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FDD Talk 2019: Workout Anytime Franchise Review (Financial Performance Analysis, Costs, Fees, and More)

Last updated on September 5, 2019 by Franchise Chatter Leave a Comment
in FDD Talk 2021: 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 2019 FDD
  • Section III – Initial franchise fee, royalty fee, marketing fee, and other fees for a Workout Anytime franchise, based on Items 5 and 6 of the company’s 2019 FDD
  • Section IV – Number of franchised and company-owned Workout Anytime outlets at the start of the year and the end of the year for 2016, 2017, and 2018, based on Item 20 of the company’s 2019 FDD
  • Section V – Presentation and analysis of Workout Anytime’s financial performance representations, based on Item 19 of the company’s 2019 FDD, including information on the:
  • 2018 average, median, highest, and lowest gross revenue for the 135 franchised Workout Anytime clubs that were in operation for the entire 12-month period ending on December 31, 2018

Section I – Background Information

15 Things You Need to Know About the Workout Anytime Franchise

Celebrates New Openings and New Markets

America's Most Lucrative Franchises of the Year

1.  Workout Anytime hit the ground running at the start of 2019 and hasn’t slowed down since. Within the first quarter of 2019, Workout Anytime celebrated eight new openings, including three in new markets, for a franchise system 170-plus units strong.

2.  In Q1, Workout Anytime grew its system with the opening of the following locations: Lake Worth, Texas operated by franchisees Jim & Faith Beatty; Anniston, Alabama operated by franchisee Dr. Sanjeev Saxeena; Ooltewah, Tennessee operated by franchisees Scott and Tara Shepherd; Elizabethton, Tennessee operated by franchisees Jim and Charity Smith; and Brunswick, Georgia, operated by the CAPE group.

3.  Additionally, the burgeoning brand entered the Arkansas, Oklahoma, and Idaho markets, with new locations launching in Paragould, Arkansas via franchisees Howie Freeman and Kevin Long; in Durant, Oklahoma via franchisee Rana Pawan; and in North Boise, Idaho via franchisees Chris and Bobbi Gately.

4.  Workout Anytime has seen impressive franchise sales growth and increasing club membership numbers thanks to its all-access offering within a $31 billion fitness industry. Mark de Gorter, chief operating officer of Workout Anytime, said, “Fitness continues to grow at a faster rate than almost any other segment in the franchise industry. In 2018, we saw a significant system-wide increase in membership growth, and with the strong momentum created in 2018, we expect that number to be even higher in 2019 as we move past the 200-club threshold.”

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5.  2018 was a great year for the brand: Workout Anytime entered one of the largest and most competitive markets in the U.S. – Texas – and closed out the year having opened 14 new units in the Lone Star State. Randy Trotter, vice president of development for Workout Anytime, said that he attributes the brand’s momentous franchise development to the high-value, low-price nature of its model.

6.  Trotter added, “If you look at the fastest-growing concepts in the fitness space, they are the high-value, low-price concepts and the boutique concepts. We’ve married these to serve clients in the best way possible. As a 24-hour fitness club with all of the elements of a boutique concept within our gym, our unique setting is the best of both worlds.”

7.  Eager to partner with multi-unit franchisees who understand the brand and are passionate about continued growth, Workout Anytime has its eye on expanding franchise development opportunities to qualified candidates in target markets including Florida, southern Georgia, Louisiana, Arkansas, Missouri, Kansas, and Colorado.

8.  According to de Gorter, “We have all of the pieces in place for continued franchise growth, and we’re excited to keep building on the momentum we’ve created. Our clubs offer the basic fundamentals in fitness – progressive resistance training, cardio training and free weights, as well as adding important, on-trend concepts like small group training and high-intensity interval training. Our franchise sales have kept pace with prior years, and our approach to looking for strong, locally-based franchise partners that are hometown heroes in their community further underscores the strength of our concept.”

Franchises Ranked by Average Revenues and Profits

9.  On a final note, Trotter said, “Fitness is now a recognized, natural component to people’s lives. We’re committed to making fitness accessible to all as we continue to grow nationwide, and our success in Q1 has us optimally positioned for strong franchise development going forward.”

Sets Goal to Open 12 Facilities in One of the “Fattest Cities in America”

10.  In mid-June 2019, Workout Anytime came across Wallethub’s study on the fattest cities in America and the factors that are fueling the affected areas. According to Wallethub’s report, the Hidalgo County area of Texas, specifically Edinburg, McAllen, and Mission, were ranked as the fattest cities in the country. After reading the study, Workout Anytime immediately set a goal to help keep the area’s “future wellness in mind” by opening 12 new facilities across the area within the next four years.

11.  Randy Trotter, senior vice president of development for Workout Anytime, mentioned that offering a high-value, low-price gym to underserved markets will be most ideal for people who don’t want to pay a lot of money in order to have access to a gym. Trotter has found that people do not want to pay a lot of money for amenities they don’t use. Since Workout Anytime is a low-price gym, it makes people more motivated to sign up for a month-to-month contract.

12.  There is also a “hometown hero” program which provides franchise fee discounts for those who qualify to become a potential owner of a Workout Anytime in the area. Trotter added, “With our memberships, it does open it up to more of the population because of the affordability.”

Company History

13.  Workout Anytime was founded in 1999 by Steven Strickland and John Quattrocchi in Douglasville, Georgia, a suburb of Atlanta. Both Strickland and Quattrocchi had experience in the fitness industry – Strickland was a fitness trainer and club salesman in the late 1970s and went on to Nationwide Fitness Center at the age of 24; Quattrocchi, who had served in the Air Force, had managed numerous franchised health clubs throughout the Southeast. Eventually, Strickland and Quattrocchi became business partners and set out to start their own fitness brand.

14.  After five years of success and development of the model, Strickland and Quattrocchi began franchising the concept through Workout Anytime Franchising Systems, LLC in 2004. The first franchised Workout Anytime gym opened in 2006 and by 2014, there were over 50 locations in the United States. Growth has picked up since then and Workout Anytime has tripled its number of units across the country. Today, Strickland and Quattrocchi remain with Workout Anytime as CEO and president, respectively.

Entrepreneur’s Franchise 500

15.  Workout Anytime ranked No. 263 on Entrepreneur’s 2019 Franchise 500 list.

Section II – Estimated Costs

  • Please click here for detailed estimates of Workout Anytime franchise costs, based on Item 7 of the company’s 2019 FDD.

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

  • Please click here for detailed information on Workout Anytime’s initial franchise fee, royalty fee, marketing fee, and other fees, based on Items 5 and 6 of the company’s 2019 FDD.

Section IV – Number of Franchised and Company-Owned Outlets

Franchised

2016

  • Outlets at the Start of the Year:  87
  • Outlets at the End of the Year:  114
  • Net Change:  +27

2017

  • Outlets at the Start of the Year:  114
  • Outlets at the End of the Year:  142
  • Net Change:  +28

2018

  • Outlets at the Start of the Year:  142
  • Outlets at the End of the Year:  165
  • Net Change:  +23

Company-Owned

2016

  • Outlets at the Start of the Year:  0
  • Outlets at the End of the Year:  1
  • Net Change:  +1

2017

  • Outlets at the Start of the Year:  1
  • Outlets at the End of the Year:  1
  • Net Change:  0

2018

  • Outlets at the Start of the Year:  1
  • Outlets at the End of the Year:  1
  • Net Change:  0

Section V – Financial Performance Representations (Item 19, 2019 FDD) and Analysis

  • The information in this Item 19 was provided to Workout Anytime by the reporting Clubs and the third-party processor. Workout Anytime has not audited or independently verified the data reported to it.
  • Some units have earned as much as these amounts. Your individual results may differ. There is no assurance you will earn as much.

Gross Revenues

  • As of December 31, 2018, there were 165 Workout Anytime franchised units in operation. Of those 165 units, a total of 135 were in operation for the entire 12-month period ending on December 31, 2018.
  • The following is a historical financial performance representation of the gross revenues derived by those clubs.


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