FRANCHISE FOR SALE
Buying a franchise has become a very popular road to entrepreneurship. You may have heard some of the benefits, mainly the ability to be in business for yourself without actually being in business by yourself. However, there are several more and understanding these are key to finding the right franchise opportunity for you. As a niche based gym franchise company, Zoo Health Club has more than 40 years experience in the franchise industry and is happy to share its experience with you.
WHAT ARE MY INTERESTS?
They say that if you love what you do, you’ll never work a day of your life. One of the first things, you should ask yourself, is what do I love to do? This will help you find the right industry. If you love culinary arts, a restaurant franchise would make sense. From experience, we can tell you that the most successful franchisees that we have had, have been those that have a true passion and interest in health and fitness. Besides the fact that you perform better if you enjoy what you are doing, your overall happiness will positively impacted as well.
HOW MUCH MONEY DO I HAVE TO INVEST?
Franchise fees can be as little as $10K and as high as several hundred thousand. That generally does not include the actual physical cost to build out the business, store, or location. In addition there are usually monthly royalties that come out of your sales. From an initial standpoint, you need to make sure you have not only enough for the franchise fee but also enough to build out the business. The franchise company will be able to give you a good idea of exactly how much it would cost to build the business. Now I know you may be thinking, I could probably build out the business cheaper. Don’t make that mistake. The cost of starting a business is escalated when you have never done it before. Trial and error can be expensive and you may end up paying a lot more than you expected. With a franchise the costs are established and known.
WHAT DOES THE FUTURE LOOK LIKE?
Many franchise calls themselves, “the next big thing”. Industries can be cyclical and you need to look at the long term picture. You want a business that you can have for years and pass on to your kids. You would be surprised how many new fast food franchise concepts go out of business. One thing that we know about the health and fitness industry is that it continue to grow. Health and fitness is not a trend, it is a way of life. Noone can deny that being fit is important. For this reason, we are happy to be in this industry and our franchisees have had their gyms for years and can anticipate to have it for many more years to come.
WHAT IS THE REVENUE POTENTIAL?
This is perhaps one of the most important factors you should consider. You need to have an idea of how much revenue you can expect so you can compare it to expenses and gauge profit. Like any business, this could vary from business to business within an industry. For example, a McDonalds is going to have much more revenue than a Subway, based on the nature of the business and name recognition. That is even the case within a franchise brand? A McDonalds in a busy area will have more business than one in a suburban area, generally speaking of course. You should also look into the seasonality of a business and the different revenue streams. One thing that our franchisees love about the gym fitness industry, is that there are multiple revenue streams. We help our franchisees maximize all revenue potential beyond just the standard, which are membership fees. Our successful clubs also take advantage of personal training fees, workout classes, kids club, amenities, and many more.
For more information on the exact cost of a Zoo Gym franchise and other details, we ask that you fill out the form below and request a Free Franchise Toolkit for Success. This will tell you everything you need to know so you can make an educated decision on whether this opportunity is right for you.