How much working capital do I need?
This will be largely based on the lease arrangement you are able to negotiate. Most Landlords will provide a capital contribution and a rent free period to assist new businesses in starting. This will obviously reduce the working capital needed to open a MyFirstGym location.
On average though new Franchisees should have $250,000 minimum at their disposal, the remaining balance may be gained personally (if qualified) by way of a bank loan or other financial product.
How much support will I receive?
Our Global Head Office & State based Area Development Teams are industry leading experts in fitness and business, focused on developing programs, technology, branding and business growth strategies that will keep the MyFirstGym brand and consequently the Club Teams ahead of the game. Franchise Owners and their Teams will enjoy the benefits of an extensive support system and can take pride in the fact that through cutting edge insights, their business will change the way children learn, move and interact. Our Head Office team will also provide ongoing training and staff development to allow each franchise to flourish.
The Support / Training & Development Program at MyFirstGym will focus on all aspects of setting up and running a successful club. This includes recruitment and training of staff, Sales and Marketing to ensure a successful pre-sales program through to opening, ongoing training concentrated to your first 90 days, and ongoing support and training to ensure consistency, performance and competency.
How long is the application process?
Our application process is detailed and thorough so that as an incoming Franchisee you feel that you are being given all of the information necessary to feel confident about being a part of the MyFirstGym brand. In addition, our Area Developers are experienced in knowing the level of commitment and resources needed to be successful as a Club owner. So they will be able to take the time to be open and transparent about whether MyFirstGym will be a good fit for your personal situation. With that being said, the process can move as fast as you are comfortable with.
What if I want to own more than one MyFirstGym?
That’s Fantastic. We already have Franchisees within the network that own multiple clubs and see that as a major growth avenue for MyFirstGym into the future. Best to discuss this with our Area Developer when you speak with them.
Do you offer support with marketing?
Building and maintaining the MyFirstGym brand while delivering strong marketing campaigns at club and national level are vital elements of business growth. Our national marketing team will provide ongoing support from day one, putting strategies in place to generate a buzz around your club while delivering quality leads to continually grow your membership base and nurture existing members to ensure maximum retention.