A franchise is a license that a person buys from a business. This license authorizes you access to the brand name and trademarked items. As a franchise owner, you can use the name of the business, policies, procedures, marketing initiatives, sales tools, and other training resources that the company offers.
Having access to these tools helps any new business owner to grow their business faster. Other businesses have used these strategies and have seen them work. Overcoming failure is one of life’s great lessons, and for Get Going PT founder and CEO Ethan Fleming, it’s been the driving force behind a booming business.
While studying for his Cert III & IV Personal Training qualification, Fleming was set an assignment that tasked him to develop a business plan for a mobile personal training business. When his plan was shot down in flames, labelled “impossible” by his lecturer, the aspiring entrepreneur held strong.
Within 3 years, Fleming has taken his “impossible” business plan and turned it into one of the nation’s fastest scaling operations. Also within that time, the Melbourne-based Get Going PT concept has attracted a cult-like following, attracting a diverse clientele that ranges from reality stars and Young Rich Listers to stay at home mums.
The whirlwind journey has without doubt been on an upward trajectory that has surpassed even the founder’s greatest expectations. In late 2019, the founder and CEO announced the new Get Going PT franchise concept, and have already signed one franchise in 2020.
Franchisees purchase the rights to a specific territory in which they can own and operate under the Get Going PT brand. They will also get all the systems and equipment that the company believes is best required to run a personal training business for themselves, along with a few staff members.
With annual revenue on track to surpass $2m this year, it’s a good time to get in on the action. Fleming revealed he plans to significantly swell the network over the next 12 months, outlining an ambitious nationwide growth target.
If you’re interested in becoming a franchisee with this company, it’s time to Get Going and see some results. By creating tailored programmes that clients love, they make sure clients never lose interest in a long-term fitness plan.
They also offer couples training, corporate fitness and fitness boot camps. Clients can also workout with loved ones, family, friends and colleagues with very exciting training services. Get Going Personal Training is determined to make positive and sustainable change throughout the world. They intend to do this through health and fitness guided by expert male and female personal trainers across Melbourne, Sydney & Brisbane.
Financial Requirements for Opening a Get Going Personal Training Franchise
If you intend to acquire this franchise, here are some important factors to consider.
The total initial investment is the start-up cost required to open a franchise. This particular investment tends to vary based on the franchise you choose. Low investments average around $100,000 while a high investment may reach $1,000,000 or more. Howbeit, Get Going Personal Training Franchise has an average initial investment cost of anywhere from $74,217 to $96,500.
Liquid capital is more or less the cash or assets that can quickly turn into cash. This is very necessary to franchisors because they want to make sure you can sustain opening a good business. If you have enough cash to start and build the business, the chances of you going under are less. Part of being a business owner is proving to the franchisor that you have enough money to cover living expenses and operating expenses as you build your business.
A franchise fee allows the franchisee to use the company’s trademark brand—this is your brand recognition that can be helpful in drawing in clients. Franchise fees tend to vary between companies. Get Going franchise fees range around $22,000 – $34,287.
Royalty fees for Get Going Personal Training franchises typically start at 4% and can be as high as 6%. This fee applies to the gross sales that the business generates. It is an ongoing fee—often paid monthly or quarterly—and sometimes includes additional marketing fees.
Steps to Open a Get Going Personal Training Franchise
When researching a particular franchise opportunity to learn the benefits of purchasing a license, there are several factors that should be examined. You have to look at the process of becoming a franchisee, and if any part of the application process is uncomfortable for the applicant, it may be a sign that they should look elsewhere.
Download Get Going PT Franchising Brochure
Get Going PT starts rather simply. They expect candidates to download their franchising brochure that contains some general information about the chain and the process. From there, the candidate is required to submit an inquiry form containing some basic details about themselves and their level of interest in the opportunity.
Get Going PT Call
The form submitted above will prompt a member of the franchise development team to call the candidate and begin the conversation about becoming a franchisee. Note that this conversation will start with a brief call to allow both parties to get to know one another.
Hence, through this conversation, the franchisor will learn about the strengths and weaknesses of the candidate, along with their prior experience, level of interest in the industry and brand, and their financial status to help paint a clearer picture of the applicant’s qualifications.
Within this time, the franchisor will also disclose more information about their processes and expectations. They will provide the applicant with details regarding their role as a franchisor, as well as expectations that they have for their franchisees.
Have it in mind that if anything disclosed during this call is unappealing to the applicant, it is advisable that they not take the process any further. A factor that is unappealing at the talking stage can turn into an absolute nightmare when it becomes time to actually run the franchise.
After the phone call, Get Going PT will request that the candidate fill out and submit an application. Remember that this application will provide them with all the details they need to make an informed decision regarding the candidate.
Having a look at their financial status and credit history, along with their previous business ownership and operation experience helps them to make a sound decision regarding whether or not to grant a franchise license to the candidate.
They require previous business experiences at either the operational or ownership level to determine that the applicant is experienced enough to handle the pressures of owning one of their franchises. Indeed rookies make mistakes that are often avoidable but can be dangerous to a new business. In hopes of avoiding that, Get Going PT looks for entrepreneurs who are both familiar with business practices, as well as passionate about personal training.
Review the Contract or Agreement
After you’ve been in contact with the franchisor, met the requirements, and have initiated the process of buying into the franchise, you’ll be provided with a formal agreement. This legal contract gives you the right to own and open Get Going PT franchise under the company’s rules and regulations.
However, ensure you carefully go over the agreement so that you understand everything you agree to. If you wish, hire a lawyer with franchise experience to navigate you through the process. If something has been agreed in person, check that it’s been put in the contract.
Organize Your Financing
You are expected to have adequate financing for your franchise for start-up costs and the initial investment. In order to arrange financing, you will need a strong business plan with solid growth projections. As well as the initial investment, you’ll also need to consider how you will be financing new equipment. Will you be buying it brand new or leasing?
Get Going PT provides training and workshops for you and your staff to fully understand the services, products, and systems that you’ll be using. Get Going PT provides on-site training session at their headquarters, at a franchise location or even virtually.
They offer training in marketing, bookkeeping, hiring and managing employees and even negotiating with suppliers. From the training sessions, you should be fully aware of any policies and guidelines that are in place.
Start and Promote your Business
Note that you may have to dedicate a big chunk of your first year’s marketing budget to the grand opening of your Get Going PT business. Get Going PT will definitely help with this as you can learn from what’s worked in the past. Also remember to promote the event through social media as well as word-of-mouth marketing. Don’t forget the balloons, banners, and signs to make sure the day attracts a lot of attention.
Get Going PT is a mobile fitness concept based in Melbourne, with a dedicated team of district leaders, trainers and instructors. With annual revenue on track to surpass $2m this year, it’s a good time to get in on the action. The CEO has revealed he plans to significantly swell the network over the next 12 months, outlining an ambitious nationwide growth target.
- Can Sole Traders Get Business Grants in Australia? - March 15, 2021
- 12 Best Burger Franchise Opportunities in Australia and Their Cost - February 15, 2021
- How to Start a Property Development Business in Australia - February 15, 2021