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Snap Fitness Contest Offers Prize Of Business Franchise


Snap Fitness is sponsoring a summer contest to win one of their gym franchises, a prize valued at $250,000. CNN Money reported on how the innovative offering was designed to be as much a business promotion as a big prize.

"This is a way for me to reach out and help someone," said Peter Taunton, the owner of the multimillion-dollar Snap Fitness franchise. He explained that this “Partner Peter Contest” was a way to provide a unique business opportunity to someone who would represent the brand well. It is also a creative way to promote his business, which many franchisors now have to do in the face of today’s challenging credit situation and uncertain economic environment.

While the contest was intended a fun promotion, experts warn that the winner must be equipped with the skills and drive to run a small business properly. They also need the financial and emotional resources to commit to this new endeavor.

Launched in July and scheduled to run through mid-August, the contest has attracted approximately 1,000 people who have entered by submitting 250-word pitches to PeterTaunton.com. Many of these entrants have described their business experience and express a desire to work hard.

The contest will be judged by Mr. Taunton, some of his staff and long-time franchise owners who are primarily looking for a solid work ethic and strong motivation. They will narrow the entries down to twenty-five semi-finalists, with these entrants then having their essays posted online to be judged by the public. While the public’s opinion will matter, the final decision will be based on one-on-one interviews with Mr. Taunton. The grand prize winner will be announced in December and their new gym franchise will be fit to open by spring 2012.

Read more at cnn.com.

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