Many business owners on Long Island are looking to expand their brand through the franchise model.
According to a recent article in Newsday, one franchisor looking to expand his presence worldwide is Josh York, Founder and CEO of GYMGUYZ.
The brand began franchising in 2014 and has already expanded to 71 locations in 14 states. The brand provides personal training and brings workouts to the client's home, office or setting of choice. GYMGUYZ serves clients ranging from age four to 101.
“It is very easy to scale the business,” York, 33, told Newsday, adding the total investment to open a location is $75,000, plus a 6 percent royalty and 2 percent ad fee. “You are in a moving billboard. Our profit margins are going to be higher because of the fact that there is no brick-and-mortar, so expenses are really low.”
GYMGUYZ expects to have $3.5 million in revenue and 100 locations in 20 states by the end of 2016.
Read the full story here.