For many, buying a franchise offers the opportunity to own a business that has a proven operation model. Most of the kinks and have been worked out and for the price of the franchise, operators can step into a business that offers a high likelihood of success.
But not all franchises are created equal. Some have decades of proven experience, while others are relatively new with a smaller record of success. But for those looking to buy into a fitness franchise, that particular industry offers certain advantages over other franchise opportunities.
Fitness is Strong
When looking at the industry as a whole, fitness is a strong performer. According to Franchise.com, this sector is in the midst of an expansion. Health club memberships have grown by over 26 percent since 2009 and now nearly one out of every five Americans belongs to a club.
This increase has been fueled by an ever-increasing emphasis on personal health by employers trying to minimize health costs, federal campaigns to fight obesity and an adult population eager to slow the aging process and extend their lives.
Another factor that might be influencing this boom is a stronger economy. It is bringing more jobs and an increase in wages. Individuals and families are now more comfortable with investing in gym memberships.
The Advantages of a Franchise
There are pros and cons to owning any type of business. But franchise ownership does come with certain advantages. BusinessFranchiseReview.com reports the most important advantage is that franchises have a higher likelihood of success. While owners have the independence and freedom of a small business, they get the support and experience they need from a large corporation.
Franchise owners also don’t need business or industry experience. They typically receive training from the franchisor. Many of these corporations have launch programs and even offer loans to help their franchisee startups have success. All of this helps owners hit the ground running.
Owning a franchise also offers instant brand awareness with prospective customers and potential employees. That means both customer acquisition and hiring is easier. That makes for a shorter path to profitability.
Over the years, franchisors have developed relationships with vendors, too. Being a part of that franchise network will allow you take advantage of those relationships and save on supplier costs.
Conclusion
Any small business has its risks. But starting a new brand from scratch has even more. Franchise ownership allows entrepreneurs to focus on what they want to do most: Build a business and make money. All the other back office details and processes have already been perfected by the franchisor. The owner simply needs to follow the plan and put in the effort.
Is your interest peaked? Schedule a no obligation consultation to have all your questions answered!
Bill McKee, Franchise Consultant
☎️: (972) 767-8433
📧: Bill@TheFranchiseConsultingCompany.com
