My Gym Children's Fitness Center
Date of Incorporation: 1994
Franchising Since: 1995
Headquarters: California
Description: Gym Consulting, Inc. is a California corporation which conducts business under the name My Gym Enterprises. My Gym franchisee will establish, develop and operate a center in a building and/or a business providing services and products to places like schools and day care centers which emphasizes children's physical education by teaching pre-gymnastics, tumbling, fine and gross motor skills, sports skills, group interactive activities (including games and relays) and stretching, in a bright and cheery atmosphere using a warm and caring staff.
Franchise Offer: The franchisor offers to enter into franchise agreements with qualified corporations and persons that wish to establish and operate a My Gym Businesses.
- If the franchisee enters into a Mobile Business Franchise Agreement, the franchisee will operate a Mobile Business, which provides the services and products to Institutional Facilities and the customers located in such institutional Facilities. Institutional Facilities include, among other things: hotels; airports; federal, state or local government facilities, hospitals and other health-care facilities; recreational facilities; schools, daycare centers, and seasonal facilities. The franchisee will transport the equipment and bring the services and products to the Institutional Facilities by vehicles that have been approved as satisfying the then-current standards and specifications, with the specified logos. Currently, the franchisor only requires the use of a four-door passenger car.
- There is also an option to open a Fixed Centre. If the franchisee enters into a Fixed Center Franchise Agreement, the franchisee will operate a Fixed Center in a building that bears the franchisor’s trade dress at an agreed-upon location. A Fixed Center will ordinarily be located in strip shopping centers, malls, and light industrial or commercial streets with heavy traffic.
Financial Assistance: The franchisor does not offer direct or indirect financing and does not guarantee notes, leases or other obligations.
Training and Assistance: The franchisor will train the franchisee or an approved managing owner of a corporation, and the full-time store manager of the Fixed at a designated location. The franchisor will also train one additional designated employee for free. The pre-formal training program lasts approximately 7 days, and the formal training program lasts approximately 19 days.
Territory: The franchisee will operate the franchise within a specific territory. The territory will typically be a circle with its center at the front door of the franchise, and the circle will have a radius stated in the Franchise Agreement. During the term of the Franchise Agreement, the franchisor will not operate or license a third party to operate, a fixed center to be located inside the territory, or to operate or license a third party to operate, a Mobile Business to provide the services and products to Institutional Facilities located inside the territory.
Term of Agreement and Renewal: The length of the franchise agreement is 12 years. If the franchisee has complied with all agreements, he or she may renew for another 12 year term.
Obligations and Restrictions: The franchisee or a center manager must devote full time, energy, and best efforts to the management of the My Gym business. The franchisor has the right to approve the center manager, who must also be successfully trained in accordance with the training program. The franchisee may sell and provide only products and services that conform to the franchisor’s standards and specifications
Total Number of Units: Total number of franchise outlets at year ended 2007: 167
Investment Tables:
Initial Investment:
Mobile Franchisee Fee
| Name of Fee | Low | High |
|---|---|---|
| Initial Franchise Fee | $25,000 | $25,000 |
| Apparel and promotional items | $500 | $750 |
| Travel and living expenses while training | $500 | $1,500 |
| Equipment | $2,500 | $4,000 |
| Insurance | $1,750 | $2,500 |
| Computer hardware and software | $0 | $2,000 |
| Miscellaneous costs | $1,000 | $7,000 |
| Additional funds- 3 months | $3,000 | $9,000 |
| Totals | $34,250 | $51,750 |
Fixed Center
| Name of Fee | Low | High |
|---|---|---|
| Initial franchise fee | $55,000 | $55,000 |
| Apparel and promotional items | $4,250 | $6,250 |
| Advertising and promotion | $7,000 | $12,000 |
| Travel and living expenses while training | $0 | $5,500 |
| Real estate and improvements | $25,000 | $40,000 |
| Equipment | $30,000 | $35,000 |
| Signs | $1,700 | $4,500 |
| Opening inventory | $3,000 | $5,000 |
| Insurance | $2,000 | $5,000 |
| Computer hardware and software | $2,000 | $3,000 |
| Miscellaneous costs | $4,000 | $7,500 |
| Additional funds- 3 months | $25,000 | $50,000 |
| Totals | $158,950 | $228,750 |
Ongoing Fees:
| Name of Fee | Amount |
|---|---|
| Royalty Fees | Fixed Center: 6% of Gross Volume Mobile Business: $125/month-$240/month; or 6% of Gross Volume |
| Website Hosting Fee | Fixed Center: Currently $250/year Mobile Business: Currently $0/year |
| Transfer Fee | Fixed Center: $15,000 Mobile Business: $7,500 |
| Advertising Contribution | Up to 1% of Gross Volume |
| Music Licensing Fee | As required by the music licensor; currently $500 per year. |
| Late Fees and Interest on Overdue Payments | $25 late fee, plus interest of 18% per annum. |
| Audit Expenses | Costs of audit. |
| Additional Assistance and Guidance | $150/person per day plus expenses of franchisor’s representative |
| Optional Training | Reasonable fee; currently $1,000 per person |
| Web-based employee training | Not presently charged |
| Supplier Testing | Will vary under circumstances |
| Securities Offering Fee | $5,000 or actual expenses, whichever is greater |
| Indemnification | Will vary under circumstances |
| Costs and attorneys’ fees | Will vary under circumstances |
The above information has been taken from the UFOC/FDD of My Gym
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