In this exclusive Franchise Chatter FDD Talk post, you’ll learn the following:
Section I – Estimated initial investment (franchise costs) for a GymGuyz franchise, based on Item 7 of the company’s 2023 FDD
Section II – Initial franchise fee, royalty fee, and marketing fee for a GymGuyz franchise, based on Items 5 and 6 of the company’s 2023 FDD
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Section IV – News updates on the GymGuyz franchise opportunity
Section V – Presentation and analysis of GymGuyz’ financial performance representations (average revenues and/or profits), based on Item 19 of the company’s 2023 FDD, including information on the:
- 2022 average, median, highest, and lowest gross sales generated per full-time equivalent trainer for GymGuyz’ 3 affiliate-owned locations that were open for 12 months or longer as of December 31, 2022
- 2022 average, median, highest, and lowest gross sales generated per full-time equivalent trainer for GymGuyz’ 2 affiliate-owned locations that were open for 24 months or longer as of December 31, 2022
- 2022 average, median, highest, and lowest gross sales generated per full-time equivalent trainer for GymGuyz’ 81 franchised locations that were open for 12 months or longer as of December 31, 2022 and submitted complete reporting
- 2022 average, median, highest, and lowest gross sales generated per full-time equivalent trainer for GymGuyz’ 69 franchised locations that were open for 24 months or longer as of December 31, 2022 and submitted complete reporting
Section VI – Key ratios, comparables, computations, and analyses for the GymGuyz franchise opportunity (exclusive content for Platinum subscribers)
Section I – GymGuyz Franchise Costs
- GymGuyz franchise costs, based on Item 7 of the company’s 2023 FDD:
- Initial Franchise Fee: $44,500
- Computer System: $500 to $1,000
- Insurance: $2,500 to $4,000
- Permits and Licenses: $0 to $500
- Equipment: $0 to $6,000
- Marketing Materials: $0 to $4,500
- Initial Marketing Funds: $11,500 to $31,500
- Travel Expenses for Training: $100 to $2,500
- Vehicle: $2,500 to $7,500
- Professional Fees: $500 to $2,000
- Apparel: $0 to $500
- Additional Funds for 3 Months: $20,500 to $43,000
- Total Estimated GymGuyz Franchise Costs: $82,600 to $147,500
Section II – GymGuyz’ Initial Franchise Fee, Royalty Fee, and Marketing Fee
- GymGuyz’ initial franchise fee, royalty fee, and marketing fee, based on Items 5 and 6 of the company’s 2023 FDD:
- Initial Franchise Fee: $44,500
- Royalty Fee: 6% of Gross Sales or $300 per 2 weeks ($400 per 2 weeks for Territories in excess of 31,000 qualified households), whichever amount is greater. Minimums are subject to an initial 90-day grace period (starting the Monday after you complete GymGuyz University training).
- Brand Development Fee: 2% of Gross Sales or $40 per 2-week period, whichever is greater, subject to an initial 90-day grace period (starting the Monday after you complete GymGuyz University training).
- Advertising Cooperative: as determined by the cooperative, up to 2% of monthly Gross Sales
Section III – Number of Franchised and Company-Owned GymGuyz Outlets
Franchised
2020
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- Outlets at the End of the Year: 110
- Net Change: -22
2021
- Outlets at the Start of the Year: 110
- Outlets at the End of the Year: 95
- Net Change: -15
2022
- Outlets at the Start of the Year: 95
- Outlets at the End of the Year: 109
- Net Change: +14
Company-Owned
2020
- Outlets at the Start of the Year: 1
- Outlets at the End of the Year: 2
- Net Change: +1
2021
- Outlets at the Start of the Year: 2
- Outlets at the End of the Year: 3
- Net Change: +1
2022
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When I owned a UPS Store, I learned firsthand how much your ZIP code shapes your outcome. I sold my store at a premium because my territory was in a high-value area. The best areas go first, and once they're gone, they're gone. Enter your ZIP code to see which franchises are still available near you, saving you months of wasted research.📈Dreaming of Multi‑Unit Success? Lock In Prime Territories Before They're Gone.
Colin started as a team member at 21 and now owns 6 locations in Tampa Bay. Lisa came from marketing and built 21 in San Diego. The most successful multi-unit owners move early and secure markets with room to grow. Use our free tool to search multiple ZIP codes and find franchises where you can still stack locations, before someone else does.- Outlets at the Start of the Year: 3
- Outlets at the End of the Year: 3
- Net Change: 0
Section IV – News Updates on the GymGuyz Franchise
Section V – Financial Performance Representations (Average Revenues and/or Profits) for the GymGuyz Franchise (Item 19, 2023 FDD)
- GymGuyz’ Affiliate Owned and Franchised locations provide mobile fitness services.
- The below results show Gross Sales performance on an average per trainer basis, to account for differences in the demographics and makeup of different service areas.
- Many of GymGuyz’ trainers and its franchisees’ trainers are employed on a part-time basis. GymGuyz’ Gross Sales performance measurements are based on a full-time equivalent (FTE) trainer calculation.
- All hours paid to a trainer, including direct client training sessions, travel time, equipment maintenance, and administrative duties, are recorded by each trainer. A full-time employee at forty hours per week would work 2,080 hours in a year.
- GymGuyz’ FTE calculation is the mathematical result of dividing the total hours recorded by all trainers in a location by 2,080 hours to convert the total hours into a number of FTE trainers for each location. Average Gross Sales per FTE Trainer is the mathematical result of dividing total Gross Sales by the resultant number of FTE Trainers.
Part 1 – Gross Sales per FTE Trainer for Company-Owned Locations Open 12 Months or Longer
- As of December 31, 2022, GymGuyz’ Affiliate had three locations in operation, servicing Long Island, New York. The three locations are representative of the franchise offered.
- Affiliate Owned Location 1 has been in continuous operation since 2008, Affiliate Owned Location 2 has been in continuous operation since 2020, and Affiliate Owned Location 3 has been in continuous operation since 2021.
- Part 1 demonstrates the average 2022 Gross Sales generated per FTE trainer for GymGuyz’ three Affiliate Owned locations that were open for 12 months or longer as of December 31, 2022.
- Number of Locations: 3
- Average Location: $101,300
- Highest Location: $149,836
- Lowest Location: $75,478
- Median Location: $78,587
- Number of Locations Meeting or Exceeding Average: 1
- Percent of Locations Meeting or Exceeding Average: 33.3%
- Based on its experience, GymGuyz believes that it takes 24 months for a location to reach full maturity and for its Gross Sales results to be fully representative, since during the first year a location is developing and growing its client base.
- Of the 3 Affiliate Owned locations open for 12 months or more as of December 31, 2022, 2 Affiliate Owned locations had been open for 24 months as of December 31, 2022.
Part 2 – Gross Sales per FTE Trainer for Company-Owned Locations Open 24 Months or Longer
- Part 2 demonstrates the average 2022 Gross Sales generated per FTE trainer for GymGuyz’ 2 Affiliate Owned locations that were open for 24 months or longer as of December 31, 2022.
- Number of Locations: 2
- Average Location: $114,212
- Highest Location: $149,836
- Lowest Location: $78,587
- Median Location: $114,212
- Number of Locations Meeting or Exceeding Average: 1
- Percent of Locations Meeting or Exceeding Average: 50%
Part 3 – Gross Sales per FTE Trainer for Franchisee-Owned Locations Open 12 Months or Longer
- As of December 31, 2022, GymGuyz had 109 franchised locations. Of the 109 total franchised locations, 18 were open for less than 12 months as of December 31, 2022. Ten locations submitted incomplete reporting thus are not included. The remaining 81 locations were opened for 12 months or longer as of December 31, 2022 and presented complete reporting.
- Part 3 demonstrates the average 2022 Gross Sales generated per FTE trainer for these 81 locations.
- Number of Locations: 81
- Average Location: $100,966
- Highest Location: $240,704
- Lowest Location: $1,056
- Median Location: $101,975
- Number of Locations Meeting or Exceeding Average: 20
- Percent of Franchisees Meeting or Exceeding Average: 22%
Part 4 – Gross Sales per FTE Trainer for Franchisee-Owned Locations Open 24 Months or Longer
- Based on its experience, GymGuyz believes it takes 24 months for a location to reach full maturity and for its Gross Sales results to be fully representative, since during the first year a location is developing and growing its client base.
- Of GymGuyz’ 109 locations, 79 had been open for 24 months as of December 31, 2022. Ten locations submitted incomplete reporting thus are not included. The remaining 69 locations were open for 24 months or longer as of December 31, 2022 and submitted complete reporting.
- Part 4 demonstrates the average 2022 gross sales generated per FTE trainer for these 69 locations.
- Number of Locations: 69
- Average Location: $101,441
- Highest Location: $240,704
- Lowest Location: $7,790
- Median Location: $99,908
- Number of Locations Meeting or Exceeding Average: 17
- Percent of Locations Meeting or Exceeding Average: 22%
- Some outlets have earned this amount. Your individual results may differ. There is no assurance you’ll earn as much.
- Gross Sales are defined as the total selling price of all services and products and all income of every other kind and nature related to the GymGuyz business, whether for cash or credit and regardless of collection in the case of credit. Gross Sales expressly excludes taxes collected from customers and paid to the appropriate taxing authority, and customer refunds or adjustments.
Section VI – GymGuyz Franchise Ratios, Comparables, Computations, and Analyses (Exclusive Content for Platinum Subscribers) ⬇️
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