Do you want to open a fitness business by buying Self Made Training franchise? If YES, here is how much it cost to open Self Made Training Facility franchise successfully. If you are looking towards opening a Self Made Training Facility Franchise, it will be nice for you to have a preview of what the company represents before going ahead to enquire about the total cost of opening the franchise in your location.
Self Made Training Facility was founded in 2010 and they began franchising in 2016, about 4 Years ago. They have their corporate head office at 42260 Winchester Rd. Temecula, CA 92590. As of the 2018 Franchise Disclosure Document, there are 7 franchised Self Made Training Facility locations in the USA.
Self Made Training Facility is a personal fitness and exercise training facility. They also provide private personal training and supplement sales. Self Made Training Facility is the first of its kind to employ a wide variety of professional trainers with various backgrounds that match consumers to the trainer that will partner with them to accomplish their health and fitness goals.
Self Made Training Facility boasts state-of-the-art exercise machines, whether training for a powerlifting or body building event, desiring an edge over the competition in your sport, or looking to lose a few extra pounds, we have the tools you need to be successful.
Financial Investment Required to Open a Self Made Training Facility Franchise?
Please note that Self Made Training Facility has a franchise fee of up to $45,000, with a total initial investment range of $263,982 – $725,737. Here are areas where you are expected to spend money and the cost associated with it;
1. Initial Franchise Investment: $263,982 – $725,737
2. Franchise Fee: $45,000
3. Royalty Fee: 5 percent of Gross Sales
And the Due Date for this fee is Paid by electronic funds transfer every Friday for the preceding Reporting Period. The amount of the Royalty Fee for any renewal term will be that provided in the Franchise Agreement executed for such renewal term.
Please note that “Gross Revenues” include all revenues generated from the provision of any and all services and/or the sale of any and all products and, whether by the franchisee or a third-party provider, that relate to or arise from the Franchised Business. It does not include taxes collected from customers.
4. Local Advertising Spend, Local Marketing Fund, or Cooperative Advertising Contribution
At least 1 percent per calendar year and the Due Date: for this is Monthly. Centers owned by Self Made Training Facility and its affiliates are also members of their respective local Cooperative and each company-owned Center has the same voting rights as the franchised locations within the Cooperative.
If the company-owned Centers comprise the majority of a given Cooperative, the maximum and minimum fees for that Cooperative will be consistent with the range stated in this Item 6.
- Liquidated Damages Under Area Development Agreement: This fee varies but the Due Date is Payable within 30 days of the termination of the Development Agreement.
- Audit Costs: All costs and expenses associated with the audit, reasonable accounting and legal costs.
- Indemnity: This fee will vary under the circumstances and the Due Date is As incurred.
Please note that you must reimburse Self Made Training Facility if it is held liable for claims arising out of your franchise operations.
- Insurance: Reimbursement of costs the franchisor’s out-of-pocket costs.
- Equipment, Supply, or Supplier Testing or Inspecting: Fee not to exceed the actual costs of inspecting and testing. (Due Date: Due on receipt of invoice.)
This fee covers the cost of testing or inspecting equipment, supplies, or suppliers you propose.
- POS Hardware and Software: Depends upon vendor and products purchased.
- Attorneys’ Fees and Costs: Will vary under circumstances. (Due Date: As incurred.)
Payable to Self Made Training Facility if it is forced to retain independent counsel and seek damages or injunctive relief to enforce the Franchise Agreement (whether or not suit is filed) or if Self Made Training Facility is required to defend your unsuccessful claim against it.
- Term of Agreement and Renewal: The length of the initial franchise term is 7 years. If requirements are met, franchisees can renew for one additional term of 7 years.
- Financial Assistance: Self Made Training Facility offers in-house financing to cover the following: franchise fee, startup costs, equipment, inventory, accounts receivable, payroll. So also, Self Made Training Facility has relationships with third-party sources which offer financing to cover the following: franchise fee, startup costs, equipment, inventory, accounts receivable, payroll.
- Initial Investment: $263,982 – $725,737
- Net-worth Requirement: $200,000
- Liquid Cash Requirement: $150,000
- Ongoing Initial Franchise Fee: $45,000 – $45,000
- Total Investment: $261,232 to $720,987
- Working Capital: $15,000 to $30,000
- Ongoing Royalty Fee: 5%
- Ad Royalty Fee: 3%
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