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Floyd Mayweather has never been shy about branching out into various businesses. His next venture? Franchising gyms.
The boxer, who finished his professional career at 50-0 with a knockout of Conor McGregor last August, announced this week how much he would charge for those interested in using his name and to license his training program, including the use of a virtual reality Mayweather training system.
"We hope to have 250 gyms in the U.S. and 250 gyms internationally in the next three to five years," Mayweather said from the flagship gym in Los Angeles that opened in late January.
The cost to build out the gyms are projected to be $70,000 for an existing gym structure and $200,000 from the ground up. New owners are also required to pay a one-time $25,000 franchise fee and to pay 6 percent of income in a royalty fee back to Mayweather.
The classes include boxing, speed and agility work, and virtual reality with Mayweather.
"This comes from me wanting to give back," Mayweather said. "I want to see people look good, and I've seen so many people go to gyms and not be happy with what they are doing."
Boxing fitness gyms have been on the rise lately, most notably Rumble, which has three establishments in New York City. Earlier this year, Rumble received an investment from gym franchise Equinox that valued the brand at $80 million.
"I always wanted to try this," Mayweather said. "I know this. You can't be successful at something if you don't try."
Floyd Mayweather has never been shy about branching out into various businesses. His next venture? Franchising gyms.
The boxer, who finished his professional career at 50-0 with a knockout of Conor McGregor last August, announced this week how much he would charge for those interested in using his name and to license his training program, including the use of a virtual reality Mayweather training system.
"We hope to have 250 gyms in the U.S. and 250 gyms internationally in the next three to five years," Mayweather said from the flagship gym in Los Angeles that opened in late January.
The cost to build out the gyms are projected to be $70,000 for an existing gym structure and $200,000 from the ground up. New owners are also required to pay a one-time $25,000 franchise fee and to pay 6 percent of income in a royalty fee back to Mayweather.
The classes include boxing, speed and agility work, and virtual reality with Mayweather.
"This comes from me wanting to give back," Mayweather said. "I want to see people look good, and I've seen so many people go to gyms and not be happy with what they are doing."
Boxing fitness gyms have been on the rise lately, most notably Rumble, which has three establishments in New York City. Earlier this year, Rumble received an investment from gym franchise Equinox that valued the brand at $80 million.
"I always wanted to try this," Mayweather said. "I know this. You can't be successful at something if you don't try."
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