Start a Granny Nannies Franchise in 2024

Franchise 500 Rank: N/R Not ranked last year

Initial investment: $55K - $87K

Units as of 2020: 28 6% over 3 years

Live True Yoga believes it offers a proven business model. It was founded in 2015 by Nicole Byars with a strong belief that everyone should practice yoga for the loaded benefits it may offer to both the mind and the body. Live True Yoga was created to reflect on diversity and help people live fulfilling lives.

Since starting its first franchise in 2020, the fitness company has dedicated itself to the progress of both its clients and franchisees. Live True Yoga offers Pilates, barre, and yoga in addition to special events and workshops for its students. The company also provides zoom, video classes, and a yoga teacher training school for different levels of yoga practice.

Why You May Want to Start a Live True Yoga Franchise

With today's conscious health culture, the Live True Yoga staff strives to ensure that there is always something for everyone in Live True Yoga by creating a warm and welcoming space while sticking to the company's core values. If you are an entrepreneur who would like to expand your business, you do not need prior experience in yoga. However, a passionate yogi with a good work ethic and excellent sales and communication skills is preferred.

Opening a Live True Yoga franchise may offer a more predictable outcome than investing in a completely new brand that could struggle to thrive in an already crowded and competitive industry.

What Might Make a Live True Yoga Franchise a Good Choice?

Instructors at Live True Yoga should be professionals with passion. They should be concerned with every individual during the yoga sessions. No absentee ownership is allowed, meaning that new franchisees should run and handle daily business operations while employing professional teacher trainers.

To be part of the Live True Yoga team, you should make sure you're financially ready for an initial investment made up of a franchise fee and other startup costs. In addition, you should prepare yourself for ongoing fees that will include advertising fees and royalty fees.

How to Open a Live True Yoga Franchise

If awarded a franchise, Live True Yoga franchisees receive a great deal of support from the Live True Yoga brand throughout the franchising process. In addition to pre-opening training, franchisees receive support through brand awareness, marketing, research, and construction. They also receive hands-on training and continued support after their franchise location has opened, including a workshop for the barre certification program.

There are plenty of territories and multi-units for potential Live True Yoga franchises. A typical franchise agreement runs for ten years.

Before making any financial commitment or signing an agreement, you must perform your due diligence and establish if this is the right opportunity for you. As part of your due diligence, you may want to speak to existing franchisees and ask questions directed to the Live True Yoga franchising team.

It may be a good idea to speak with an attorney or financial advisor to ensure that you have the necessary financial resources to own and operate a Live True Yoga franchise.

Company Overview

About Granny Nannies

Industry	Personal-Care Businesses
Related Categories	Senior Care
Founded	1990
Leadership	Robert Hodgson, President
Corporate Address	1912 Booth Cir., #300 Longwood, FL 32750

Business Overview

Franchising Since	1997 (27 years)
# of employees at HQ	11
Where seeking	This company is offering new franchises throughout the US.
# of Units	28 (as of 2020)

Information for Franchisees

Here's what you need to know if you're interested in opening a Granny Nannies franchise.

Financial Requirements & Ongoing Fees

Here's what you can expect to spend to start the business and what ongoing fees the franchisor charges throughout the life of the business.

Initial Franchise Fee Definition: The initial fee paid to a franchisor to join their system What you need to know: Found in Item 5 of the FDD, this may be a flat fee, or may vary based on territory size, experience, or other factors.The franchise fee is an up-front (one-time) cost that a new franchisee pays to the franchisor. This fee is usually due at the signing of the franchise agreement and covers the right to use the franchisor's trademarks, name, and related business systems.	$35,000
Initial Investment Definition: The total amount necessary to begin operation of the franchise What you need to know: The initial investment includes the franchise fee, along with other startup expenses such as real estate, equipment, supplies, business licenses, and working capital. This is outlined in a chart in Item 7 of the FDD, showing a range of possible costs from low to high.	$54,675 - $86,550
Net Worth Requirement Definition: The minimum net worth you must have in order to qualify to become a franchisee of this company What you need to know: Net worth is the value of a person's assets minus liabilities. Assets include cash, stocks, retirement accounts, and real estate. Liabilities include items like mortgages, car payments, and credit card debt.	$100,000
Cash Requirement Definition: The minimum liquid capital you must have available in order to qualify to become a franchisee of this company.	$54,675
Veteran Incentives Definition: A discount or other incentive offered to military veterans who buy a franchise with this company.	10% off franchise fee
Royalty Fee Definition: A ongoing fee paid to the franchisor on a regular basis. What you need to know: Most franchisors require franchisees to pay an ongoing royalty fee, which is detailed in Item 6 of the FDD. This fee is typically a percentage of weekly or monthly gross sales, but may also be a flat weekly, monthly, or annual fee.	5%
Ad Royalty Fee Definition: An going fee paid to the franchisor on a regular basis to support advertising or marketing efforts. What you need to know: This may also be called advertising fee, marketing fee, brand fund fee, and more, but the basic purpose is the same-- to support promotion of the brand systemwide. As with the royalty fee, it is detailed in Item 6 of the FDD, and can be a percentage of weekly or monthly gross sales or a weekly, monthly, or annual fee.	2%
Term of Agreement Definition: The length of time your franchise agreement will last. What you need to know: Franchise terms are typically anywhere from 5 to 20 years in length, but are sometimes instead dependent on factors such as the term of your lease. Once your term is up, you may have the option to renew your agreement, typically for a smaller fee than the original franchise fee.	10 years
Is franchise term renewable?	Yes

Financing Options

Some franchisors offer in-house financing, while others have relationships with third-party financing sources to which they refer qualified franchisees.

In-House Financing	Granny Nannies offers in-house financing to cover the following: franchise fee

Training & Support Offered

Franchisors offer initial training programs and a variety of ongoing support options to help franchisees run their businesses.

On-The-Job Training	3 hours
Classroom Training	37 hours
Ongoing Support	Purchasing Co-ops Meetings & Conventions Toll-Free Line Grand Opening Online Support Security & Safety Procedures Lease Negotiation Field Operations Site Selection Proprietary Software
Marketing Support	Co-op Advertising Ad Templates National Media Regional Advertising Social Media SEO Website Development

Operations

Additional details about running this franchise.

Is absentee ownership allowed?	Yes
Can this franchise be run from home/mobile unit? Definition: The business can be run from your home and/or a vehicle, and it is not necessary to have a retail facility, office space, or warehouse.	No
Can this franchise be run part time? Definition: This business can be run by the owner on a part-time basis (less than 40 hours per week) and/or as a side business; it is not necessary for the business to be open/run full-time.	No
# of employees required to run	2
Are exclusive territories available? Definition: An exclusive territory is a fixed area in which you are given the right to operate and in which no other units of the same franchise may be opened. What you need to know: Territory size may be based on factors such as radius, population size, zip codes, and more. Details can be found in Item 12 of the FDD.	Yes