- 2023 Franchise 500 Rank
N/R Not ranked last year
- Initial investment
$83K - $148K
- Units as of 2023
168 9% over 3 years
GYMGUYZ strives to get people fit with a dynamic, personalized program that the trainer draws up following a free personal assessment. Whether the client's goal is to lose weight or improve their general fitness, GYMGUYZ will design a flexible program to meet their needs. The fitness programs are fun and challenging, each session is different and motivating, and the trainer can design a program for one-on-one or group workouts.
GYMGUYZ started operations in 2008 and began franchising in 2013. There are now over 135 GYMGUYZ franchises across the United States to go along with an impressive presence in both Canada and overseas.
Why You May Want To Start a GYMGUYZ Franchise
GYMGUYZ may be the perfect answer for those who can't find the time to go to a gym or, perhaps, don't like the gym experience. With GYMGUYZ, your workout is private and designed to meet your goals. GYMGUYZ's distinctive red van brings the client's personal trainer, and all the equipment, to the client's home or workplace. It could offer the perfect answer for those who need a flexible fitness schedule.
A franchisee does not need to have experience in personal fitness programs. However, they should be dedicated to the GYMGUYZ ideal of improving people's lives. Naturally, they should be good with people and have the ability to motivate and encourage clients.
What Might Make a GYMGUYZ Franchise a Good Choice?
GYMGUYZ has become a recognized name in the personal training field and seeks to improve all aspects of the client's health and fitness. The first session is typically free, and clients then pay per session, resulting in zero contracts or monthly fees. This franchise opportunity does not require a dedicated building, as all the work is done at the clients' premises. Once accepted as a franchisee, you can be up and running in as little as several months.
To be part of the GYMGUYZ 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 GYMGUYZ Franchise
As you decide if opening a GYMGUYZ franchise is the right move for you, make sure you take the time to explore the opportunity. Research the brand and your local area to see if a GYMGUYZ franchise would do well in your community. While competition is healthy, too much of it may not allow for the most possible growth.
GYMGUYZ offers a comprehensive training program for its franchisees as well as access to fitness, operations, and marketing experts. The GYMGUYZ corporate team is always available to assist the franchisee as they operate their location.
If GYMGUYZ gives preliminary approval to a franchisee, then the franchise will invite the potential franchisee to a Team Day. At this event, the potential franchisee will meet the management team and have the opportunity to discuss the franchise opportunity in detail.
Before you know it, you may find yourself acting as the newest GYMGUYZ franchisee.
|Franchising Since||2013 (10 years)|
|# of employees at HQ||18|
This company is offering new franchisees throughout the US.
This company is offering new franchisees worldwide.
|# of Units||168 (as of 2023)|
Information for Franchisees
Here's what you need to know if you're interested in opening a GYMGUYZ 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
Definition: The initial fee paid to a franchisor to join their system
What you need to know: Found in Item 5 of the FDD, this may be a flat fee, or may vary based on territory size, experience, or other factors.The franchise fee is an up-front (one-time) cost that a new franchisee pays to the franchisor. This fee is usually due at the signing of the franchise agreement and covers the right to use the franchisor's trademarks, name, and related business systems.
Definition: The total amount necessary to begin operation of the franchise
What you need to know: The initial investment includes the franchise fee, along with other startup expenses such as real estate, equipment, supplies, business licenses, and working capital. This is outlined in a chart in Item 7 of the FDD, showing a range of possible costs from low to high.
|$82,600 - $147,500|
Net Worth Requirement
Definition: The minimum net worth you must have in order to qualify to become a franchisee of this company
What you need to know: Net worth is the value of a person's assets minus liabilities. Assets include cash, stocks, retirement accounts, and real estate. Liabilities include items like mortgages, car payments, and credit card debt.
Definition: The minimum liquid capital you must have available in order to qualify to become a franchisee of this company.
Definition: A discount or other incentive offered to military veterans who buy a franchise with this company.
|$5,000 off franchise fee|
Definition: A ongoing fee paid to the franchisor on a regular basis.
What you need to know: Most franchisors require franchisees to pay an ongoing royalty fee, which is detailed in Item 6 of the FDD. This fee is typically a percentage of weekly or monthly gross sales, but may also be a flat weekly, monthly, or annual fee.
Ad Royalty Fee
Definition: An going fee paid to the franchisor on a regular basis to support advertising or marketing efforts.
What you need to know: This may also be called advertising fee, marketing fee, brand fund fee, and more, but the basic purpose is the same-- to support promotion of the brand systemwide. As with the royalty fee, it is detailed in Item 6 of the FDD, and can be a percentage of weekly or monthly gross sales or a weekly, monthly, or annual fee.
Term of Agreement
Definition: The length of time your franchise agreement will last.
What you need to know: Franchise terms are typically anywhere from 5 to 20 years in length, but are sometimes instead dependent on factors such as the term of your lease. Once your term is up, you may have the option to renew your agreement, typically for a smaller fee than the original franchise fee.
|Is franchise term renewable?||Yes|
Some franchisors offer in-house financing, while others have relationships with third-party financing sources to which they refer qualified franchisees.
|Third Party Financing||GYMGUYZ 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||10 hours|
|Classroom Training||51 hours|
Meetings & Conventions
Security & Safety Procedures
Franchisee Intranet Platform
Additional details about running this franchise.
|Is absentee ownership allowed?||No|
Can this franchise be run from home/mobile unit?
Definition: The business can be run from your home and/or a vehicle, and it is not necessary to have a retail facility, office space, or warehouse.
Can this franchise be run part time?
Definition: This business can be run by the owner on a part-time basis (less than 40 hours per week) and/or as a side business; it is not necessary for the business to be open/run full-time.
|# of employees required to run||1|
Are exclusive territories available?
Definition: An exclusive territory is a fixed area in which you are given the right to operate and in which no other units of the same franchise may be opened.
What you need to know: Territory size may be based on factors such as radius, population size, zip codes, and more. Details can be found in Item 12 of the FDD.
Franchise 500 Ranking History
Compare where GYMGUYZ landed on this year's Franchise 500 Ranking versus previous years.
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