About Spenga
SPENGA is an unrivaled fitness experience. Unlike any studio of its kind, SPENGA combines three essential elements of fitness to create what’s simply known as the best workout ever. This unique concept delivers cardiovascular, strength, and flexibility training in every session. Through a combination of spin, strength, and yoga each workout is designed to improve endurance, strength, and flexibility.
Why a Spenga Franchise?
SPENGA is an unrivaled fitness experience.
Unlike any studio of its kind, SPENGA combines the three pillars of fitness: cardio, strength and flexibility into an all-in-one 60-minute workout. Through a combination of spin, strength and yoga, each workout is designed to improve endurance, strength and flexibility.
TRAINING & SUPPORT
WE ARE WITH YOU EVERY STEP OF THE WAY
– STAFF TRAINING
– STRATEGIC PLANNING
– MARKETING
– SITE SELECTION
– ARCHITECTURE & CONSTRUCTION
– RECRUITMENT
INVESTMENT
– FRANCHISE FEE*
$49,500
– INVESTMENT
$288,605 – $848,994
– PRE-OPENING MARKETING FUND
$20,000 – $30,000
– MINIMUM CAPITAL REQUIREMENTS
$250,000 LIQUID $500,000 NET
Company Founded
2014
Current Leadership
Roger McGreal, CEO
Started Franchising
2015 (6 years)
Total Number of Units
32 (as of 2020)
Part-Time / Full-Time
Full Time
How Much Does It Cost To Open A Spenga Franchise?
There are several costs associated with opening a Spenga franchise. There is typically a franchise fee set by the franchisor, which covers the costs of opening a franchise location. Some other commons fees include equipment fees, marketing fees, licensing fees, insurance, and taxes, to name a few.
Some franchises may have a weekly fee that the franchisee pays for operating a Spenga franchise. The weekly fee for opening a Spenga franchise is Royalty Fee Is Due By The 5Th Of Each Month Based On The Net Cash Generated By The Franchise For The Preceding Month.
The full breakdown of these fees can be found in the Financial Disclosure Document (FDD) provided to franchisees by the franchisor. The FDD report will contain additional information such as whether the franchise is renewable (Spenga Is Renewable) and does the franchise offer financing support (Spenga Spenga has relationships with third-party sources which offer financing to cover the following: franchise fee, startup costs, equipment, inventory, accounts receivable, payroll).
Spenga Company Details
Here are some additional details about Spenga.
| Initial Investment | $49,500 |
| Net Worth Requirement | $50,000 - $500,000 |
| Veteran Incentives | $5,000 off franchise fee |
| Royalty Fee | 7% |
| Ad Royalty | 2% |
| Cash Requirement | $250,000 |
| Term of Agreement | 10 years |
| Absentee Ownership | No |
| Run from Home | No |
| Part Time | No |
Training and Support Offered By Spenga
Spenga offers several support options to its franchisees. With 32 (as of 2020) units, Spenga aims to provide support to each franchise owner to help them operate a successful franchise location. Spenga offers 66.5 hours on the job training, 22.5 hours classroom training, and No additional training.
Training and Support Offered
Here are the support options offered by Spenga.
| On-The-Job Training | 66.5 hours |
| Classroom Training | 22.5 hours |
| Additional Training | No |
| Ongoing Support |
|
| Marketing Support |
|
Is Spenga Right For You?
Spenga has gone digital! Here are all of the ways you can find Spenga online. Oftentimes, you can reach out to current franchisees of Spenga online. Current franchisees may be able to offer personalized insights into what it is like owning a Spenga franchise and offer tips to running a successful Spenga franchise location.
Why Should You Start a Spenga Franchise?
Investing in a Fitness franchise such as Spenga can kickstart your franchise portfolio. Our goal at Why Franchise is to provide you with the resources needed to be a successful franchise owner. Fill out the form below to get more information about Spenga franchise and we'll be in touch soon!
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