Micheal Gerber, in his book E-Myth he talks about how a franchise business has a higher success rate as compared to starting a small business on your own. The success rate of being in business for three, five or more years rises tremendously if you get on board with a franchise.
The reason for this is pretty simple. The franchiser has already proven the concept, built the entire system, created an operational process and has seen the highs and lows before selling their ‘business model’ to others. And in this case, we are talking about Fitness franchise.
On the other hand, with the rise of health-conscious individuals, investing in a fitness franchise has become very lucrative. Minimal overhead costs, resistance to seasonal changes and multi-unit ownership facilities are few reasons to invest in this business.
A fitness enthusiast with the right entrepreneurial skills can easily capitalize on this rising demand for fitness clubs. But before you jump right in and sign the agreement, make sure you know the following:
Expenses – consider and compare all that is included in the number that the franchisor gives. Ideally, it should include the setup cost, monthly royalty fees, overheads, insurance, etc. Justyoufitness for example clearly outlines every expense in plain and simple language, and keeping the entire agreement transparent thus springing no surprises during or after the franchise is given. Their monthly royalty fee includes brand name, support, marketing, sales and operational guidance, and still, the fee is low as compared to other brands within the same industry.
Support – what kind of support you will get after the franchise is given? A brand should offer their franchise assistance in setting up the studio, continuous support in terms of training, managing the business and operating systems. Justyoufitness goes further and provides a marketing team for lead generation, a technological team for creating, hosting and managing your website and a business coach to help you through all the legalities necessary to start your business.
Taking up a fitness franchise is potentially very rewarding. If you finally decide that it’s right for you, then find a brand who is willing to mentor you.
Talk to justyoufitness team; you never know – it might be the exact business you had always wanted to own!