Some Pros to Owning a Fitness Franchise

Many entrepreneurs feel that they may need to own a franchise when compared to a stand alone business in order to reap the best profits from their investment. They feel that a franchise gives them a higher likelihood to succeed in their business ventures. It is reasonable for them to feel that they are getting a necessary boost by buying into a business plan that already seems to be achieving the results they want. If you are looking into starting your own business you should weigh the pros and cons of owning a franchise compared to owning a stand alone business before making up your mind.

Association with a respected company

The main benefit of owning a franchise is your association with the mother company. The brand name of this company will be well-known and respected. You are likely to draw a bigger customer base because many people will know and respect your brand name. They will be more aware of what to expect when it comes to your gym compared to other stand alone gyms. This can make them more comfortable in choosing your gym over other gyms in the area. With so many different types of fitness centers popping up, brand recognition can be a huge benefit in helping you to succeed. You are basically getting free advertising from the mother company. Many people will know that you will stay with that location and not disappear or relocate, like many stand alone gyms have had to do in these troubling economic times. They will know that you are here to stay, and you will gain a majority of your customer base from the reputation of the mother company.

Ready made business plan

The franchisor wants to expand and see every one of their franchises succeed. They have taken their business model and adapted to help each and every one of their franchises remain profitable. They have experimented with different techniques and have come up with a proven method for success. Most franchisors will provide the franchisee with business plans, procedures, policies and rules ready made for the franchisee. In some cases, the franchisor will even be responsible for finding the location of your gym, providing the equipment you may need and even setting up your gym. They may also provide you with manuals and tutorials to aide you in operating your gym. You may need to go to training seminars, where everything will be provided to you. All you need to do is pass on these materials and information to your staff. The assistance in providing a business plan and instructions on how to run your gym can lift a huge weight off of your shoulders and allow you to invest your time into other areas that may interest you.

The number of fitness franchises are growing and growing in today's world. This means there are plenty of opportunities for anyone looking to own their very own fitness center. It can be difficult in deciding which one is the best fit for you. The hard part is wading through all the readily available information out there; however, this is the most important step in starting your own fitness business. You need to do your homework and look into every aspect of any franchise you are considering. You not only need to know every little detail about each franchise but also the laws in your state. Every state is different just as every franchise is different. You should look into and consider every option available before you make your final decision.

The Benefits of Owning a Franchise

Did you know that franchised businesses create more than 18 million jobs for Americans, and they account for about 10% of the private-sector economic output in the United States? According to a 2004 study released by the International Franchise Association Educational Foundation, the franchise industry is on the rise at an impressive rate. The most common franchises seem to be fast food restaurants, but lately other industries have been getting in on the action. Fitness franchises are rising in popularity. There is a new crop of highly successful fitness franchises that have entrepreneurs lining up to experience their dream of owning a business.

The benefits of franchising

There are many ways you can benefit from owning a franchise. Here we describe a few of them.

• You get a proven business model. You know their business plan will be successful based on how many other franchises they have that seem to be operating smoothly. Many franchisers offer to help with the set up, costs and other operational details. This can take a lot of stress off your shoulders and allow you to focus on other things.

• You get all the support and guidance you need from the mother company. The mother company wants you to be successful, and they are there to give you all the help and support you may need. There is usually someone with you from the start of your business and support is always available to you day to day. The mother company is there to help you, so you should never be afraid to ask any questions or voice your concerns.

• You can get advice from other franchise owners. Many mother companies will introduce you to a mentor, who is usually a franchise owner that has been with the company for a few years. You can ask this mentor anything you like. They have been down this same road, so why would you not ask them for guidance? They have the prior experience and know how to really help your business get off the ground, so you should not look over this valuable asset.

• You get free advertising just by being a part of a brand name. Many customers may come to your gym just because they know the brand name and what to expect from that brand name. If you open your own stand alone gym, many people may be leery because they do not know what they are getting into, such as the type of programs you offer and if they will get the results they want. However, a brand name will displace those fears and concerns and help put your customers at ease.

If you are dreaming of owning your own business a franchise may be right for you, especially during this economic downturn. Many entrepreneurs are taking advantage of the fact that there seems to be a lower risk involved in owning a franchise. However, it is important for any future entrepreneur to know all the facts. You need to do your research before you jump into any business venture. Different franchises require different things, and some help with certain things and not others. There are fees to discuss and state laws to know. There is an extremely detailed process involved in owning any type of business, and it can be to your benefit to know what you are getting into prior to signing any contract.

The Growth In Fitness Franchises

The booming fitness industry seems to be recession-proof. We continue to see a rise in the number of fitness centers and a rise in the number of people joining these centers. The more concerned Americans become with improving their health and their bodies, the more the fitness industry will benefit. Now is the perfect time to start a business in the fitness industry because of the baby boomers. This group represents a high percentage of the US population and wants to find the best way to age gracefully. They are actively searching for ways to fight the clock to stay healthy and physically fit.

Some interesting statistics

• According to their 2010-2011 forecasts, the Bureau of Labor Statistics predicts that from 2008-18 employment of fitness workers is expected to increase by 29%. This is much faster than many other occupations.
• The United States Department of Commerce reports that there is around 31,000 fitness centers and health clubs in the US, and franchises represent about 65% or 20,000 of them.
• From 2009 to 2010 the number of new franchisees in fitness companies that were franchising less than five years grew over 120% .

These statistics can help us see the growth in the fitness industry and mainly, the rise of the fitness franchise. The increased popularity of these businesses is expected to keep growing over the next few years, making it a wise business choice.

Know your target market

Perhaps one of the biggest factors in the present and future growth of the fitness industry is that adults aged 55 and older currently make up approximately 25% of health and fitness club members in the US. From 1998 to 2005, the number of fitness club members aged 55 and older increased by 33%, while those in the 35 to 54 year-old age range showed a 13% gain and the 18- to 34-year-old group showed no change. The fact that our population continues to age, we can expect more and more people to join fitness clubs. In order to benefit from this rise in members, we need to know where to focus our attention and tailor our fitness centers to meet their needs.

The fitness industry appeals to a large and growing market. It appears to be the perfect time and the right market to open your own fitness franchise. The key to a opening a successful fitness franchise is to do your research. With so many different types and companies out there, you should select the one that is the best match for you. You need to feel comfortable with their rules and regulations. As all franchises have different rules and regulations, this may take awhile. However, it is in your best interest to look into as many as possible. You want to know that you are well aware of how the franchisor expects their franchises to run. You should be comfortable in running your business this way, and you should feel that it will be successful according to the franchisor's guidelines.