|
Below is an in-depth analysis and side-by-side comparison of My Gym Children's Fitness Center vs 30 Minute Hit including start-up costs and fees, business experience requirements, training & support and financing options.
Start-Up Costs and Fees |
||
Investment | $36,760 - $277,200 | $100,550 - $165,500 |
Franchise Fee | $25,000 - $55,000 | $40,000 |
Royalty Fee | 7%-8% | $500-$900/mo. |
Advertising Fee | 1% | - |
Year Founded | 1983 | 2004 |
Year Franchised | 1995 | 2006 |
Term Of Agreement | 12 years | - |
Term Of Agreement | 12 years | - |
Renewal Fee | - | - |
Business Experience Requirements |
||
Experience | - | |
Financing Options |
||
In-House/3rd Party | In-House/3rd Party | |
Franchise Fees | No/Yes | -/- |
Start-up Costs | No/Yes | -/- |
Equipment | No/Yes | -/- |
Inventory | No/Yes | -/- |
Receivables | No/No | -/- |
Payroll | No/No | -/- |
Training & Support |
||
Training | On-The-Job Training: 40 hours Classroom Training: 19 hours | 5 days of Physical Training/Trainer Certification, including CommunHITy integration conducted in Vancouver, Canada, 2 days of onsite Admin and Sales training. 2 Remote follow up sessions, bi-weekly Remote group training and support sessions. Annual SummHIT meeting in Vancouver, Canada. |
Support | Purchasing Co-ops Newsletter Meetings/Conventions Grand Opening Online Support Security/Safety Procedures Field Operations Site Selection Proprietary Software Franchisee Intranet Platform | Web based Interactive Operations Guide and Management tools to give you instant access to all the information you need to run and grow your business, anytime, anywhere. Your HIT Dashboard includes: Operations Guide, Training Guide, Support Centre, Leads Manager, Leads Booking System, Member Manager, Franchisee Communications Centre, Email Marketing Manager, Resource Centre, Statistics Centre, Staff Manager, Webcam viewer, and much much more! All this at your fingertips no matter where your are! |
Marketing | Co-op Advertising Ad Templates National Media Regional Advertising Social media SEO Website development Email marketing | - |
Operations |
20% of all franchisees own more than one unit Number of employees needed to run franchised unit: 6 - 10
Absentee ownership of franchise is allowed. (100% of current franchisees are owner/operators) | - |
Expansion Plans |
||
US Expansion | Yes | - |
Canada Expansion | No | - |
International Expansion | Yes | - |