Many people associate the word business with start-up brands, products, and services. While it may be the most known way of opening a venture, it certainly isn’t the only one. If you are open to other ways to make easy money but at the same time wouldn’t be too risky, then franchising is the one for you.
You probably didn’t think of it when brainstorming ideas on which type of franchise to get. You’d be surprised to know that a gym franchise is also a good option among fast food chains, retail stores, and hardware. It’s not the most common, but it’s definitely rewarding. Here’s a list of reasons to be a franchisee made for you.
What are the reasons to get a gym franchise?
If you were looking for more reasons to be a fitness franchisee, you might be disappointed to know that you only need six. The reasons below are enough to get you to purchase a gym franchise right now.
When you buy a franchise, you are buying an entire system. The franchisor must already have an established system before they allow you to carry their fitness brand and provide their service. As a franchisee, your main job is to follow that system to ensure that you use their name within their standards.
With a system already in place, you will save yourself from all the trial and error a start-up business owner would usually experience. What are the things that you wouldn’t have to worry about if you bought a gym franchise?
Finding a Location
It’s one of the most important decisions one must make in the business industry. Of course, it’s never just a space or an area – you are looking at every angle of how your fitness franchise will operate in that location.
Your gym franchise must be strategically located where gym-goers would be encouraged to visit. Most of them will take a lot to go to your gym studio. Getting fit requires a lot of discipline. With the location already selected for you by the franchisor, you wouldn’t have to worry about the specifics of the location. Not even negotiating leases and getting contractors.
How convenient is it that you may also get staff who are already trained with the essentials along with the franchise? Super convenient. Can you imagine going through the nitty-gritty of process training and the stress of evaluating them at the end every time? You won’t have to, because most of the staff are experienced and probably have licenses already.
Not only do good franchises provide experienced staff, but they also have training programs that will keep you in the loop. These will ensure you are updated with changes in business goals and strategies.
Along with these trainings come reference materials you can consult to help run the gym business.
Established Brand Awareness
Most recognizable fitness brands have a great reputation. You are sure to still get loyal members’ support even with the number of competitors. Establishing brand awareness to the public will be the least of your problems if you are considering buying a franchise now. As long as you know that you did business with the right fitness brand, you are guaranteed that customers will come in.
One of the best things about getting a gym franchise is that it already comes with a reputation, as what’s been mentioned earlier. And what brings customers more than a good reputation? Loyal customers. Those with gym memberships are the foundation of your business.
With your customer base already established, all you have to do now as a franchisee is to expand that; then, you are already guaranteed success in the long run.
Putting up and running a business is never easy, especially if done alone. You can’t expect your fitness franchise to thrive if it’s solely dependent on your ideas and efforts. The fitness industry may sound isolating, but it’s a growing industry with many people who are as passionate as you. You just have to find the means to connect with them.
Luckily, most franchises are part of networking events where business owners come together to discuss how they can collaborate with others.
You may get collaborators, mentors, and investors and connect with people you can share insights, have delightful conversations, and exchange ideas through these opportunities.
Most business owners’ motivation to get into the business world is the guaranteed freedom to manage their own time. You wouldn’t have to worry about being too hands-on with work in the fitness industry. Additionally, your trusted team will be equipped to be admins, managers, trainers, and coaches.
You will have more time to do essential work as the owner compared to other franchises. Other franchises require you to spend time on the frontlines but not when you own a gym franchise. Aside from that, you can also take more vacations, get a hobby, or even explore other fitness ventures.
Low Investment Requirements
Investing in a secured business such as a franchise does take a significant amount of money. But if you think about it, starting a business from scratch is even more so. Gym franchises are affordable and only require a low amount to acquire your own branch. Though they may be low-cost, it doesn’t mean they are less likely to get you an income.
Special Strong is one of the low-cost gym franchises that offer highly recommended levels of expertise in the wellness field. They offer science-based fitness programs for children, adolescents, and adults with autism, cerebral palsy and down syndrome, ASD, and other chronic conditions. A franchise with them would be as rewarding as it is affordable.
Compared to other fitness franchises, you will only be required to meet lesser requirements. Their prospective franchisees only need $150,000+ net worth and around $25,000 liquid capital. Financing is done through unorthodox lending organizations, regional lenders, and friends or family as investors.
Their home-based model franchise can be acquired for as low as $51,000-$60,700. This is relatively lower, for there’s no need to buy gym equipment or secure a location.
This model is worth your money for several reasons:
- Train customers in affiliate gym establishments or at home
- Minimum costs and overhead expenses
- Own numerous domains
- Regular subscription income model
- No real estate investments needed
- Little competition
Statistically, franchising is proven to be a safer business option amongst other ways to become your own boss. The British Franchise Association reported a 93% increase in profitability in 2018, with less than 1% of franchisors closing their branch due to commercial failure.
You can look at it this way; your franchisor would never let you fail. They are invested in your success as much as you do because that is their success, too. So if you want to be secure in your next business move, franchising is the best option for you.
You will surely get their support in all matters regarding the business even though you’re just one of their many distributors. As a part of their growing system, there’s a staff dedicated to assisting their franchisees. There’s always a more experienced person you can call when you get in a difficult situation or even just to pitch ideas for the business.
One of the things huge franchisors do to make sure your branch is location visits. A representative from the company will check if consulting and coaching are needed at your franchise. These visits allow them to evaluate what specific support you will need.
All the necessary reinforcement will be provided to keep the business running and steering towards success. So, what are the types of assistance a gym franchise could get?
A great thing about getting a fitness franchise is that the franchisor may get you the right contractors to build your studio. The company should also shoulder the proper equipment and studio layout to benefit your members with health concerns.
There will usually be staff provided to you by the franchise company to develop marketing strategies and plans to attract and retain gym members. During your grand opening, they may also take care of the budgets to make your franchise more appealing to those still hesitating to sign up.
Higher Likelihood of Success
According to the US Bureau of Labor Statistics, buying a franchise may not be guaranteed financial prosperity. Still, it suggests one way to increase your chances of business success. Because of proven business practices, franchises have higher success rates than independently owned businesses.
If you are still not convinced about getting your own fitness franchise after reading all these reasons, what might get you onboard would be your passion for helping people.
Owning a gym franchise becomes larger than the business itself in the long run. It can be a form of societal service that gives you that feeling of fulfillment at the end of the day.
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.