- Franchise 500 Rank
-
N/R Not ranked last year
- Initial investment
-
$229K - $299K
- Units as of 2020
-
2 0.0% over 3 years
Founded in 2016, Gym Skills offers various classes, including gymnastics, ninja, tumbling, and cheer, to children. Gym Skills aims to help children lead a more active and healthy lifestyle by creating programs that enhance their development.
Gym Skills has been franchising since 2020 and provides franchisees with various franchise options, including traditional brick-and-mortar and mobile options.
Why You May Want To Start a Gym Skills Franchise
The Gym Skills franchise model is based on what they believe matters most: the children. If you like to be part of a group of people who want to make a difference in children's lives, opening a Gym Skills franchise could be an excellent opportunity for you. Although Gym Skills prefers that potential franchisees have experience in gymnastics or have a background in fitness center operations, it offers a comprehensive training program designed for any motivated franchisee.
Opening a Gym Skills franchise may offer a more predictable outcome than investing in a completely new brand that could struggle to thrive in an already crowded and competitive industry.
What Might Make a Gym Skills Franchise a Good Choice?
Gym Skills is a gym franchise whose areas of operations may already be established. All the policies and procedures have been established, and Gym Skills says it will provide continuous support. Franchisees are in charge of day to day operations of their Gym Skills franchise. Franchisees should be hardworking, enjoy children, and be personable, as they interact with the public daily.
To be part of the Gym Skills franchise team, you should make sure you're financially ready for an initial investment made up of a franchise fee and other startup costs. In addition, you should prepare yourself for ongoing fees that will include advertising, royalty, and potential renewal fees. Franchisees will also need to meet the company's set net worth and liquid capital requirements.
How To Open a Gym Skills Franchise
First, you should conduct a self-evaluation to determine whether opening a Gym Skills franchise is right for you. A franchise agreement is a legal document. As such, after signing, you become obligated to run your business according to the system used by the Gym Skills corporate team.
As you decide if opening a Gym Skills franchise is the right move for you, make sure you take time to explore the opportunity. Research the brand and your local area to see if a Gym Skills franchise would do well in your community. While competition is healthy, too much of it may not allow for the most possible growth.
If awarded a franchise, franchisees may receive support from the Gym Skills brand throughout the franchising process. In addition to pre-opening training, franchisees may receive support with the grand opening, site selection, and marketing. Potential Gym Skills franchisees may also receive hands-on training and continued support after their franchise location has opened to ensure that the classes are taught the proper Gym Skills way.
It may be a good idea to speak with an attorney or financial advisor to ensure that you have the necessary financial resources to own and operate a Gym Skills franchise.
Company Overview
About Gym Skills
| Industry | Children's Businesses |
|---|---|
| Related Categories | Children's Fitness Programs, Miscellaneous Recreation Businesses, Children's/Family Entertainment |
| Founded | 2016 |
| Leadership | Kenneth W. Crump, CEO |
| Corporate Address |
710 Cross Pointe Rd. Gahanna, OH 43230 |
Business Overview
| Franchising Since | 2020 (5 years) |
|---|---|
| Where seeking |
This company is offering new franchises in the following US states: This company is offering new franchises in the following international regions: |
| # of Units | 2 (as of 2020) |
|
|
|
Information for Franchisees
Here's what you need to know if you're interested in opening a Gym Skills franchise.
Financial Requirements & Ongoing Fees
Here's what you can expect to spend to start the business and what ongoing fees the franchisor charges throughout the life of the business.
|
Initial Franchise Fee
|
$37,500 |
|---|---|
|
Initial Investment
|
$228,650 - $298,500 |
|
Net Worth Requirement
|
$37,500 |
|
Cash Requirement
|
$37,500 |
|
Royalty Fee
|
7% |
|
Ad Royalty Fee
|
1% |
|
Term of Agreement
|
10 years |
| Is franchise term renewable? | Yes |
Financing Options
Some franchisors offer in-house financing, while others have relationships with third-party financing sources to which they refer qualified franchisees.
| Third Party Financing | Gym Skills has relationships with third-party sources which offer financing to cover the following: franchise fee, startup costs, equipment, inventory, accounts receivable, payroll |
|---|
Training & Support Offered
Franchisors offer initial training programs and a variety of ongoing support options to help franchisees run their businesses.
| On-The-Job Training | 8 hours |
|---|---|
| Classroom Training | 14 hours |
| Ongoing Support |
Grand Opening
Site Selection
|
| Marketing Support |
Social Media
|
Operations
Additional details about running this franchise.
| Is absentee ownership allowed? | No |
|---|---|
|
Can this franchise be run from home/mobile unit?
|
No |
|
Can this franchise be run part time?
|
No |
|
Are exclusive territories available?
|
Yes |
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