How long has Punch King Fitness been in business?
Punch_King_Fitness Franchise · 2024 FDDAnswer from 2024 FDD Document
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We began offering Punch King Fitness franchises as described in this disclosure document on March 8, 2023.
BUSINESS EXPERIENCE
King Lei, CEO
Mr. Lei is and has been our and our parent, Punch King, LLC CEO and Punch King Fitness Sunset, Inc. Owner since November 2021. Mr. Lei has also been an Integration Engineer with Global Healthcare Exchange at 1315 W. Century Drive, Louisville, Ca 80024, since January 2015.
Jeff Wallace, Director Of Operations
Mr. Wallace is and has been our and our parent, Punch King, LLC Director Of Operations and Punch King Fitness Owner since January 2023. Before, Mr. Wallace was the owner and CEO of Box IT Fitness Inc. at 1065 Route 47 S. Rio Grande, NJ, from May 2018 to January 2023.
Mauricio Mejia, President
Mr. Mejia is and has been our and our parent, Punch King, LLC President and Punch King Fitness Sunset, Inc. Owner since January 2023. Mr. Mejia has also been CEO of CalLaborExchange with an address of 299 Bassett Ave. San Jose, CA 95110, since January 2020.
LITIGATION
No litigation is required to be disclosed in this item.
BANKRUPTCY
No bankruptcy information is required to be disclosed in this item.
Punch King Fitness April 26, 2024 8
INITIAL FEES
Initial Franchise Fee.
The Punch King Fitness initial franchise fee is $50,000. The initial franchise fee is uniformly charged for all franchises currently being offered. You must pay the initial franchise fee in full when you sign the franchise agreement. The initial franchise fee is considered fully earned and is nonrefundable.
Area Development Fee.
Source: Item 21 — FINANCIAL STATEMENTS (FDD page 56)
What This Means (2024 FDD)
According to Punch King Fitness's 2024 Franchise Disclosure Document, the company began offering franchises on March 8, 2023. However, businesses similar to Punch King Fitness franchises have been operated by Punch King Fitness Sunset, Inc. (owned by King Lei), Punch King Fitness Sunset, Inc. (owned by Jeff Wallace), Punch King Fitness CMCH, LLC, and 299 Bassett Punch King, LLC (owned by Mauricio Mejia) since September 2021, July 2022, and November 2022, respectively.
For a prospective franchisee, this means that while the franchise system itself is relatively new, key individuals associated with the company have experience operating similar businesses for a longer period. King Lei has been the CEO of Punch King, LLC and owner of Punch King Fitness Sunset, Inc. since November 2021. Jeff Wallace has been the Director of Operations for Punch King, LLC and owner of Punch King Fitness since January 2023, and he owned Box IT Fitness Inc. from May 2018 to January 2023. Mauricio Mejia has been the President of Punch King, LLC and owner of Punch King Fitness Sunset, Inc. since January 2023, and he has been the CEO of CalLaborExchange since January 2020.
It's important for potential franchisees to note that Punch King Fitness, Inc. itself has a limited operating history as a franchisor. However, the experience of its leadership team in related businesses could be seen as a positive factor. Prospective franchisees should conduct thorough due diligence to assess the implications of the franchisor's relatively short franchising history and the experience of its key personnel.