Mayweather Boxing + Fitness has revealed details of its domestic franchising and international territory rights programme, which it says will enable it to expand the brand globally.

The fitness chain – created by former six-weight boxing world champion Floyd Mayweather Jr. last year – currently operates one site in Los Angeles.

The boxing legend has revealed plans to have 200 new openings within two years and to reach 500 sites in five years – and is hoping to drive the growth by offering low-cost franchise deals.

Mayweather said entrepreneurs will have the chance to open a new Mayweather Boxing + Fitness studio for as little as US$200,000 (€170,000, £152,000); or to convert an existing fitness business into a Mayweather Boxing + Fitness studio starting from around US$70,000 (€60,000, £53,000).

"Our goal is to have Mayweather Boxing + Fitness studios in neighbourhoods all over the world, providing fitness programmes for anyone who wants to train more effectively," Mayweather said.

Each Mayweather Boxing + Fitness studio will offer class-based boxing and functional training workouts for all levels of fitness, along with advanced tech features, including individual Virtual Reality sessions, heart-rate monitoring and daily workout videos.

The VR experience features a virtual Mayweather coaching individual users through routines that he himself used during his boxing career.

Mayweather said he will have a hands-on role in the venture as chair, with James Williams – a business development specialist and former Bain & Co. team leader – overseeing day-to-day operations as CEO.

Mike Melby, credited with expanding the UFC Gyms brand from six to 200 sites, is also part of the management team.