3. Snap Fitness
Corporate locations: 80
Franchise fee: $15,000 per storeInitial investment: maximum of $361,695 Monthly customer fee: $34.95 for the average single membership Snap Fitness 24-hour fitness centers provide fast, convenient and affordable workouts in clean, comfortable locations close to home, the company says. Founded in 2003 by Peter Taunton, Snap Fitness is growing quickly. The company is adding between 15 and 20 clubs per month. The company is able to scale down costs by shrinking fitness club size and eliminating some amenities, such as swimming pools and racquetball courts. It currently has approximately 1,295 stores open today, with another 1,913 in development. The company is also working on rolling out its newest idea, the Rolling Strong mobile gyms to accommodate the trucking community and those who travel frequently for business or vacation. Members pay $29.95 per month and can use any mobile or the bricks and mortar locations. (As of right now, all six Rolling Strong locations are corporately owned.) Josh Schaubach, a franchisee in Yuma, Ariz., owned two Snap Fitness locations but recently sold them back to corporate and is using the money as an investment in more locations. Schaubach says Snap approached him about purchasing the locations because the fitness centers were the most profitable in the company. While Schaubach didn't disclose the price, he did say it was the most ever paid for a Snap Fitness club. In October he plans to open a Snap Fitness in El Centro, Calif. He also plans to open other non-West Coast stores. A veteran in the fitness industry, Schaubach worked for several big box fitness clubs before deciding to go out on his own. He says he originally had planned to open his own gym, but found Snap Fitness met the values and amenities he wanted to give customers. "At big box clubs there's many benefits ... training is bar none. That's great, but in some way most gyms fail when someone walks into the club -- they're just a dollar," he says. "I created a business plan of what I was looking for. I wanted to have connection. I wanted the members to come in feel like they were part of a family, that we cared more about their health and well-being than just collecting their dues. [Snap] fit most of everything I needed," he says, with the support he needed in running his own business.
Select the service that is right for you!COMPARE ALL SERVICES
Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
24/7 market commentary from Jim Cramer and 20+ veteran Wall Street gurus. Get access to the latest trading ideas on stocks, options, and ETFs as well as a real-time forum to see the pros exchanging their investment ideas.
- Jim Cramer + 20 Wall Street pros
- Intraday commentary & news
- Real-time trading forum
- Actionable trade ideas
All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.
- Real Money + Doug Kass + 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV