Earnings Claims of Top Franchises Revealed

Earnings Claims of Top Franchises Revealed

  • Anytime Fitness
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FDD Talk: The Workout Anytime Franchise Opportunity (Financial Performance Analysis, Estimated Costs, and Other Important Stuff You Need to Know)

by Franchise Chatter on January 13, 2016

in FDD Talk 2017: Fitness Franchises, Fitness Franchises, Franchise Earnings



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In this FDD Talk post, you’ll learn the following:

  • Section I – Background information on the Workout Anytime franchise opportunity, including relevant news updates
  • Section II – Estimated initial investment for a Workout Anytime franchise, based on Item 7 of the company’s 2015 FDD
  • Section III – Presentation and analysis of Workout Anytime’s financial performance representations, based on Item 19 of the company’s 2015 FDD, including information on the:
  • 2014 average, high, and low gross revenue for 40 franchised Workout Anytime clubs that were in operation for the entire 12-month period ending on December 31, 2014
  • 2014 actual gross revenue, cost of goods sold, rent, labor, advertising, insurance, personal training expense, utilities, supplies, and net profit for the 1 affiliate-owned Workout Anytime club that was in operation for the entire 12-month period ending on December 31, 2014

Section I – Background Information

Steven C. Strickland cut his teeth in the fitness industry as a trainer and club salesman in the late 1970s during his undergraduate studies at Clemson University. He excelled, becoming the company’s top producer and was named General Manager at the surprisingly young age of twenty.

By age 24, his early success allowed him to acquire his first health club – Nationwide Fitness Center. The industry took notice, leading to a decade-long partnership with industry leader Health and Tennis Corporation of America (later acquired by Bally Total Fitness). His partnership with that company saw the creation of the Richard Simmons Anatomy Asylum club concept.

In 1991, he joined leading fitness equipment manufacturer Nautilus International, where he once again became a top producer for the company, leading the Southeastern Regional Sales division. In 1995, he founded Commercial Fitness Products, Inc., an equipment distributor based in Atlanta.

These years of experience in club concept design, equipment layout, sales, and operations gave him just the right unique combination of skills required to launch his own chain of fitness clubs.

Meanwhile, John Quattrocchi had distinguished himself first in the Air Force and then in the fitness industry with the European Health Spa chain in the first half of the 1970s. He went on to manage several different fitness franchises in the southeastern U.S. throughout the 1970s and 1980s.

It was in 1999 when Strickland and Quattrocchi joined their prodigious combined experience to launch the unique concept of Workout Anytime. The first location was opened in Atlanta, and franchising began in 2004. The basic idea behind their franchise is a “low overhead, low headache health club” that strives to keep it simple.

With more than 100 locations, here’s how Workout Anytime keeps people pumped up in the highly competitive fitness industry:

Quality

The goal is to provide first-class fitness facilities, and Strickland brings a sharp eye and decades of experience when it comes to choosing equipment. Most of the chain’s equipment is sourced from the world’s premier manufacturer, Matrix Fitness, a company that has received more awards for innovation in the past two years than most companies could hope to win in a decade.

The designs, high-end tubular construction, and superior ergonomics result in a first-class workout experience.

Value

By focusing on high-end equipment that doesn’t break down as often and keeping overhead costs down as much as possible, Workout Anytime’s pricing is surprisingly affordable, even when it comes to working with a personal trainer.

What’s even more surprising from the franchisee’s perspective is how one can offer a first-class fitness club experience at the lowest prices possible and still earn a decent profit.

Convenience

Everyone who works out has their own preferred schedule of when it happens, but what if you want to work out on Thanksgiving Day? Or at 2:30 in the morning? At Workout Anytime, that’s not a problem. The convenience part of their equation means you can literally work out any time you want – that means 24/7, 365 days out of the year — by using a key card for club access.

Section II – Estimated Costs

  • Please click here for detailed estimates of Workout Anytime franchise costs, based on Item 7 of the company’s 2015 FDD.

Section III – Financial Performance Representations (Item 19, 2015 FDD) and Analysis



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