Starting an F45 Training franchise in Canada involves several steps and financial considerations. Here’s an overview of the process:
1. Financial Requirements:
- Liquid Capital: You’ll need a minimum of $300,000 in liquid assets.
- Franchise Fee: The initial franchise fee is $50,000.
- Total Investment: The total initial investment typically ranges from $313,200 to $485,100. This includes costs for equipment, signage, and initial marketing.
2. Ongoing Fees:
- Royalty Fee: A monthly royalty fee of 7% of gross sales or $2,500, whichever is higher.
- Brand Fund Fee: A monthly brand fund fee of 2% of gross sales or $200, whichever is higher.
- Marketing Fee: A monthly marketing fee of $2,500.
3. Studio Requirements:
- Space: You will need a commercial space of at least 170 square meters (1,830 square feet) to accommodate the studio.
4. Support and Training:
- Induction Program: Comprehensive training on F45’s systems, franchise management, and fitness methodologies.
- Ongoing Support: Continuous education in marketing, sales, and business operations, as well as access to marketing assets.
- Owner Meetings: Participation in divisional, state, and national owner meetings to stay connected with the brand.
- Support Desk: 24/7 operational support.
5. Steps to Open an F45 Franchise:
- Application: Submit an application to F45, including details about your financial background and business experience.
- Approval: F45 will assess your application and, if approved, offer a franchise agreement.
- Training: Complete the required training programs to familiarize yourself with the brand and operations.
- Setup: Establish your studio location, adhering to F45’s specifications.
- Launch: Open your studio to the public, using F45’s marketing strategies to attract members.
Disclaimer:
The information provided here is for general informational purposes only and may not reflect the most current data. Prospective franchisees should conduct thorough research and consult directly with F45 Training for the most accurate and up-to-date information.