Snap Fitness scoops 5-star franchise rating
Snap Fitness has become the first health and fitness franchise system in the country to achieve five stars on the Australian Franchise Rating Scale.
Chris Caldwell, Snap Fitness CEO, said the group’s capacity for innovation has helped it stay ahead of the game.
“We are extremely humbled and excited to have been awarded the highest rating possible by FRANdata,” he said.
“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 hardwork.
“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,” Caldwell said.
He said the business has “a very strong development pipeline” for the next few years, which will include welcoming both new franchisees and multi-unit franchise expansion.
The brand achieved its top ranking after demonstrating an exceptionally high level of transparency and franchise performance in an independent and fact-based assessment within seven key categories.
Australian FRANdata CEO Darryn McAuliffe predicts a heightened interest in the brand as a result of its high-level score.
“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,” he said.
“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’.”