AKT is a dance based cardio fitness and wellness brand, fueled by positivity and a combination of personal training, and movement-based technique. A unique combination of toning, interval circuit, and dance-based workouts, with new original programming created every 3 weeks.
At the studios, there are 4 types of classes offered: Dance, Bands, Tone, Circuit.
Developed by Celebrity Trainer, Anna Kaiser, AKT is a prescription-based dance concept, deeply rooted in movement and positive energy. Fueled by positivity and a belief that movement has a powerful, lasting impact, AKT is for all body types and fitness levels. With this positivity and combination of personal training and movement-based technique, AKT empowers members to become stronger in their bodies, minds, and communities – and they have fun doing it!
|Item||Estimated Amount (in USD)||When Due||To Whom Payment is to Be Made|
|Initial Franchise Fee||$60.000||$60.000||Signing of FDD||Franchisor|
|Travel & Living Expenses While Training||$500||$3.000||Piror to Training||Airlines, Hotels and Restaurants|
|Real Estate/Lease||13.000||46.000||As incurred||Landlord|
|Leasehold Improvements||136.000||225.000||As incurred||Approved Suppliers, Architects and Contractors|
|Signage||18.000||30.000||As incurred||Approved Suppliers|
|Insurance||900||2.500||Before Opening||Insurance Carrier|
|Exercise Equipment Lease – 3 Months||4.800||6.900||Before Opening||Approved Suppliers|
|Proprietary Initial Inventory Kit||12.000||12.000||Before Opening||Franchisor|
|Licenses and Permits||0||5.000||Before Opening||Local, State or Federal Government|
|Professional Fees||4.500||4.500||As incurred||Approved Suppliers|
|Sound Consultant||1.500||3.500||As incurred||Approved Suppliers|
|Audio Visual Equipment||52.000||52.000||As incurred||Approved Suppliers|
|Computer System||2.500||3.500||As Incurred||Third Party Vendors|
|Opening Support Program and Other Marketing Spend||15.000||15.000||Before Opening||Approved Suppliers|
|Instructor Pre-Opening Training and Related Expenses||10.500||21.000||Before Opening||Franchisor, Third Parties|
|Additional Funds – 3 Months||10.000||40.000||As incurred||Personnel, landlord, Approved Supoliers and other Third Party Vendors|
|Average Number of Members as of December 31, 2019||Centers that Attained or Surpassed the Average Member Number||Median Number of Members as of December 31, 2019||Centers that Attained or Surpassed the Median Member Number|
|Centers with top 10% membership counts (51 centers)||333||19 or 37%||304||26 or 51%|
|Centers with middle 80% membership count (412 centers)||176||196 or 48%||172||205 or 50%|
|Centers with bottom 10% memebrship counts (151 centers)||83||31 or 61%||89||25 or 49%|
|Average Gross Revenue||No. of Studios||No. of Studios Above Average||High Reported Gross Revenue||Median||Low Reported Gross Revenue|
|Disclosed Studios||$1.079.401||2||1 (or 50%)||$1.314.141||$1.079.401||$844.661|
FDD Disclosure: “In the Chart below in this Item, we disclose the average “Gross Revenue” generated from the calendar year 2019 (the “Measurement Period”) by the only two (2) Studios that were open and operated over that entire calendar year utilizing our Proprietary Marks and System (the “Disclosed Studios”).
These two Disclosed Studios opened in November 2013 and November 2015, respectively, and both have operated continuously since opening. We excluded the four (4) other Studios open and operating of as December 31, 2019 – one (1) of which was affiliate-owned, with the other three (3) owned and operated by our System franchisees – because those Studios did not open until some point in 2019 and, as such, were not open and operating over the entire Measurement Period.
This Item 19 also excludes any disclosures related to the two (2) pop-up “studios” that our founders operate from time-to-time on a temporary basis under the Proprietary Marks because these Studios are not operated in a substantially similar manner to the Franchised Business (in terms of hours of operation or Studio environment) and, as such, are not the kind of traditional Studio accounted for in this Disclosure Document.
We and the owner of the Disclosed Studios have an agreement for the Disclosed Studios to be operated pursuant to a franchise agreement with us and, once we enter into such franchise agreement(s), the Disclosed Studios will be operated as franchised Studios moving forward.”
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