How to Tackle the Startup Costs of a New Fitness Franchise
So you’ve made the decision to invest in a fitness franchise. Congratulations on taking this step to take control of your career! At Zoo Health Club, we are always excited to work with new franchisees and their fresh enthusiasm. One thing that comes up often when franchisees are getting ready to get started is the investment. A significant amount of time and money goes into opening a franchise, so here are some tips for tacking the startup costs.
Understanding the Investment
The first step in tackling the startup costs of your franchise is understanding what the investment gets you. Sure, the investment gets you a new franchise, but there is so much more to it than that.
First and foremost, working with a franchise means that you are working with people with experience. The teams at Zoo Health Club have years of experience in both the fitness and franchise industry. Not only are they experts on the Zoo Health Club brand, but they come with valuable experience in helping franchisees succeed. Our team has been there many times before, assisting previous franchise owners with the same things that you will deal with as you get started.
Most of our fitness franchise owners come to us without experience owning a business or working in the fitness industry, but they still thrive as franchise owners. How? Because of our state of the art training program that prepares each franchisee for the unique tasks and challenges of owning a Zoo Gym franchise.
Our training program, Zoo University, covers all your bases. The following are some of the things new franchisees learn at this training:
- Club design and buildout
- How to have a successful pre-sale and grand opening
- Proper marketing and advertising
- How to prospect for new members
- Selling club memberships, personal one on one training, and group functional training memberships
- Operating your Zoo franchise on a day-to-day basis
After training is complete and your health club is open for business, we don’t leave you to figure the rest out on your own. A key part of our franchise system is supporting our franchisees starting from day one and throughout the life of your business. The support comes in many forms, including marketing assistance, ongoing education, and so much more. Just like with staying fit, you can never stop improving as a business owner, and our support network helps you do that.
Financing and Funding
Now that you know what your investment gets you, you can see the value of investing in our brand so you can start thinking about financing. There are a variety of financing options to help you get started as a franchise owner, including:
- Savings: A financial nest egg, savings account, or other account can be a debt-free way to achieve your dream of owning a business.
- Friends and Family: This is the most common source of franchise funding. If your friends and family are your biggest supporters and cheerleaders, they may be a great source of funding.
- SBA Loan/Traditional Loan: Borrowing money from a bank or credit union is a smart option for many franchise owners. Going through the Small Business Administration (SBA) may result in better terms, making the process even more smooth.
Becoming a franchise owner requires more than money; you will also invest time and effort in order to build a thriving fitness franchise. Zoo Health Club is here to help you throughout the whole process, including seeking funding. Get in touch with us to talk more about your investment!