Start a Legends Boxing Franchise in 2024

Franchise 500 Rank: N/R Not ranked last year

Initial investment: $220K - $573K

Units as of 2023: 19 72.7% over 3 years

Legends Boxing was founded by brothers Andrew and Rob Scott. The two had a passion for boxing from an early age. In 2013, they founded Legends Boxing to provide a safe, inclusive gym. A Legends Boxing franchise is expected to provide a place to learn and grow as a community in a fun and challenging environment that is an alternative to a traditional gym.

With a thriving business, Legends Boxing ultimately decided to begin franchising in 2017. There are several Legends Boxing locations across the United States.

Legends Boxing prides itself on teaching real boxing techniques in step-by-step classes. They have a passion for fitness and boxing.

Why You May Want to Start a Legends Boxing Franchise

An ideal franchisee should fit the Legends Boxing core values: "REAL USA Boxing technique. BELONG to a family. Achieve the RESULTS you want." Their business model could be straightforward to follow. It is in place to help each franchise location focus on growth. Legends Boxing may provide new franchisees with a great deal of support. This may include ongoing training and support, a real estate team, and more.

Another key feature Legends Boxing offers new franchisees is a membership marketing plan. This multi-round process could help franchisees form and maintain a solid customer base. Legends Boxing can also support new franchisees in hiring and training coaches for their gym.

Franchisees should have exceptional customer service skills and be willing to lead a winning team.

What Might Make a Legends Boxing Franchise a Good Choice?

The support offered by Legends Boxing may set them apart from their peers. They may provide step-by-step support through location scouting, real estate, and grand opening, then continue to offer support going forward. Other perks could include a growing industry, marketability, and core values. According to their website, "at Legends, we offer a safe place, free from judgment and intimidation."

As you decide if opening a Legends Boxing franchise is the right move for you, make sure you take time to explore the opportunity. Research the brand and your local area to see if a Legends Boxing franchise would do well in your community. While competition is healthy, too much of it may not allow for the most possible growth.

How To Open a Legends Boxing Franchise

To be part of the Legends Boxing team, you should make sure you're financially fit 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.

Before making any financial commitment or signing an agreement, you must perform your due diligence and establish if this is the right opportunity for you. As part of your due diligence, you may want to speak to existing franchisees and ask the Legends Boxing franchising team questions.

It may be a good idea to speak with an attorney or financial advisor to ensure that you have the necessary financial resources to own and operate a Legends Boxing franchise.

Company Overview

About Legends Boxing

Industry	Health & Wellness
Related Categories	Boxing/Kickboxing Fitness, Fitness , Sports
Founded	2013
Parent Company	Giant Brands LLC
Leadership	Rob Scott, CEO
Corporate Address	80 N. 850 East Lehi, UT 84043
Social	Facebook, LinkedIn, Instagram, YouTube, TikTok

Business Overview

Franchising Since	2017 (7 years)
# of employees at HQ	10
Where seeking	This company is offering new franchises throughout the US.
# of Units	19 (as of 2023)

Information for Franchisees

Here's what you need to know if you're interested in opening a Legends Boxing 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.	$51,900
Initial Investment 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.	$220,306 - $573,439
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.	$300,000
Cash Requirement Definition: The minimum liquid capital you must have available in order to qualify to become a franchisee of this company.	$100,000
Veteran Incentives Definition: A discount or other incentive offered to military veterans who buy a franchise with this company.	10% off first-unit franchise fee
Royalty 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.	7%
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.	1%
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.	10 years
Is franchise term renewable?	Yes

Financing Options

Some franchisors offer in-house financing, while others have relationships with third-party financing sources to which they refer qualified franchisees.

Third Party Financing	Legends Boxing 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	96 hours
Classroom Training	20 hours
Ongoing Support	Newsletter Meetings & Conventions Grand Opening Online Support Security & Safety Procedures Lease Negotiation Field Operations Site Selection Proprietary Software Franchisee Intranet Platform
Marketing Support	Co-op Advertising Ad Templates National Media Regional Advertising Social Media SEO Website Development Email Marketing Loyalty Program/App

Operations

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.	No
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.	No
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.	Yes