Interested in a Fitness Franchise?
by Greg Nunan
If you want to become your own boss within the fitness industry, you have two options: start your own business or buy into a franchise business. Starting your own personal training business gives you complete control over every aspect of the business, but there are distinct advantages to buying into a franchise as well.
Here are 7 of the best reasons to buy into a gym franchise group:
1. Brand strength
When you start your own business you’re starting from scratch. Your professional reputation for past work might improve your ability to get work or sell products, but there is no comparison to the built in brand strength you get when you buy into a popular franchise business. So long as you select the right fitness franchise you can cash in big time on the reputation they’ve already built.
2. Franchise systems
A good franchise already has built in business systems that make it easy for you to keep everything organized and operate properly. Again, if you start your own business you will end up building these systems yourself, often through a time consuming process of trial and error.
3. Franchise culture
Not only will a good franchise have systems set up that make it easy for you to operate your business, they also have a support network you can communicate with. You can get solid advice from people who have been running the same franchise business you have for a longer period of time. This is invaluable, especially if you’ve never run a business before.
4. Financing is easier
Since a franchise already has an established reputation that will bring people in the door even if you do no marketing whatsoever, lenders are often more open to finance these businesses over others. If you’re going to be financing your business, you’ll probably get much better loan terms on a franchise purchase. Some franchise groups go as far as assisting with this. EFM Health Clubs franchises for example assist Franchisees to fund their equipment purchase over a four-year lease period. Many other gym franchises in Australia do the same. This cuts down upfront costs dramatically.
Many franchises actually offer 1-4 weeks of training in their corporate offices when you initially purchase your franchise. This training walks you through every aspect of running the business. How in depth the training goes is largely dependent on the specific franchise.
6. Exclusive business area
Franchisors almost always require locations to be a certain distance apart from each other. This means that you have an area to do your business in and so does everyone else, eliminating the need to feel competitive with other franchise owners. This helps foster an excellent sense of community between you and other members of the franchise network.
7. Easier expansion
Buying a fitness franchise gives you a head start on building your business, making it easier to finance new locations and expand rapidly. As a member of the franchise network you may also be given first pick of any franchises being sold off by owners who plan to retire.
The unique qualities of a fitness franchise make it one of the easiest ways to become a successful fitness industry entrepreneur within a relatively short period of time, and these benefits carry on well past the initial years of your business.
Greg Nunan is an Australian-based small business expert. He has held positions of both Franchise and Franchisor within the Australian fitness industry. Nowadays he provides internet marketing services to small businesses and franchise groups via his Adelaide SEO company Winning Edge Digital.