Investors all over the world are asking themselves, what is the best franchise concept? As you may have seen fitness franchises are popping up left and right representing growth in the health and fitness industry and opportunity for potential investors. What is the reason for this recent craze and what factors should you take into consideration before taking a plunge?
Growing Industry
Industries usually have cycles. Some may see growth and decline, while other stay stagnant. The health and fitness industry is one of the few that has continued growth and it does not seem to be declining. Trends come and go but everyone can agree that staying fit and healthy is a way of life and that will not change. This industry has seen has seen double digit growth in the past 10 years and as more and more people move to eating healthier, organic foods, you can expect more people will be wanting to get in shape. Opening a gym franchise helps you capitalize on this growing trend toward fitness.
Work Environment
When considering a franchise opportunity, work environment is another factor. If you are going to invest in a business and you want to be part of its success, your day-to-day experience in the business is important. Many people have avoided the fast food franchise concept because of the stressful work atmosphere. For many it is not the most appealing thing to be behind a hot kitchen all day, dealing with hundreds of customers in very fast-paced environment. A health club franchise is a different environment altogether. Overall it is a less stressful and more enjoyable atmosphere.
Time Commitment
A gymfranchisehas many moving pieces but once those pieces are in place, the club basically runs itself. Of course, a good manager is necessary, but unlike other businesses, you do not have to be there the whole day. In fact, many health club owners have other businesses or run multiple clubs. This is perhaps one of the most appealing aspects about owning a fitness franchise.
Multiple Revenue Streams
Perhaps the most attractive aspect about owning a health club is the multiple revenue streams. Whereas most businesses have one main source of revenue, a health club has several. Think of membership fees, personal trainer fees, kids club, juice bar, supplements, apparel, special classes, additional amenities such as tanning, etc. If you are going to invest in a business a health club franchise is something you should definitely think about.
Everything you need to know about this franchise opportunity. And some business tips about this booming industry.