What financial requirements are there to become a franchise partner?
We are seeking individuals with at least $150k in liquid assets, a net worth of $300k or greater, and a credit score over 700.
What is the initial investment?
Our initial investment ranges from $150,330 to $406,500. This includes $43,000 to $45,000 that must be paid to the Franchisor or an affiliate.
Is there financing available for the initial investment?
While Burn Boot Camp does not offer financing directly, we will happily introduce you to our 3rd party lending partners. Our partners support many options to secure funding if you meet the minimum financial requirements. The most popular amongst franchise partners is an SBA Loan, 401k Rollover, or some sort of cash from themselves or another party.
What are your royalties and marketing fees?
Burn Boot Camp’s royalty is 6% of gross sales. The national marketing fee is 2% of gross sales. Franchise partners are also encouraged to spend on local marketing initiatives through the training and guidance of the Headquarters team.
Do I have to find my own location?
Burn HQ provides a real estate team who will help find available options, negotiate business terms, and submit necessary documentation. We do expect a franchise partner to be actively engaged in the real estate process in combination with the efforts of our team.
How long does it take to open a gym?
On average, it takes 6-8 months to open a gym from the time you sign a franchise agreement.
What qualities and attributes does a successful Franchise Partner need to possess?
Burn is attracted to individuals who have a passion for health and wellness, as well as, helping others. Successful franchise partners have financial stability, a level of business acumen, leadership skills, and desire to be successful. You do not have to be a trainer or have a fitness background to be a successful franchise partner.