How to Open a Gold's Gym Franchise

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Gold's Gym was established in 1965 and began franchising in 1985. The company is experienced in franchising and has a streamlined process. It provides training and support in every area of building and operating a Gold's Gym. If you are interested in the health field, meet the qualifications, and have the perfect location for a gym, this may be the right career path for you.

Skill level:
Moderately Challenging

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Things you need

  • An initial investment of up to £0.6 million

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    How to Open a Gold's Gym Franchise

  1. 1

    Make sure you meet the qualifications. As of 2009, Gold's Gym required that franchise applicants have a minimum of £520,000 in net worth and £195,000 in liquid assets. They must have business ownership experience, have managed over 15 employees, have sales experience and are involved in the community.

  2. 2

    Apply to become a franchise owner. There is a short form on the Gold's Gym website that can start the process. The company will first look at the territory you are interested in, to make sure there is a need in that area. Next they will verify your experience, finances, and ability to sell memberships.

  3. 3

    Obtain financing to open the gym. The investment will be between £520,000 to £0.6 million. Gold's Gym can help you to obtain financing through a third party.

  4. 4

    Attend Gold's Gym's courses. Gold's Gym has several courses that will educate you on everything from marketing and managing your gym to exercise techniques. Some courses are web-based.

  5. 5

    Implement Gold's Gym's fast-track development plan. Locate your gym location, design and build your facility, set up your business using the Gold's standards, and sell memberships. As of 2009, there were two standard club layouts. One design is for an 8,000-square-foot facility and the other is for a 12,000-square-foot facility.

Tips and warnings

  • There may be existing Gold's Gym franchises that are for sale. This may be an easier option and require less investment.

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