Is
GYMGUYZ
a franchise?
How many
GYMGUYZ
franchises
are there?
What are the
GYMGUYZ
franchise
fees?
Initial Franchise Fee
The Initial Franchise Fee is $44,500. If the territory contains more than 30,000 households, there is an additional fee of $1.00 per household over the standard 30,000 households. For honorably discharged United States veterans presenting DD-214 documentation, the Initial Franchise Fee is reduced by $5,000. This fee is not refundable in whole or in part and is deemed fully earned upon execution of the agreement.
Royalty Fee
The Royalty Fee is 6% of the Gross Sales of the Franchised Business or $300.00 per two weeks (or $400.00 per two weeks for Territories in excess of 31,000 qualified households), whichever amount is greater. This fee is payable every other Wednesday based on Gross Sales achieved during the previous two-week period.
Brand Development Fee (Marketing Fee)
The Brand Development Fee, also known as the Marketing Fee, is currently equal to 2% of Gross Sales or $40.00 per two-week period, whichever is greater. The company reserves the right to increase this amount upon 30 days’ prior written notice.
Additional Fees
- Initial Marketing Funds: You must spend $31,500 in initial marketing funds in your Territory. If you have previously executed a GYMGUYZ franchise agreement for an adjacent territory, your required Initial Marketing Fund expenditure is reduced to $11,500.
- Call Center Fee: The current fee is $499, payable monthly.
- Telemarketing Fee: The current fee is $299, payable monthly.
Note: The fees presented here can be found in the Item 5 of the Franchise Disclosure Document. For a complete list of all the fees borne by the franchisee, please consult the Franchise Disclosure Document.
How much does
it cost
to start a
GYMGUYZ
franchise?
Note: The table above provides a snapshot of the main costs associated with starting the most common franchise format (as disclosed in the Item 7 of the Franchise Disclosure Document). For a complete overview of all the expenses involved with the various formats offered by the franchisor, please consult the Franchise Disclosure Document.
Does
GYMGUYZ
provide
training
to its
franchisees?
GYMGUYZ University Training Program
The franchise offers a GYMGUYZ University Training Program which is a hybrid model spread out over the course of approximately 4 weeks. This training consists of live virtual training, online training, and 4 days of in-person training located at the GYMGUYZ headquarters in Melville, New York. This training program is mandatory for all franchisees and is provided to up to two people (the franchisee and one team member) at no additional charge.
Initial Training Program Breakdown
The initial training program includes the following modules:
- Welcome - The Brand, Customer Service, and Life of an Owner: This module consists of 2 hours of classroom training and 1 hour of on-the-job training. It can be conducted in Melville, New York, or through virtual training.
- Marketing, Advertising, and Services Offered: This module includes 3 hours of classroom training and 8 hours of on-the-job training. The location for this training is either in Melville, New York, or virtual training.
- Lead and Client Management: This training module comprises 1 hour of classroom training and 2 hours of on-the-job training. It can be conducted in Melville, New York, or through virtual training.
- Human Resources and Managing Employees: This module involves 4 hours of classroom training and 2 hours of on-the-job training. The training can be conducted in Melville, New York.
Does
GYMGUYZ
provides
territory
protection?
GYMGUYZ does provide territory protection for its franchisees, but there are certain limitations and conditions attached to this protection.
Can a
GYMGUYZ
franchise
be run as
a passive
investment?
While there is some flexibility, the franchise is not designed to be a purely passive investment.
