SpeedFit offers $20,000 discount to new franchisees

By Sarah Stowe | 27 Aug 2020 View comments

Studio-based fitness chain SpeedFit has a brand new offer for potential franchisees. Purchase an available territory before 2021, pay in full, and the franchisor will wipe off $20,000 from the $50,000 franchise fee.

SpeedFit CEO and co-founder Matej Varhalik tells Inside Franchise Business there is also an instalment plan deal for franchise buyers who aren’t cashed up but are still looking for a softer investment option. The full $50,000 franchise fee can be split over the franchise term.

“With extra time on our hands some of us may be finding ourselves
contemplating change. To go back to school, change jobs or even industries. We
can’t predict what the next month, week or even day can throw our way. But we
can create our future. Those within the customer service and hospitality industries
would be an asset,” he says.

So what exactly is SpeedFit? It’s a controlled fitness option that delivers an intense workout in a short time, with minimal activity from the clients who are wired up to electro magnetic stimulation technology to achieve results.

With just two clients at one time in a SpeedFit studio, the fitness chain’s business model has needed little adjustment through the crisis.

The business potential is good despite the pandemic, Varhalik says.

“All our WA locations are year on year up by at least 10 per cent. Sydney locations are on average back where they were before Covid,” he said.

 

With growth up front and central, Varhalik recently acquired direct competitor 20Pulses and will convert its three Melbourne studios to the SpeedFit brand.

“We bought the whole business, taking over all assets and goodwill as well as staff, so we going to rebrand all those locations and we will re-open them under SpeedFit brand once Covid restrictions are eased,” he says.

“We kept almost all 20Pulses team, so clients would see same people but more services would be available to them.”

There are further openings in the pipeline, with regional sites very much part of the mix.

“We are about to open another studio in Kotara, Newcastle which will be a franchise and Roland, our Sydney multi-unit franchisee (North Sydney & Gladesville) opens a new one in Bellavista in October.”