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About Gold’s Gym
Gold’s Gym began life in 1965 in Venice, California, and has grown from a single small site into one of the world’s biggest names in the fitness industry.
Starting life as a cinder block building on an abandoned lot by ‘Muscle Beach’, Joe Gold provided the space and equipment for bodybuilders to work out. When a young actor and Gold’s Gym member called Arnold Schwarzenegger and his friends starred in a movie about their journey towards Mr Universe, Gold’s Gym and their iconic yellow t-shirts became instantly recognisable.
Now boasting over 700 units across 28 countries and six continents, the Gold’s Gym brand welcomes three million people into its co-ed gym chain every day. Offering an extensive range of fitness classes, state-of-the-art gym equipment, personal training and a high-energy environment, Gold’s Gym has continually updated and upgraded its equipment and services to remain at the forefront of the fitness industry.
While the trend in the market place has been to specialise with boutique gym offerings, Gold’s Gym has stayed true to its original motivation, welcoming anyone and everyone through its doors and supporting and motivating them to achieve their full fitness potential.
With a 96 per cent brand awareness in the US, Gold’s Gym remains an authority in the fitness industry, and works hard to stay at the forefront of fitness evolution.
How much does a Gold’s Gym franchise cost?
A Gold’s Gym franchise requires an estimated initial investment of between £1.7 million and £3.8 million, depending on the size and location of the site, and potential franchisees are required to have a minimum net worth of £769,000, with liquidity of £307,600.
The head office team is open about the breakdown of these start-up costs, and the final Gold’s Gym franchise price factors in everything from construction costs, gym equipment and the £24,600 to £30,700 Gold’s Gym franchise fee cost through to marketing, signage, computer systems and even travel and living expenses for the franchisee during the initial training period.
What do franchisees get for the Gold’s Gym franchise fee?
Full support is provided to every Gold’s Gym franchise owner, including assistance with choosing a location, the design and construction of the new gym site, comprehensive training, marketing and advertising before the opening, and ongoing operational support.
How do I find a site for my Gold’s Gym UK franchise?
Gold’s Gym offers a lot of support in finding and securing the ideal site for a new Gold’s Gym franchise, and can introduce applicants to an approved national property broker, although it also encourages franchisees to use their own local broker if they prefer. Generally, the site should offer 25 to 45,000 sq ft with 17’ clear height, and have more than 50,000 people within a 10 minute driving distance.
Gold’s Gym head office will review the final location’s demographics and market place using their sophisticated mapping process, and will undertake a site visit before an agreement is signed. They will also offer assistance with reviewing lease agreements, construction and remodelling of the new gym space.
How much does a Gold’s Gym franchisee earn?
A Gold’s Gym franchise can expect and average revenue of £1,677,000 per annum, with an average EBITDA (Earnings Before Interest, Tax, Depreciation and Amortization) of 16.37%.
What training is provided for Gold’s Gym franchisees?
Extensive, fully comprehensive training is provided. The franchise owner and general manager of the gym complete a five day initial training programme, which comprises 28 classes covering all the skills and operational knowledge required to run a successful Gold’s Gym franchise.
Detailed operating manuals are supplied covering everything from introduction to fitness to front desk, personal training and sales. Five days of further in-depth management training is also provided, along with web and video based training materials and programmes to be used preparing local staff to open the new gym.
What marketing support is provided for Gold’s Gym franchisees?
Before you open the doors to your new Gold’s Gym franchise, members are encouraged to sign up online at a ‘Grand Opening Pre-Sale’, which in the past has sold more than 3,000 memberships before a new gym has even launched. The marketing and operations team continue their support throughout the preparation and execution of the opening itself, and from then on, Gold’s Gym uses a mix of traditional and digital marketing and PR techniques to help your business grow. Franchisees are given access to online intranet content including a marketing asset library, press release templates, digital content and media planning tools.
Does a Gold’s Gym franchisee receive ongoing support?
Yes, operational visits and quarterly calls with a Field Business Consultant are designed to provide support and guidance as needed.
Do Gold’s Gym franchisees need industry experience?
Gold’s Gym are looking for franchisees with business experience rather than fitness industry experience. Applicants could be an individual or group who combine business acumen with a passion for fitness, and a genuine desire to make a change to their communities’ health through exercise. Experience managing 15 to 30 employees is desirable, as is sales experience and retail or service unit management experience.
Will I meet other Gold’s Gym franchisees?
Yes, every year, Gold’s Gym holds an Annual Convention which gives franchisees from across the world a chance to connect and share their experiences, while also gaining knowledge on best practices.
Is running a Gold’s Gym franchise a full-time job?
Yes – either for the franchisee or a general manager. The Gold’s Gym franchise agreement dictates that the franchisee must maintain complete managerial control, but a fully trained, full-time employee can manage the day-to-day running of the gym.
Does a Gold’s Gym franchise cover an exclusive territory?
Yes, once a site has been selected, an exclusive territory is created either using city boundaries or a radius from the site itself.
Where are the new territories that Gold’s Gym are looking to open new franchise locations in the UK?
There are currently four Gold’s Gym franchise locations in the UK (Harrow, Dagenham, Hanwell and Hounslow) with a fifth in Hammersmith soon to open. All other UK territories are currently available.
Why choose a Gold’s Gym franchise?
Gold’s Gym has over 50 years of fitness industry experience, and over 30 years as a franchisor. A major player in the fitness industry in the US, Gold’s Gym now has four branches (soon to be five) in the UK, and are looking to expand the network further. Offering comprehensive training and support to their franchisees since 1980, each Gold’s Gym UK franchise benefits from the use of the famous name, which is instantly recognisable as a trusted brand all over the world.
How can I apply for a Gold’s Gym franchise?
Gold’s Gym adhere to their own high standards when selecting franchisees. Complete the form on this page to enquire.
Request Free Information
Send a free enquiry to Gold’s Gym for further information!