SpeedFit helps franchisees achieve post-pandemic prosperity with new partownership model
Australia's largest EMS (electronic muscle stimulation) personal training franchise company, SpeedFit, has announced that it will offer new franchise owners an opportunity to get into the market with a unique, part-ownership model, designed to help boost small business ownership in the wake of COVID-19.
Talking about the offer, Matej Varhalik, CEO and cofounder of SpeedFit, said:
“Starting a small business post-Covid will be tougher than ever, however I believe if provided with the right opportunity and support, it could be a real option for those who otherwise are recently unemployed and finding it difficult to get back into the workforce or those who do not see any opportunity to own their own business due to large amount of money usually required.”
“We started SpeedFit in 2013 and have spent many years perfecting the business model, including our systems and processes, and despite lockdowns and border closures we had the best year of performance in 2020 with 76% YoY growth. We know our model works so we have decided to reduce the barriers to entry for those interested in running their own business in the health & wellness space, and will provide the necessary training and education to help them succeed.”
Prior to announcing the national offer, SpeedFit trialled the part-ownership model at their Kotara, New South Wales location.
Amy Hart, co-owner of SpeedFit, Kotara, said:
“A few years back I was carrying some major injuries and found nothing worked for my rehabilitation until I tried SpeedFit. I was not only blown away by the results but the entire, personalised experience and soon became a studio manager. I soon realised that what I really wanted was to own my own SpeedFit studio so I approached Matej and asked if there was any way we could make it happen. I was upfront about the fact that I couldn't afford to buy a franchise on my own but instead of saying, ‘no’, Matej said, ‘let’s work something out.
“The part ownership model works perfectly for me right now and fits into my plan to not only one day have 100% ownership but also open a few more studios. To have someone place that sort of faith, time and money into me is an incredible feeling and I am so pleased that only six months’ since opening we are now the Number 1 studio in the country for the most sessions offered each week.”
In addition to providing funding assistance, SpeedFit also helps the franchise owner with searching for the best location, the studio fitout and offers full training and support to ensure
the franchise owner is set up for success.