anytime Fitness New Club Interior


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    Enrollment fee revenues/cost of proximity cards:
      Anytime Fitness assumes that 45% of members will be replaced through attrition (which is in line with the industry average). The average enrollment fee is $49.
  • Membership revenues: Based on the report from Anytime Fitness’ designated processor, the average monthly membership fee paid under each membership agreement was $43.45, and each franchisee had 75% as many membership agreements in effect as members. In other words, if you have 350 members, on average, you could expect to have 262 memberships, with approximately 75% of those memberships being individual memberships, and 25% of those memberships being couples (or family or multiple) memberships.
  • Vending revenues:  This is based on the per membership revenues that Anytime Fitness’ corporate-owned clubs receive from vending.
  • Rent: The assumption is for 2,900 square feet of space, with the gross rent paid being $13.76 per square foot per year.
  • Equipment:  This amount assumes you enter into a 3 year lease purchase agreement for your equipment, paying approximately 15% down, and financing the balance (estimated balance: $85,000).
  • Processing and credit card fees:  5.5% of membership fees
  • Bad debts:  3.6% of membership fees
  • Utilities:  $4.40 per square foot, and includes gas, electric, water, cable, Internet, and telephone
  • Advertising Funds:  $300 per month to the General Advertising Fund
  • Local Advertising:  $4,000 (minimum)
  • Anytime Health:  Franchisees will be selling Anytime Health (web-based services) memberships and will keep everything charged above $0.50 for individual members, and $1.00 for couples or family memberships.  Maximum amount franchisees pay for these memberships:  $225 per month ($675 if you own 3 or more centers)
  • Miscellaneous expenses:  This line item includes janitorial services, legal and accounting fees, cell phone, supplies, licenses, and other similar items.
  • Salaries:  The projection assumes you act as manager of your center and do not receive a separate salary. Anytime Fitness has therefore not included any additional expense for salary. Because Anytime Fitness Centers are designed to operate 24 hours a day without the necessity of having staff on premises, you should not need any other employees. However, some states or municipalities may require you to have an employee on premises whenever your center is open. If you are an absentee-owner, or you operate in a location that requires the center to be staffed at all times, your expenses will increase significantly because you will have to pay salaries and benefits to employees.


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