Something is rewarding about being able to sweat out your frustrations and stress at the gym. What could feel even more rewarding than being able to provide that service and transform people’s lives for the better? If you want to start a business in the fitness industry, a good opportunity is getting a fitness franchise.
Most people think starting a company is the best and only way to make money; however, franchising is the ideal alternative. Dive in and learn more about the fundamentals of a successful gym franchise.
How to Start a Fitness Franchise
The beginning is usually the hardest part after deciding to start a franchise. Though franchising is relatively easier than starting a business like Apk Ticket, it would be easier if you knew where to begin. Read on to learn some tips for a smooth start.
Evaluate your Interest
Starting a business can be overwhelming, so think about whether this is really what you want to do. Do you find yourself being a fitness provider? Although it’s not usually the case for everyone, if you are strongly interested in your investment, the more likely it is for you to succeed as an entrepreneur.
Weigh the Pros and Cons
Properly weigh the pros and cons depending on your situation. Additionally, try to get insights from colleagues who are also business owners.
Do your Research
Try to understand your target audience and the industry itself. This entails researching the trends and current direction of the fitness world. In addition to that, keep being informed about your competitors. Research their business strategy and what they are offering your target clients.
Consider the Options
You can only choose the right brand from a pool of options if you’ve done your research. Carefully decide which brand you will invest much of your time and money on.
When reviewing your options, take a look at the requirements as well. One of the most sought franchises in the fitness industry is Special Strong, with very minimum requirements. You will only be required to pay a low investment cost compared to an average gym franchise in the market. It may be one of the best low-cost franchises even with the increasing demand for their expertise.
As an adaptive fitness franchise, they do training for children, adolescents, and adults with mental and physical disabilities. Surely, there’s nothing more rewarding than investing in a type of business that improves the lives of the special population. At the end of the day, being a Special Strong gym franchise owner, you will get back what you invested and much more.
Did you know that you also have several options in the type of franchise to get? With proper planning, you’ll be able to choose the right one. Here’s a quick overview of your choices.
It’s the ideal type of franchise for first-time business owners. All you need to do is pay the franchise fee, which is relatively low and affordable. Not only that, this franchise model is usually home-based for your convenience.
With this franchise, you will be an authorized distributor of a well-known product. Special Strong, for instance.
Business Format Franchise
As the most popular franchising model, you will be allowed to operate under the company’s brand. Basically, you’ll be able to use their name and apply the same system the company uses in products and services.
This type is for you if you want to get involved on a larger scale. Generally, it would require huge capital investment because you get to enjoy more time and freedom.
Here, as the franchisor, you will rapidly grow the brand by recruiting established businesses in the fitness industry.
Contact your Choice of Gym Franchise
After deciding which franchise to get, you must’ve cleared out the uncertainties and answered all the questions you have in your head. Either way, you must still ask for more information from the franchisor and get in-depth business knowledge.
Find a Location
If you are doing a virtual fitness session, you still must find a place where you will shoot your workout videos and conduct your online sessions. It’s usually a cool and clean place with no distractions.
For a physical gym franchise, you must choose an easily accessible location. Gym-goers prefer those that are closer to their homes or work. But choosing a location sometimes depends on the franchisor. Usually, they usually inspect the area and may agree with you or choose the location themselves.
You must secure proper permits and operating licenses before setting up your gym and equipment. Aside from that, certain inspections and fees will be necessary, as with any business.
Hire a Support Staff
At the end of 2021, franchises provided jobs to 8.3 million US workers. In the fitness industry alone, an estimated 799,000 workers were employed. By this time, you should already know that it’s impossible to run the franchise all by yourself. Indeed, roles must be filled, and since the fitness industry is growing, so is the interest to apply by many workers.
How to Build a Successful Gym Franchise
Now that you’ve acquired a franchise, as an entrepreneur, one of your visions for your business is to keep it stable and expand. Indeed, expanding a business is time-consuming and costly. Most business owners switch to franchising to achieve their business goals.
So, how does one build a successful gym franchise?
Be Hands On
You would want to stay on top of everything regarding your business, so it’s better if you have developed a passion for fitness. As the owner, you must be updated with everything necessary.
Micromanaging won’t be necessary as long as you can teach your vision and concept to the staff. Once you’ve made your vision clear to them, they will believe in it too. Soon after, you’ll be able to trust them with most of the operations, leaving you more time to do other important tasks as the owner.
Do Not Overhire
It is important to be hands-on, but your staff is there to support and do some of the work. After hiring the most reliable team, your job is to ensure they maximize their roles. In fact, according to entrepreneurs, try to avoid overhiring to keep the costs low.
Constantly Provide Training
As a franchisor, how will you avoid overhiring? Regularly train your staff. Of course, if you are building your franchise, your team has to grow with you.
Ask for the Company’s Guidance
As the experts in the field, they are likely to have programs or strategies to ensure their franchisors, like you, are keeping with the brand’s standards. Undoubtedly, following their advice is a sure way to success.
Connect With your Customers
Your dedicated customers are the primary income source of your business, and their value is as high as the franchise itself. But while that is true, you must not only see them as profit. Engage with them and truly get to know them. Here are some insights on how you’ll keep your members.
Go the Extra Mile
Don’t only treat your members the way you want to be treated if you were in their position. You can never go wrong with going the extra mile for them. In short, knowing what they need isn’t enough; you must also know what they truly want.
Create a Friendly Team
By now, you must already have a staff who instills a positive and friendly culture. From getting inquiries until the end of their subscription, ensure you have people who can provide good lasting impressions.
Encourage customer engagement by regularly sending emails and updates. Tell them you think about them even when they’re not at your branch. Another thing is that these can help reengage members who might be planning to unsubscribe from you.
Keep your Communication Lines Open
Customers value their voice as consumers. Engaging with them means they should be able to communicate their views and opinions on how your business can improve. So, make it easy for them to express themselves. Don’t let them think that hearing from them isn’t your priority.
Business speaking, retaining members through engagement is more cost-effective than having to recruit new members. Generally, recruiting members will cost you a good amount on marketing and sales. That said, excellent customer service is still the core of operations, especially gym franchises.
Doing research doesn’t stop when you are starting a business. In fact, one of your responsibilities as a franchise owner is to explore and discover new opportunities for your franchise to grow. While listening to what the franchisor tells you is good, you can pitch new ideas and opportunities that will benefit the franchise.
How much does it cost to get a fitness franchise?
It can go from $30,000 to $300,000, depending on the brand you are getting. Generally, some brands are less expensive, but it doesn’t mean they will get you less profit.
6 Reasons to Build a Fitness Franchise
If you are still thinking twice about whether to go through it or not, maybe you just need a bit more push. These points will remind you that investing in a gym franchise is the right decision.
1. Increasing Demand
More people are becoming into fitness recently due to the increasing advocacy for self-care. During the past year, people have realized that physical wellness directly correlates to mental health. Gym franchises are expected to thrive in 2022.
2. You Don’t Have to Start From Scratch
There’s no need to worry about sweating over marketing, getting the customers, or climbing the business ladder; it’s all already been done for you. In franchising, there is no need to start from zero. You get to skip to the good part about owning a business.
3. Lesser Risks
One of the best parts of franchising is that there are hardly any risks involved. If it’s your first time entering the business industry, this option is safest for you as you are already guaranteed a profit.
4. Ongoing Support
Compared to a start-up business, a franchised one requires less study of the business. There is already dedicated ongoing training and support from the franchisor that you can simply adapt.
Generally speaking, franchised businesses get higher profits than those non-franchised ones. As mentioned earlier, a business model is already applied; all you have to do is adhere to it. Knowing that you chose a good franchise means you do not have to worry about getting customers. Therefore, making a high profit wouldn’t be a problem either.
6. Brand Recognition
Many gym franchises earned recognition for success in the industry even in a short period. Even someone who’s not into fitness would notice a franchise just starting and eventually hear good reviews about a franchise.
Clearly, putting up a gym franchise is easier, but it isn’t for everyone. But with the right resources and effort, you will be guaranteed success. Additionally, having a fitness franchise can be rewarding as an entrepreneur if it matches your business goals.
If you would like to learn more about owning a rewarding Special Strong franchise, we encourage you to reach out to us today for more information.