A Curves franchise is a fitness centre for women based on the concept of circuit training. Women buy memberships and work out at their convenience using a series of exercise machines. Each machine tones and tightens a different muscle group. Curves offers a supportive atmosphere and women-only facility for getting in shape and maintaining fitness. For those who would like to buy a Curves franchise, pricing is important. Franchises are available for initial fees and monthly royalties.
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Determine the cost of the initial franchise fee of a Curves franchise. According to Curves, the initial fee is £16,185. Equipment will cost an additional £1,300 to £1,950. In addition to these costs, new franchise owners will have the expenses of a lease, rent, stereo system, utility deposits and payments, accounting and the cost of hiring and paying employees.
Decide on the cost of monthly franchise royalty fees for operating a Curves franchise. Monthly royalties of five per cent of gross revenues are charged to franchise owners. There is a minimum of £126 and a maximum royalty of £516.
Find out the cost of monthly advertising royalty fees. Curves franchise owners are charged a monthly advertising fee of three per cent of gross revenues. The minimum fee is £61 and the maximum fee charged is £256.
Develop a list of other costs of starting up a business. Curves owners will incur the cost of decorating the facility, insurance, office supplies, computer, printer and costs associated with applying for a business license and incorporating fees.
Add up the costs and determine the final pricing of a Curves franchise. Once the final cost is determined, prospective owners are more equipped to make a decision on whether or not to start a Curves franchise.
Tips and warnings
- Make sure there are no other Curves franchises in the area. Only one franchise can be operated in a specific area.
- Established Curves franchises that are for sale may also be bought, sometimes at a lower cost. These franchises will already have members and revenue, which may be an added advantage.
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