by Kate Knable
Posted 2/22/2010 12:00 am
Updated 2 years ago
Owners: Bill Rahn and Ann Scoggins
Address: 400 N. Bowman Road, Little Rock 72211
Phone: (501) 353-0224
Web Site: www.snapfitness.com/littlerock
Hours: 10 a.m.-6 p.m. Mon.-Fri. (staffed), by appointment Sun., 24 hours per day all week for members
Startup: Jan. 27, 2010
Bill Rahn has been thinking entrepreneurially for years.
As a program manager for the Winthrop Rockefeller Foundation, an organization in Little Rock that encourages entrepreneurship, Rahn thought daily about the problems and benefits of going into business on his own.
When his position at the foundation was eliminated and he found himself without a job, Rahn felt put on the spot.
"Going into business myself seemed like the right thing to do," Rahn, 58, said.
After researching and seeking advice from experienced business owners, Rahn and his wife, Ann Scoggins, decided to open Snap Fitness, a franchise that advertises 24/7 access to cardio equipment, free weights and strength machines. Club members receive an access card allowing them to enter the fitness facility at any time of the day or night.
Rahn is the club's manager and Scoggins helps when she is not working full time as an occupational therapist. Their club is the first Snap Fitness in central Arkansas.
"Beyond operating a business, it's great to offer a chance to get in shape," Rahn said. "I like that about the business."
Rahn chose to open a Snap Fitness because he likes the franchise's business model and the freedom it allows its franchisees as they set up individual clubs and determine club locations.
"They're accessible and have a great base of knowledge," Rahn said. "I trust their advice."
Rahn financed the club with his private savings and a conventional bank loan.
He said the fitness equipment and the remodeling of the club building were the costliest parts of his investment. Rahn paid about $15,000 in franchise fees and pays monthly royalties. He estimates that in general a club like his costs more than $150,000 to start.