Snap Fitness

SNAP FITNESS, Headquartered in Chanhassen, MN, has developed a unique health club concept that has taken most of the overhead and cost structure out of the business and has given customers what they want: Quality, Value, and Convenience. With over 400 clubs open in markets throughout the Midwest and beyond they are changing the way Americans exercise. Their modern facilities are compact in stature (2,500 sq. ft.) but are loaded with state-of-the-art exercise equipment without the overhead of a “big box” health club. By going further into neighborhoods where the full service clubs can’t go, they are capitalizing on an underserved market. Clubs are available to members 24-7 through an elaborate key-card and security system, making them safe and convenient. Their track record of success has substantiated that people will forgo the expense of a full-service health club in favor of an affordable, convenient alternative.

BUSINESS CHARACTERISTICS

· Absentee Ownership
· Keep the security of Full-Time job
· Open Multiple Units-
· Limited Time Commitment
· Few Employees
· State of the Art Equipment
· Low Investment Level
· Rapid Breakeven
· Tremendous Demand
· Highly Profitable Clubs
· 24-7 Key-Card Access
· Safe & Secure
· Affordable
· No Contracts to sign

The company encourages its franchisees to commit to opening 3 clubs over an 18 month time span. A discount in the franchise fee is offered for doing so. The simplicity of the business makes this relatively easy to do.

Background:

Year Established: 2003
Year First Franchised: 2004
Franchised Units: 1000
Company Owned Units: None
Projected New Units (12 months): 200
States/Countries Registered In: All in US and Canada
Availability in Canada: Masters / Area Developer; NO. The same multi unit (3) deals as in the US.

Financial/Terms: (Single Unit)

Financial/Terms: (Single Unit)
Cash Investment: $75K
Total Investment: $200K
Minimum Net Worth: $350K with $100K liquid
Franchise Fee: $15K single: $40K 3 units
Discounts: FranVet, Women, Minorities: Yes, VetFran program
VetFran Program Participant: Yes, $1000 discount on Franchise Fee
Royalty: None. Franchisees pay a monthly fee of $399
Ad: Monthly fee of $75
Average # of Employees: 1
Passive Ownership Allowed: Yes, as long as certain qualifications are met.
Earnings Claim: Yes

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