Starting IM = X Pilates Studio Franchise
This article discusses the step-by-step in starting an IM = X Pilates Studio Franchise. The IM = X Pilates franchise is an investment that makes many entrepreneurs into a business of fast and high returns.
With the growing number of people engaging in pilates as stated in the Wall Street Journal (participation tripled from 2.4 million people to 10.4 million in 2005), owning a franchise of IM = X Pilates studio is indeed a win-win situation.
Starting an IM = X Pilates Studio franchise entails a step-by-step procedure which should be followed and complied with.
The foremost step includes the download and review of certain documents which may be helpful in deciding whether starting an IM = X Pilates Studio is for a potential franchisee. These documents include a brochure that discusses the studio and what to expect from franchising it, a sheet containing frequently asked questions regarding the business, and a worksheet detailing the necessary start-up capital.
The IM = X Pilates Studio can be franchised either express or full. An express franchise has an estimated start-up cost of $52,999, inclusive of a franchise fee which is around $18,000. For a full franchise, the estimated start-up cost is around $119,014. It already includes the initial franchise fee of $24,000. There is also a royalty fee which varies depending on the revenues of the business.
After having the basic information on the franchise of IM = X pilates studio, a prospective franchise owner is now to set a meeting through phone with the studio management via the internet or phone line. This phone meeting includes as its agenda the target area and the franchisee’s questions regarding starting his or her own IM = X pilates studio. After which, the management will coordinate with its team specializing on real estate to search for a strategic location.
The next step involves the download and completion of a Candidate Application which must be faxed to the IM = X’s fax number or emailed to its address. The management after review of the franchisee’s information will set for a second phone meeting. This time the agendum revolves around the target goals of the franchisee. Also, the management will send the prospective franchise owner a copy of the document Uniform Franchise Disclosure through email.
With the given documents, it is the franchisee’s duty to check and review them with a lawyer or a hired business advisor. Should there be any clarifications or questions, the management is will to discuss and give enlightenment to these. It is highly recommended that a potential franchise owner of IM = X Pilates Studio to visit any location to personally experience the services and workout given in an environment that is surely satisfying and relaxing.
The last step to owning an IM = X pilates studio franchise is defining an exclusive territory. This territory must be one that has been seen fit and strategic by the real estate team of the IM = X. After which, a Franchise Agreement between the franchisee and the franchisor (IM = X) has to be signed. This Franchise Agreement expires in 10 years and can be renewed thereafter.
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