Fitness Franchises Opportunities
In this blog we explore the many different fitness franchise opportunities so you can make an educated decision as to the best investment opportunity for you.
The Big Names, things to consider
You may be familiar with the big names, 24 Hour Fitness, Anytime Fitness, Snap Fitness, and Planet Fitness. As these clubs have grown across the country we are seeing limited territories available. What this basically means is that they have diluted their brand which has made it difficult for them to grow without directly competing with other their current franchises. This has caused limited opportunities and those that are available are usually more expensive as the demand may be higher.
Profitability by brand
Unlike other franchise opportunities such as those in the restaurant industry, name recognition does not have as large an impact to sales/revenue as you would imagine. Less known fitness franchises with a localized marketing strategy and multiple revenue strategies can be more successful in competing with surrounding larger clubs that generally have larger overhead and franchise fees. The important thing is to work with a franchise that provides you the right marketing and revenue strategy to help you optimize profits while keeping your operating costs low.
Many fitness franchise owners will tell you, once you are able to be successful with one club, you can double your profits by opening up another. With some of the larger fitness franchises, this is not an option due to limited territories and competing franchises owners. You want to make sure that the fitness franchise you purchase is poised for growth. The ideal franchise opportunity is one where there are enough territories available so you can grow in your local market, where you can run your clubs without having to travel long distances.
Get to know the people behind the brand
Behind every fitness franchise there are the people that run the business and are responsible in large part for the support and success for each individual club. How accessible are they to you and what is their experience? Are you dealing with clever marketers with limited fitness experience and more interested in the quantity of clubs they sell than the profitability and success of each individual club? Make sure you are able to meet management at the highest level and inquire about their experience.
Training and Support
The whole reason why you would want to invest in a fitness franchise instead of opening a club yourself is the experience, training, and support that you receive. You have probably heard that cliche statement that franchising is like being in business for yourself without being in business by yourself. That is only true to the extent that the franchise you purchase provides you the right formula that will make you successful. Inquire about what the training entails and if you will have the opportunity to tour a club or clubs and meet franchise owners before making a decision.
At Zoo Health Club we are not the biggest but our management has over 100 years of fitness experience under their belt. We do not have hundreds of clubs throughout the country but our franchise owners are successful and know how to be very competitive in their local market and maintain high profitability with less overhead than some of the larger competing clubs. For more information see our video below and learn if this opportunity is right for you. You can also take advantage of our free toolkit for success which will tell you everything you need to know about investing in a gym franchise.