Myzone is the industry’s leading wearable technology solution. Myzone’s wearable products show and reward effort when you work out. It displays accurate real-time heart rate, calories, and…read more
FRANdata gives Snap Fitness 5-Star franchise rating
Despite COVID-19’s significant economic impact on the fitness industry, Snap Fitness has become the first health and fitness franchise system in the country to achieve a five-star accolade on the Australian Franchise Rating Scale™.
Rated by leading business intelligence and information advisory - FRANdata Australia - Snap Fitness was recognised as the highest performing brand after demonstrating an exceptionally high level of transparency and franchise performance following an independent and fact-based assessment within seven key categories.
Australian FRANdata Chief Executive, Darryn McAuliffe recognised the strong performance demonstrated at Snap Fitness across the nation and anticipates a heightened interest in the brand as a result.
McAuliffe notes “the review team was particularly impressed with the internal data collection and reporting capabilities which enabled the effective monitoring of franchise performance and early warning signs where additional support may be warranted.
“Snap Fitness also evidenced a strong commitment to the measurement and ongoing monitoring of franchisee satisfaction. These factors coupled with a disciplined recruitment program have contributed strongly to a very low churn rate across the network.
“It will be no surprise there will be a heightened interest in Snap Fitness from the lending community, particularly given a Franchise Underwriting Report has also been completed, categorising Snap as having a ‘low default risk’.”
Snap Fitness Chief Executive, Chris Caldwell says it all comes down to collectively implementing innovative methods to stay ahead of the game, explaining "we are extremely humbled and excited to have been awarded the highest rating possible by FRANdata. Our franchisees and their teams go nothing short of above and beyond to achieve excellence in their clubs, so it is with incredible pride that I say this is a reflection of their hard work.
“We continue to work hard to ensure our franchise model is nimble, adaptive and forward thinking and it is a standard we are committed to serve well into the future,”.
“Snap Fitness has over 500 clubs across Asia Pacific open or in development with a very strong development pipeline established into the next few years. This development pipeline is about creating opportunities for both existing and new Franchisees to join our brand.”
Rating assessment outcomes from the Australian Franchise Rating Scale™ are being delivered now to participating franchise systems and recorded in The Australian Franchise Registry™.
The seven key categories under observation in the Australian Franchise Rating Scale™ are:
• System performance
• Franchisee financial performance
• Franchisee engagement and satisfaction
• Franchisor training and support
• Franchisor financial performance
• Lender relations
• Compliance and assurance
Image: Snap Fitness Chief Executive Chris Caldwell.
27th January 2021 - Snap Fitness starts 2021 with nine new clubs in nine weeks
24th November 2020 - Snap Fitness raises $66,000 to support mental health initiatives
3rd September 2020 - Snap Fitness aims to raise more than $50,000 to support mental health initiatives
20th August 2020 - Snap Fitness strengthens global leadership team
12th August 2020 - Snap Fitness reports rise in club memberships following COVID lockdown
11th March 2020 - Snap Fitness franchisor announces plans for 300 locations in Japan
6th February 2020 - Snap Fitness expands into Tasmania
9th January 2020 - Snap Fitness expands Brisbane Lions partnership
29th November 2019 - Snap Fitness Club defibrillator helps save member’s life
22nd October 2019 - Snap Fitness launches five new clubs in five weeks
9th October 2019 - Snap Fitness backs Mental Health Awareness Week
21st September 2018 - Snap Fitness franchises around the world to use Myzone technology
31st August 2017 - Snap Fitness offers ‘less intimidating environments’ for older exercisers
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