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Home > Franchises > My Gym Children's Fitness Center
My Gym Children's Fitness Center
A franchise agreement takes place when the concerned parties involved are bound together through certain contractual provisions. This is an arrangement whereby someone with an idea for a business, the franchisor, sells to another person the franchisee the rights to use the business's name, sell a product, or provide a service to someone else. A franchise agreement will usually specify the given territory the franchisee retains exclusive control over the area protection, as well as the extent to which the franchisee will be supported by the franchisor.
My Gym Children's Fitness Center creates facilities, programs and services that empower youngsters by helping them acquire the skills, confidence and positive self-image needed to become healthy young adults. My Gym was founded in 1983 when partners Yacov and Susie Sherman and Bill Caplin opened their first centers in Van Nuys and Santa Monica, California. The founders soon expanded their business throughout Southern California and there are now locations throughout the United States.
Systems were developed for seeking highly qualified and talented franchisees, determining favorable demographics, locating advantageous sites, attaining loans, supplying equipment, performing tenant improvements, training owners and directors, providing all-inclusive administrative packages, hiring staff, generating advertising and promotional opportunities, planning spectacular grand openings, attaining clientele and giving support to franchisees, the quality of which is unparalleled in the industry. They currently have over 160 locations worldwide.
Their initial fee is of 49,500 dollars. A monthly royalty fee equal to 6 percent of gross revenues fees and royalties pay for the license to use the trade names, area selection and lease assistance, initial construction and space planning, training, operations materials, ongoing research and development of new services and products, continuing assistance and support, plus other services related to the owning, opening and operating a My Gym. Franchise investment required ranges from 107,875 to 233,160 dollars. They have achieved the ranking of 183 in 2006, 164 in 2005, 166 in 2004, 126 in 2003 and 193 in 2002.
With all the continuous hard efforts of all the members of the firm has made it one of the best in the business and has helped them reach to the pinnacle where others can only imagine of reaching. Customer support is one of their primary objective and they strive very hard to fulfill this objective. The market demands quality and they strive to give their customers what they demand.
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