SpeedFit franchise development manager, Lauren Travers, takes the Franchise Business Q&A.
How long has the business been trading?
SpeedFit has been transforming the fitness landscape since its establishment in 2013, introducing EMS (electro-musclular stimulation) technology to Australia and New Zealand. With a solid foundation, SpeedFit ventured into franchising in 2017. Our franchise network has flourished, spreading our efficient, low-impact and results-driven EMS personal training fitness across Australia and New Zealand.
What does it cost to buy a franchise?
An investment in a SpeedFit Studio starts at $150,000. That includes the franchise fees and documentation, initial and ongoing scheduled training, pre-launch marketing, equipment range, and fit-out, but it’s dependent on the space.
What are the core areas of your company’s business?
SpeedFit specialises in delivering fast, efficient, and effective whole-body workouts using EMS technology. Our boutique studios provide personalised training experiences tailored to all fitness levels. Our low-impact sessions achieve tangible results in just 20 minutes. We are NDIS providers trained in protocols to support people living with diabetes.
Who is a typical customer and do you have any plans to reach a different demographic?
Our typical customer is a health-conscious individual, primarily female, aged 35 and above. Many are over-scheduled parents seeking efficient workout solutions without sacrificing time with their families. We also work with professionals looking to maximise their fitness results in minimal time.
We’re constantly innovating to reach new demographics, including younger adults eager for cutting-edge fitness technology and seniors desiring accessible, low-impact workouts. Additionally, as an NDIS provider offering diabetes-safe fitness programs, we’re committed to supporting individuals with specific health needs, further broadening our reach and making fitness inclusive for everyone.
Spotlight on SpeedFit’s brand offer
What makes your brand stand out from the competition?
SpeedFit isn’t a gym, it is a fitness solution. Our exclusive EMS technology delivers unparalleled results in minimal time, setting us apart from traditional workouts. With boutique studios and personalised training, we redefining the fitness landscape one 20-minute session at a time.
Key franchise features
- Boutique studio
- Minimal staffing required
- Small real estate footprint 80-100m2
- Limited equipment investment
- Low breakeven point
- ~70 per cent opt for 12-month memberships with ongoing payments
- Personalised training
- Tailored to all fitness levels and abilities
- Fast and effective
Additional features
- TGA-Approved technology: Approved by the TGA, the Symbiont Tec Suits (ARTG 427858 and ARTG 426211) offer a superior fitness experience.
- NDIS authorised provider: SpeedFit is an authorised provider under the NDIS, offering accessible fitness solutions.
- Diabetes-friendly fitness: SpeedFit Studios understand diabetes protocols, providing a safe and effective workout environment for people living with diabetes.
Why is this a good business for a franchisee to buy into?
SpeedFit offers franchisees a dynamic opportunity to be part of a thriving industry while making a meaningful impact on their community. As an owner-operator business with minimal staffing requirements and a low breakeven point, it ensures a manageable and cost-effective operation. With low overhead costs, comprehensive support, and a proven business model, franchisees can achieve financial success while empowering others to live healthier, happier lives. This unique combination of efficiency and community focus makes SpeedFit an exceptional investment.
Which element of franchisee support is the most well received?
Franchisees highly value SpeedFit’s extensive training and ongoing support system. We equip them with the knowledge, skills, and resources needed to thrive in the fitness industry. By fostering a culture of continuous learning and development, SpeedFit empowers franchisees to stay ahead of the curve and drive success.
How many hours a week does a franchisee typically work?
Franchise owners typically dedicate ‘an average work week’ to their SpeedFit studio, though the hours are flexible and rarely conform to a standard 9-5 schedule. The exact hours may vary based on individual preferences and business demands, but our flexible model allows franchise owners to maintain a healthy work-life balance while pursuing their entrepreneurial dreams.
This adaptability ensures that franchisees can tailor their studio commitments to fit their lifestyles, making it an ideal opportunity for those seeking both professional and personal fulfilment.
What drives your growth strategy?
SpeedFit’s growth strategy is fueled by a commitment to innovation, community engagement, and strategic expansion. We prioritise quality over quantity, focusing on prime locations with high demand for innovative fitness solutions. By leveraging technology, market insights, and franchisee and client feedback, we ensure sustainable growth while staying true to our core values.
What are your expansion plans?
Putting the spotlight on growth at SpeedFit, over the next five years, we aim to establish a formidable presence in key markets across Australia and New Zealand. Currently, we have 30 studios delivering over 150,000 sessions annually. Our ambitious goal is to grow to 200 studios, with 180 in Australia and 20 in New Zealand, each having an average of 150 active members.
This expansion will allow us to deliver more than 2,000,000 sessions across our network in one year, making SpeedFit the go-to destination for efficient, results-driven fitness experiences. We plan to strategically expand into untapped territories while strengthening our foothold in existing ones. We will continue our mission to revolutionise the fitness industry with our innovative EMS technology.
Share one exciting innovation or development on the horizon
With TGA-approved Symbiont Tec Suits used throughout our studio network, the time has come to expand into remote training opportunities. SpeedFit is preparing to elevate the SpeedFit experience beyond the confines of brick and mortar. This revolutionary platform will usher in a new era of fitness with virtual training sessions, bespoke workout plans, and exclusive content, empowering clients to stay engaged and driven from any location. This is poised to redefine how individuals engage with fitness in the digital age.