Below, we have answered some of the questions our franchisees have most frequently asked. If the answer to your question isn’t below, please include it when you submit your request for more information. We look forward to hearing from you!
Frequently Asked Questions about Fred Astaire Franchised Dance Studios
A: Because modern ballroom dancing has withstood the test of time, and is now more popular than ever! With a number of television programs promoting the appeal of dancing, plus the resurgence of the movie musical format, more and more people of all ages are turning to ballroom dance, for both social and health reasons. From wedding couples, young singles, empty-nesters and active seniors, more and more people of all ages are turning to ballroom dancing, for social and health reasons. A recent industry report also demonstrates the growing popularity of recreational dance, with dance studios representing an approximately $3 billion industry in the U.S. alone.
A: We will provide you with a pre-opening training program which includes a classroom-based management training portion of about 15 hours in duration. In addition, refresher training programs are offered, and site selection and start-up guidance is also provided. As a franchise owner, you will have access to all Fred Astaire Dance Studios’ trademarks, business model, teaching curricula and business procedures. We’ll also present you with a set of confidential operations manuals to help you run your dancing franchise business properly on a day-to-day basis.
A: You don’t need to have specific experience in the dance industry to become a franchise owner with Fred Astaire Dance Studios. Whether you currently own an independent dance studio and are looking to move up to the next level, you have a passion for dance but have never run a studio business, or you have business experience but don’t know the dance world, this could be the right opportunity for you. We look for people who are business-savvy with management experience, and who are professional, passionate, organized and display leadership qualities. We do prefer franchise owners who will be directly involved in the operations and growth of their Fred Astaire Dance Studios franchises. In turn, we’ll provide the training, materials, and support that franchisees need to run their Fred Astaire Dance Studios. We do, of course, also expect that franchisees have the right amount of capital to invest in the business.
A: The total investment for a single unit Fred Astaire Dance Studios franchise is estimated to cost between $87,500 and $191,000. This amount includes an initial franchise fee, which is set by our Area Representatives based on local market population and demographics. When you submit your request for more information, you’ll receive our FDD (Franchise Disclosure Document), with details on specific area franchise fees. As with any new business venture, it’s important that you have the capital needed to adequately fund your new business.
A: That is up to you! With the right people, location, and your sense of commitment and motivation, a Fred Astaire Franchised Dance Studio can be your path to a financially rewarding career.
A: Franchisees will be required to pay royalties at a rate of 8% of gross revenues from the preceding week. These royalties and fees allow us to fund our ongoing support services and the continued development of curricula and procedures, marketing tools, training programs, and system upgrades.
A: From the day you are approved and begin, the process will take between 3-6 months to open.
A: Absolutely! The Fred Astaire Dance Studios brand is well recognized worldwide, and we currently operate studios in North America, Europe, Africa and the Caribbean.
A: Franchisees will be required to spend 5% of gross revenues on local advertising expenditures. Franchisees will also contribute up to 2% of gross revenues as a Marketing Alliance fee; currently the fee is $100 per month. Collected funds are used to develop marketing strategies to promote the Fred Astaire Dance Studios brand, and fund the creative costs to develop franchise marketing materials and campaigns.
A: We do not offer direct financing to franchisees. We may be able to provide references to qualified financing or lending resources, on a case-by-case basis.
A: The initial term of your franchise agreement is five years, with subsequent successor agreement options of five years each.