If you haven’t heard of OrangeTheory yet, then you should look it up. It is one of the hottest new weight loss trends out there and people love it. The company started offering franchising options about six years ago which is when the company really took off. If you are considering buying an OrangeTheory fitness franchise then the thing you really need to think about is how much money you can make with this franchise brand.
Why OrangeTheory is So Popular
The main attraction for many people is the fact that they know when they come to a session at OrangeTheory that it is going to be an intense workout session. The machines help to keep them aware of how well they are doing throughout their workout which makes for an even more fun and enjoyable experience for the consumer. The unique setup of the business so that all sessions are group sessions helps keep accountability and makes it easier to bring in more people at once as people can make it a social gathering.
Ways to Make Money with an OrangeTheory fitness franchise
There are different plans available with an OrangeTheory fitness franchise. This is based on the number of times a person comes in during the month or they can do an unlimited package so they can come in as much as they want. Now this is really dependent on the person’s workout schedule and their financial situation. The nice thing is that no matter how many times a person comes in you are making the monthly membership fee with this gym franchise. The other thing way to make money with this franchise is the upsells. Stores offer OrangeTheory gear as well as individual classes to people who either are not members or have met their allotment of classes for the month.
Can This Provide a Good ROI?
Now that you have seen the different ways this company can make money, the next thing to consider is how the return on investment is with an OrangeTheory fitness franchise. The truth is that there is no way to guarantee this as every market is a little different and it will really depend on how well you handle your marketing and what the people in your local area are interested in. For instance, people in your area may prefer gyms where they can work out on their own or may like solo classes rather than a group environment. Also, you need to think about the cost to open the business. The minimum cost to open is over $437,600 and this number can go up as high as $772,100. While the franchise fee itself is not too bad at $39.400, the real issue here is buying all the equipment needed.
Is There a Better Alternative?
If you are concerned about the cost and potential return on investment with an OrangeTheory fitness franchise then you should consider a Splash and Dash franchise. Sure this is not a weight loss franchise but rather a pet franchise. It is also an Inc 500 company and growing strong over the last few years. The company revolutionized the pet industry when they introduced their signature bath membership which allows people to bring their pets in for unlimited baths and brushes for a fee that is around what many pet stores charge just for a bath. While this may seem like it won’t make the company money, they have found the recurring revenue from the memberships are great and this even helps to drive sales in the grooming salon and boutique as well.