|News & Know How| News
Want a Business? It’s a Snap! Three finalists named in free-franchise competition
N
early 2,000 individuals entered the contest, but, by the end of September, only three potential franchisees remained.
Snap Fitness, the Chanhassen, Minnesota–based fitness franchise, launched its “Partner with Peter” competition—with a top prize of a free Snap operation—in June, and, soon, submissions were pouring in from a multitude of driven, aspiring business owners.
Peter Taunton
Speaking to CNN, Snap founder and CEO Peter Taunton explained that he’d had a strong desire “to reach out and help someone.” That had led him to launch the contest, which will award one lucky winner a single franchise location; standard equipment for an average-sized club; security deposit for facility leasing; $20,000 working-capital allowance; training at Snap headquarters; site selection help; and a dedicated account manager. All told, the grand prize is worth an estimated $250,000, and, according to Taunton, represents “the opportunity of a lifetime.” The three finalists, announced in late September, were: Robert Bishop, a U.S. Army infantryman from Reston, Virginia;
> | CBI’s Eye on the Economy |
Pricing for lessons and instruction climbs higher over summer To take advantage of this situation, club operators might want
>The disparity between pricing trends for membership dues and club fees and lessons continued to grow wider over the sum- mer. Prices for the latter were 1.84% higher in July than they’d been in July 2010, and 1.93% higher in August than they’d been in August ’10. Prices for “all items” tracked a similar, but steeper curve: they were up 3.63% in July and 3.56% in August. Pricing for membership dues, however, continued to drop—down
2.96% in July, (compared year to year), and by 2.67% in August. Higher price tags for lessons and instruction represent some-
thing of a positive sign for the industry. During the summer, when club usage is typically low, consumers indicated they were willing to pay more to access fitness and sports-related instruction.
-5 -4 -3 -2 -1 0 1 2 3 4 5
to consider conducting cross-promotions with seasonal sports activities throughout the fall. You might, for instance, prompt increased spending on the part of your avid runners by offering a gift card to a running specialty store with the purchase of a fitness evaluation … Or hold a raffle for a snowboard for members who sign up for a snow-sports training workshop … Or, if yours is a multipurpose club, consider promoting private and group instruction for sports such as tennis, swimming, squash, rock climbing, etc. —|
For more detailed monthly information and additional Producer Price Indexes, please log on to
ihrsa.org/research.
Consumer Prices & National Economic Trends (% change same month previous year)
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Club Dues (NSA*) Fees for Lessons (NSA) All Items (NSA)
Note: NSA: Not Seasonally Adjusted 22 Club Business Internat ional | NOVEMBER 2011 |
ihrsa.org
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