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Floyd Mayweather Gets Ready for New Business Venture to Franchise Boxing Gyms

Megan Turnbull

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Floyd Mayweather Gets Ready for New Business Venture to Franchise Boxing Gyms

Floyd Mayweather finished what was already an impressive and successful boxing career with a 50-0 record; defeating Conor McGregor in his final fight before retiring.

The fight, which was tagged “The Money Fight”, took place last August and earned Mayweather millions of dollars from pay-per-view buys, gate, merchandise sales and sponsorship revenue.

However, the retired boxing champion isn’t getting too busy basking in the memories of his career achievements. Mayweather is now taking on the challenge of franchising gyms and putting his money to work.

Last month, July 2018, he revealed his plans to get his name and his training program licensed.

Mayweather is hoping to have built 500 gyms before the end of the next five years. With a goal of 250 locations in the United States and the rest internationally.

There are also plans in place to implement a hi-tech virtual reality training system.

The Projected Costs and Franchise Fees

The costs to get the gyms up and running are estimated to be around $70,000 for a gym structure already existing. In the case of gyms that will be newly built, a projected $200,000 would be needed.

A single payment of $25,000 would also be required for its franchise deals. The franchisees must give back in royalties, 6% of their income to Floyd Mayweather.

 

What Does this Mean for Gym Members?

The gym classes would include regular training experiences such as speed training as well as boxing and agility drills. The height of the training experiences in Mayweather’s gyms will be a virtual reality system.

Members will get the chance to train with the boxing specialist himself in virtual reality sessions; this may just offer thousands of people around the world the chance to train more effectively.

As for the undefeated boxing champion, this is a new adventure but not completely new territory. He has always been interested in getting into different kind of business ventures.

If he achieves numbers similar to those in his boxing career, then this can be considered a big victory outside the boxing ring.

Megan Turnbull is a political entrepreneur, commentator, and writer. She uses her wealth of experience to provide audiences with vantage views of both the political and non-political world, dishing out shrewd, tried and true information and guidance for a better business and a better world.

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