In today’s time, a lot of people believe that life has become a race. You have to be great at anything and everything to be successful. The people’s mindset is such that they think taking rest for even a minute might set them back in their careers. So, they are continually running, leaving one place to go to the other, never stopping to catch a breath. Eating while walking or working, working from home, discussing business with someone on the way to the office – all these activities have become a part of the lifestyle of today’s generation.
But what people forget or are not able to understand is that life is not a race; it is a marathon. So, to be always on top of our game, we also need to take care of ourselves. Adding to the work pressure is the consumption of junk food on a daily basis. Technology has made it easy for us to get food through a single tap on the phone. Cheap and readily available junk food also contributes majorly to the deterioration of the health of an individual. All of this eventually piles up and is bound to take a toll on the physical health of a person. Just like if a machine is made to run overtime, it can lead to exhaustion and breakdown.
Fitness has emerged as a new lifestyle option for the current generation. Not to say that people were not fit before or there was no fitness lifestyle before. But in the last decade or two, the fitness industry, especially in India, has started booming. To combat the hectic life that is stressful for both physical and mental health, people have started jogging, eating healthy and nutritious food and working out in gyms.
Gold’s Gym, which is arguably the most popular name in the fitness industry, is the one that is leading the charge in the business of getting people fit and healthy. With the help of top-notch equipment and expert counselors giving sound nutrition advice, Gold’s Gym has been able to rise to the top of the list when it comes to gym brands in the world.
Contents In This Article
- 1 About the Company:
- 2 Gold’s Gym Franchise:
- 3 Gold’s Gym Franchise Cost in India:
- 4 Gold’s Gym Franchise Return on Investment (ROI):
- 5 Company’s Business Model:
- 6 FAQs Regarding Gold’s Gym Franchise:
- 7 Final Words:
About the Company:
There are companies or brands whose names can be used as synonyms for the industry they are in. Gold’s Gym is one such brand. Gold’s Gym was started by Joe Gold, a former bodybuilder and a US marine. It was launched in August of 1965 in Venice Beach, California. What was started by Joe as a place where he and his friends could train has now gained cult status with a loyal following across the world.
Gold’s Gym was featured in the docudrama ‘Pumping Iron’. The docudrama was a big hit, which helped popularise not only the gym but physique and fitness in general. Having members like Arnold Schwarzenegger and Dave Draper also helped the brand in gaining popularity.
Gold’s Gym opened its first international store in Canada in 1985. Since then, the company has expanded its business and now has around 180 international gyms in places like India, Russia, Costa Rica, Mongolia, Jordan, Japan, United Kingdom, etc.
Today, Gold’s Gym is active in 6 continents, having more than 2 million customers and over 200 locations.
Gold’s Gym Franchise:
Fitness is the trend right now. Both men and women want to look good and feel good. And there is no bigger name than Gold’s Gym when it comes to fitness. Investing money to get a Gold’s Gym dealership is an excellent decision because of many reasons. First and the most obvious is the established brand name and the decades of recognition that the company has around the world. This will help the franchisee in attracting customers in no time. Endorsements by celebrities also go a long way in promoting the business and Gold’s Gym has a lot of celebrity members.
Gold’s Gym also assists the franchisee in planning the location for the gym and the layout of the gym. The company also provides special values through Gold’s Gym National Vendor Program.
Gold’s Gym Franchise Cost in India:
The investment cost required to become an owner of Gold’s Gym franchise in such a case is around 1 crore to 1.5 crore rupees. The outlet space or area needed for an express gym is about 3000 to 4000 square feet. The gym also needs to include facilities like cardio, strength, free weight, lockers, steam area, other wet areas, etc.
As is the case with every franchise, some requirements need to be fulfilled by an individual to get a franchise for Gold’s Gym. There are two types of franchises that are offered by Gold’s Gym. One is for ‘Regular Gyms,’ and the other one is for ‘Express Gyms.’
The regular gyms come under the company’s expansion plan for Tier 1 or metro cities. For regular gyms, the franchisee needs a large investment that might range from 2 to 3 crore rupees. Along with that, an area of around 5000 to 7000 square feet is also required. Facilities like yoga, group exercise, swimming pool, spinning studio, free weight area, cardio, strength, steam bath, lockers, other wet areas, etc. need to be included in the facility.
The express gyms are a part of the company’s expansion plan for Tier 2 and Tier 3 cities.
The first step towards becoming a Gold’s Gym franchisee is to go to the Gold’s Gym’s official website and fill out an application form to apply for Gold’s Gym membership. The company’s personnel will then review the application and they will then contact the potential franchisee to take things further.
Gold’s Gym Franchise Return on Investment (ROI):
Although there are no exact figures or statistics to show how profitable the decision to invest in a Gold’s Gym franchise is, it can be said without a doubt that the brand value that Gold’s Gym carries when combined with the craze for fitness that today’s generation has, results in huge returns. Other than the monetary benefits, there are also some other perks that a franchisee gets from the company. Assistance in the selection of the site for the gym, franchisee training in Delhi, detailed operating manuals, assistance on the field and expert advice from the head office to the franchisee are some of the many services provided by the company to the owner of the franchise.
Company’s Business Model:
Gold’s Gym first made its presence known in India in 2002 when it opened its first branch in the country in the city of Mumbai. After that, there was no looking back for the company. In 2015, the company had around 134 gyms across the country and today, the number is even more.
Gold’s Gym follows a holistic approach when it comes to the fitness of its members. That can be proven with the help of state-of-the-art equipment and certified professional trainers that are there in the gyms to help out the members in reaching their fitness goals. Famous celebrities across the country go to Gold’s Gym for their workout. Film stars, TV personalities, sportspersons, etc. all are members of the company.
Gyms across the world usually earn money from their members. The same is the case with Gold’s Gym. The company’s primary source of income is through the membership fees that are paid by the customers. There are various types of memberships offered. Membership can be monthly or yearly, depending on the preference of the member. The company targets individuals as well as families and corporate businesses. So, memberships to these entities are sometimes offered at reduced prices.
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FAQs Regarding Gold’s Gym Franchise:
1. How to apply for a franchise of Gold’s Gym?
Answer: To apply for a Gold’s Gym franchise, one has to visit the official website of the company. There, an application form has to be filled by the individual applying for a franchise. Then, the application is reviewed by the company’s personnel and then they get in touch with the individual to move things ahead.
2. How much investment is needed to be an owner of a Gold’s Gym franchise?
Answer: In Tier 1 or metro cities, the investment needed comes around to 2 to 3 crore rupees. In Tier 2 and Tier 3 cities, the money required to open up a Gold’s Gym franchise is approximately 1 crore to 1.5 crore rupees.
3. How much outlet space or area is required to open a Gold’s Gym?
Answer: For a regular gym in Tier 1 or metro cities, an area ranging from 5000 to 7000 square feet is required. For Tier 2 and Tier 3 cities, the area required to open up a Gold’s Gym franchise is approximately 3000 to 4000 square feet.
4. What are the different types of franchise options available to an applicant?
Answer: Two types of dealerships are offered by Gold’s Gym, depending on the location of the store. If the store is in Tier 1 or a metro city, then the dealership is for a regular gym, which will require an investment of 2 to 3 crore rupees and an outlet space of around 5000 to 7000 square feet is needed.
If the franchise applicant wants the store to be located in Tier 2 or a Tier 3 city, then he or she has to get a dealership for an express gym. An investment of around 1 to 1.5 crore rupees and an area of 3000 to 4000 square feet is needed for that.
Fitness has become a lifestyle with more and more people adopting it every day. But today, there are too many choices that might leave a person confused as to which route to take. So, one must go to a place that has an established name and a reputation to uphold. This is where Gold’s Gym comes in.
The company has gained a cult status in the fitness industry and more growth is the only way forward. So, if someone is interested in physical fitness and is looking to invest in a gym, Gold’s Gym is the answer.