Top 250 Franchise by Entrepreneur – Rank no. 35 – Snap Fitness Inc. – US
Products & Services: 24-hour fitness center
Number of Locations: 1,376
Total Investment: $108.23K – 258.14K
Began Franchising: 2004
About Snap Fitness Inc.
Before Peter Taunton founded Snap Fitness Inc. in 2003, he was a professional racquetball player and owned and operated five fitness centers in Minnesota. Taunton’s vision for Snap Fitness was to offer patrons a convenient and affordable place to work out 24 hours a day. The company began franchising in 2004, and is currently expanding globally.
Startup Costs, Ongoing Fees and Financing
Franchise Fee: $19,500
Ongoing Royalty Fee: $449/mo.
Term of Franchise Agreement: 5 years, renewable
Net Worth: $250,000
Liquid Cash Available: $50,000
40% of all franchisees own more than one unit. Number of employees needed to run franchised unit: 1 – 1. Absentee ownership of franchise is allowed. (20% of current franchisees are owner/operators).
|FINANCING TYPE||IN-HOUSE||THIRD PARTY|