Health and wellbeing is the smart place to put your money today. With the industry experiencing continued growth year on year, investing in a fitness franchise gives you access to a high-intent, established customer base.
Tapping into this rich market of health and wellness seekers will help your new franchise business grow far faster than if you were to begin from scratch. However, that doesn’t mean that purchasing a fitness franchise is an easy way to make an income. Owning a fitness franchise still takes a lot of hard work to bring those customers in initially – and keep them coming back.
Thankfully, many fitness franchise brands offer extensive support packages to help you get started. From using a well-established brand name to all-round business development support, there are extensive benefits to going down the fitness franchise route rather than setting up as an independent.
However, different fitness franchise brands offer varying levels of investment in you as a franchise owner. Choosing the wrong option could be a costly mistake that compromises your current capital. Therefore, before you make any decisions, it’s important to have all the facts so you can be certain that the fitness franchise route is right for you.
Is Owning a Gym Franchise Profitable?
Before finalizing any franchise purchase, it’s important to consider if this business aligns with your financial goals – put simply, is owning a fitness center profitable?
The answer to this will depend entirely on the franchise brand you choose, as well as the type (and extent) of support offered to franchisees. Whether you’re a first-time investor or expanding your portfolio in a new industry, start-up support is crucial to long-term success.
Understanding the support package of each potential franchise, and comparing these during the research phase, can lead to confusion as to which brand is offering the best value for your money. If you want to learn from the mistakes of others while successfully navigating the pitfalls of franchise ownership yourself, it’s a good idea to work alongside a franchise consulting team with extensive, up-to-date knowledge of the fitness industry.
With the right consultant team, you can benefit from unparalleled knowledge and experience – without making the most common, and often expensive, mistakes yourself.
Turning a fitness franchise into a profitable business is much easier and faster when you have the right support in place from the start. Some franchise owners are reporting revenues in millions of dollars, whilst others are in the low six figures. Making an informed choice before laying down your capital is the best way to achieve your financial goals.
How Much Does a Fitness Franchise Cost?
Costs vary between brands. Typically, those brands offering more business support, access to high-quality equipment, an established brand name, as well as a well-defined marketing pack will involve a higher investment of capital at the outset. However, the boost towards achieving your full potential as a fitness franchise owner helps achieve your goals faster than setting up a solo venture.
Aside from the initial capital investment, there may also be ongoing fees to be paid from your revenue which will impact future profitability. Fees may include annual franchise fees, royalties, or a contribution towards marketing activities that benefit the brand as a whole. Other business expenses should also be considered before making your decision, such as the cost of insurance, equipment maintenance, and staff.
To get the best deal possible, it’s worthwhile speaking with a specialized franchise consultant, such as Guerrilla Franchising, who can help you compare and contrast the various costs and benefits of top fitness franchise opportunities.
What Do You Need to Start a Fitness Business?
If you’re ready to start your fitness business, it’s important to do your research. Researching the location, local demand for fitness centers, and competition in the area can help you narrow down the best options. Researching possible franchise opportunities, as well as comparing the start-up costs, and the benefits included, and perhaps even speaking with other franchise owners will help you determine the best opportunity available.
Understanding your finances is a crucial step in starting a fitness business – particularly if this is your first time as a franchise or business owner. Find out as much information before you sign any contracts to ensure that you have a complete grasp of the ongoing costs associated with your venture, as well as what support is offered for your investment.
Thorough research is the tried and tested way to an informed decision.
Anyone can own a fitness franchise, you don’t have to be incredibly knowledgeable about the industry overall – however, it will help in the long term if you invest in a particular interest – whether you love athletics, yoga, or dancing, having some insider knowledge will certainly be an asset as you grow your franchise.
Choosing The Right Fitness Franchise for You
For some, it’s a simple choice to open a new franchise with a brand they’ve been loyal to for years. This passion translates into their day-to-day business, but it’s not a possible scenario for everyone. While brand loyalty means they have more familiarity with the brand’s approach to business, your favorite fitness center may not have franchising opportunities.
For example, some wonder is Fitness Connection a franchise? While it’s a large company with many locations throughout the country, it does not offer franchising opportunities. There are, however, opportunities available with other big names such as Anytime Fitness, Planet Fitness, and Snap Fitness.
With so many options available, it can be difficult to settle on a final decision without the help of a professional. Matching your interests and goals with the right franchise opportunity helps protect your capital and significantly improves your chances of landing a beneficial and worthwhile deal that can bolster your income for years to come. Speak with Guerrilla Franchising if you would like professional input from an experienced consultant as you navigate the variety of choices available.
The Benefits of Owning a Fitness Franchise
The fitness industry is growing more valuable by the day, making it a worthwhile venture and a productive way to invest in your future. However, the experiences of those who have opened a solo venture versus those who have relied on the proven business models of successful franchises are quite different.
- A step-by-step business model for guidance
- Access to the right training and ongoing support for seamless operations
- Assistance in finding the right location as well as access to company vendors (possibly some discounts too) on state-of-the-art equipment
- Finance support (whether that’s sourcing initial investment capital or staying in control of long-term income and expenses)
Get Ready for Your Fitness Franchise Journey
To begin, research and reflection are the best ways to find out if owning a fitness franchise is right for you. If you would like to make the right decision first time, give Guerrilla Franchising a call or send a message to discover how a specialized consultant can help take the uncertainty from the process while getting you to your franchise ownership goals faster and smarter.
