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FDD Talk 2017: What You Need to Know About the Fitness Together Franchise Opportunity (Financial Performance Analysis, Costs and Fees)

by Franchise Chatter on June 15, 2017

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

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In this FDD Talk 2017 post, you’ll learn the following:

  • Section I – Background information on the Fitness Together franchise opportunity, including relevant news updates
  • Section II – Estimated initial investment for a Fitness Together franchise, based on Item 7 of the company’s 2017 FDD
  • Section III – Initial franchise fee, royalty fee, marketing fee, and other fees for a Fitness Together franchise, based on Items 5 and 6 of the company’s 2017 FDD
  • Section IV – Presentation and analysis of Fitness Together’s financial performance representations, based on Item 19 of the company’s 2017 FDD, including information on the:
  • 2016 average, median, highest, and lowest annual revenue and same studio average annual revenue increase (2016 over 2015) for the top 10, top third, bottom third, bottom 10, and all 148 Fitness Together studios in the franchise system open as of December 31, 2016 and open for at least 12 months as of January 1, 2016, and the number and percentage that met or exceeded the average

Section I – Background Information

9 Things You Need to Know About the Fitness Together Franchise

New Chief Marketing Officer

1.  In early April, WellBiz Brands, the parent company of Fitness Together, Elements Massage, and FIT36, announced the appointment of Trever Ackerman as Chief Marketing Officer for all three franchise brands. In his new position, Ackerman will oversee marketing, brand development, public relations, as well as other key brand messaging initiatives.

2.  Ackerman says he looks forward to further supporting franchise development and growing each of the brands. Prior to joining WellBiz Brands, Ackmerman served as head of marketing for Les Mills U.S. and held multiple leadership positions in business development, human resources, and marketing at 24 Hour Fitness.

Standing Out From Other Gyms

3.  Fitness Together was started as a way to provide clients with a more personal fitness experience with individual trainers in private suites. According to Fitness Together, four key features have helped the company succeed:

  • Exceptional personal training that combines enthusiasm, knowledge, care, personalization, accountability, and support.
  • Fully-equipped private/semi-private workout suites for sessions that maximize your time by eliminating distractions, not waiting for equipment, and avoiding intimidation.
  • The perfect combination of aerobic exercise and strength training.
  • A common-sense general nutrition program based on scientific research that fuels positive changes and maximizes results.

4.  In addition to the above features, Fitness Together emphasizes that clients receive individually-customized workouts to help them get the results they’re looking for. Each gym is staffed with certified trainers who ensure that clients feel emotionally and physically comfortable with every aspect of their workout regimen.

5.  Another way Fitness Together differentiates itself from a typical gym is that their private workout suites eliminate the embarrassment that sometimes comes from working out in front of others in a fitness club atmosphere.

Company History

6.  The first Fitness Together location was opened in 1983 by Rick Sikorski in Arizona after Sikorski, who was a personal trainer, felt unsatisfied with the level of service and fitness provided by large chain gyms. Sikorski formed Fitness Together Holdings, Inc. and began franchising in 1996.

7.  In the mid-2000s, Sikorski started franchising a second brand, Elements Therapeutic Massage, after entering into a contract with its founder Michele Merhib. Sikorski sold both brands in 2006 to a large private equity firm out of New York. In 2013, Fitness Together Holdings, Inc. changed its name to WellBiz Brands, which remains the parent company of Fitness Together today.

8.  At the height of its success, Fitness Together had over 400 locations in the U.S. with a few international gyms. However, around 2010, the company started closing hundreds of locations. By 2013, all international studios were closed and about 200 units remained opened in the U.S. Today, there are 153 Fitness Together franchises in the U.S.

Entrepreneur’s Franchise 500

9. Fitness Together appeared on Entrepreneur’s annual Franchise 500 list in the first half of the last decade, but has not ranked on the list since 2011. The company’s highest rank was No. 77 in 2007, while its lowest rank was No. 447 in 2011. Fitness Together also ranked No. 41 on Entrepreneur’s Fastest Growing Franchises list in 2008.

Section II – Estimated Costs

  • Please click here for detailed estimates of Fitness Together franchise costs, based on Item 7 of the company’s 2017 FDD (updated).

Section III – Initial Franchise Fee, Royalty Fee, Marketing Fee, and Other Fees

  • Please click here for detailed information on Fitness Together’s initial franchise fee, royalty fee, marketing fee, and other fees, based on Items 5 and 6 of the company’s 2017 FDD.

Section IV – Financial Performance Representations (Item 19, 2017 FDD) and Analysis

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