Our Support to the Franchise
1) What is franchising?
Franchising is a continuing relationship in which the franchisor provides a licensed privilege to do business under the MMHBF brand along with assistance in organizing, training, merchandising and management in return for a royalty fee from the franchise.
2) What business qualifications does MMHBF seek in potential franchisees?
The primary qualities that MMHBF is looking for in franchisees are:
- Customer centric: understands the importance of customers, has experience in business or Industry, understands franchising & wants to be self employed, can weather ups & downs as a small business owner.
- Traits: is process oriented & process engaged.
- Finance: has the investment capacity or the access to the working capital required for the franchise, and is willing to commit for 5 years.
- Location: is open to locate in a strategic market, has local market knowledge.
- Capacity building: sees employees as valuable resource, is able to recruit & retain experience staff.
- Experience: is willing to take P&L responsibility, with general management aptitude, reasonable analytical skills.
3) What are the minimum financial requirements to obtain a MMHBF Franchise?
The financial requirements for the franchise are equivalent to the franchise set up cost + working capital for upto 3 months.
4) Will MMHBF finance the costs of the franchise?
MMHBF does not provide financing.
5) Can we obtain the funds to purchase a franchise from a relative, friend or associate?
Yes, however this would involve you in a type of partnership. Each group together must meet the financial qualifications and be willing to devote time and their best efforts to the operation of the gym.
6) What is the availability of opportunities in my area of interest?
The availability of franchises in specific geographic areas must be discussed with the management of MMHBF for the specific area for which you have interest. However, the availability of the locations may wary by the time the franchise qualification is complete. Therefore, geographic flexibility is a characteristic we seek in our franchises.
7) What is the franchise royalty rate?
The royalty fee is 15% of the revenue.
8) What kind of return may I expect to make on my investment?
Profitability depends upon a number of factors including sales, location, occupancy, operating cost, and the ability of the franchisee to manage and control the business. Franchise law prohibits us from making any claims; however, you could speak to other MMHBF franchises to get an idea of the same.
9) Does MMHBF provide training for new franchises?
Before the Gym opens, you will be required to attend an extensive training program with your team, the training program will take you through the training techniques as well as other aspects of the Gym management, and also covered in the training program will be the mandatory modus operandi for MMHBF gym.
10) What type of franchise support does MMHBF provide?
A: The Management team at MMHBF will provide you with business consulting support. Our team acts as business development managers. Their primary business focus is to evaluate results of your existing facility and provide support and business strategies to improve your organization and operation. In addition, they act as the liaison between MMHBF and you in providing marketing, financial opportunities, training, people development and any other need to add to the success with MMHBF Franchising.
11) How much time does it get to get approved as a franchisee?
Initial qualification involves a series of background checks and interviews and the verification of the documents provided. Hence to predict the actual time taken would be difficult, however approximately it would take around 8 to 10 weeks.
12) Who will do the interiors at the identified and approved location for the Gym?
As an independent business person, you are responsible for the interiors of your Gym, however MMHBF will provide all the standard requirements, and the interiors will be done as per the branding norms of MMHBF.
13) Can I use my own fitness programs at my Gym?
As MMHBF franchise, you will have to use only the techniques & training programs provided by MMHBF. In case of any specific program or regime designed by you, the same will have to be approved and certified by MMHBF product development team, before the same can be used.
14) Do I have to use specific accounting method at my Gym?
You must prepare and keep detailed records regarding all sales and other financial aspects of your restaurant operations. You may also be required to submit frequent reports as may be determined by the Franchisors.
15) I have an existing Gym/ Gyms, can I get a MMHBF franchise?
MMHBF franchise could be granted to you as per the normal qualification process; however, on receiving the same, you will require to continue with only the MMHBF format & franchise.
16) I have an existing chain of gyms, is MMHBF open to a business merger or in acquiring any Gyms.
Yes, MMHBF is open to both.
17) What is the area required for MMHBF franchise?
Depending on the model, the minimum area required for the franchising will range for 1200 sqft for a plain studio gym to 4000 sqft for a studio + pool. There is no upper limit of area required; formats can be designed for the much larger areas as well.
