Kimberlee Perry is the founder of trampoline fitness company Bounce. In a recent interview with The BBC's weekly The Boss series, she told her story.
Kimberlee is an Australian native but has moved to London when she was 18. Back in 2014, when she was on maternity leave, Kimberlee and her husband moved to Harlow, Essex. Kimberlee admits that during that time she was suffering from postnatal depression and she was feeling lonely.
Amazingly, Kimberlee focussed her loneliness into sports - something that she admits to always having had a passion for. She explained that she had always used sport as a tool to connect with people but that, aside from mum and baby classes, she could not find any fitness classes where she could take her baby along to.
This prompted Kimberlee to set up on her own. Investing a grand total of £200 into this, she launched Bounce in 2014 by channelling her dance background with her love for fitness. She obtained fitness instruction qualifications and soon started teaching the classes.
I personally tried a Bounce class and it is so much fun (and definitely a great workout too)! So, it is no surprise that before the start of the Coronavirus pandemic, and in just 6 years of operating, Bounce had amassed to 47,000 monthly customers. This makes it clear that very quickly Kimberlee had to franchise her business so that others can take on some classes and to protect her original business idea too.
Not all of us have the means, ideas or drive that Kimberlee had to set up a business from scratch and that is absolutely fine. At the same time, when people see a great idea they do want to join too, which is why and how Kimberlee has managed to have 320 franchise studios around the UK.
The purpose of a franchise agreement is to regulate the relationship between the parties and is incredibly important as it will set out the terms regarding the basics such as the fees that a franchisee must pay to the franchisor (e.g. an upfront fee and then a certain share of the profits) as well as what support might be available from the franchisor to the franchisee during the set up or any ongoing support and help.
Our team is on hand to help you consider whether a franchise agreement is appropriate for your circumstances and assist you in reviewing or preparing one tailored to your specific situation and needs - whether you are an individual or a business entity. Please do not hesitate to contact us.