BEST LOW COST FITNESS FRANCHISES
Finding the best best fitness franchise to invest in and the lowest cost are often times two opposite things. Unless, of course, you can get in early on an up and coming franchise. However, these are often hard to spot so here are 4 ways you can identify the best low cost fitness franchise opportunities.
When investing in a franchise, you are in large part investing in a brand. In the case of health clubs, you want to be part of a brand that is clearly different than the competition. This means you should make sure that the health club franchise you are thinking of investing in, is not like every other gym shop in the neighborhood. Check out their website and do some research. Does it grab your attention? Ask yourself, is this company different than the others?
When you buy a franchise, you are doing so because you are looking to be in business for yourself without being in business by yourself. So needless to say, support is extremely important. There are inexpensive fitness franchises that provide little to no support. The right franchise opportunity will hold your hand day in and day out. This means assisting in the financing, equipment lease, buildout, location selection, and everything involved in the startup phase. However, it also means strong marketing efforts that generate your club with leads. Ask how many monthly leads they are generating to bring new members and what marketing efforts are being performed.
Competitive Franchise Fees
Some fitness franchises have fees in excess of $50K. Others are more competitive because they know that there profit will come from the success of clubs and revenue/profit that will be generated. This is the kind of health club you want to invest in. One that will work hard for you to be profitable.
Health club franchises have come and gone. You need to make sure you do not invest in a fly-by-night operation that is here one year and gone the next. This all comes down to experience. Health clubs that have been in the game for a while, know about longevity. Owning a successful health club is not about a race, it is about a marathon. You want to be part of a fitness franchise that has more than 20 years experience in the industry. It is vital to meet the leadership of the fitness franchise company you are thinking about investing in and don’t be afraid to ask how long they have been in this industry. If you are dealing with a set of entrepreneurs and investors that have experience in other industries and jumping on the health club industry bandwagon, you may want to rethink whether that franchise is the one for you.