The demand for quality fitness studios is strong and growing. The business model has been proven in a variety of urban, suburban and small town markets across North America. If you are considering this business, one of the options is buying a fitness studio franchise
There are a number of reasons to consider franchising, but probably the most powerful is a simple one: To reduce the risk associated with startup. Any startup business (franchise or not) carries inherent risk, and as an entrepreneur, the goal is to minimize as much risk as possible. Franchising leverages an existing proven model, and existing operating procedures, thus reducing the risk by deploying known factors.
Reasons to consider fitness studio franchises
Branding expertise, operations support, training, marketing assistance, real estate assistance and more. I’ve read a number of articles on franchising, one of the most thoughtful and thorough is called Why choose Franchising? by Eddy Goldberg. Here is one excerpt:
“….let’s apply common sense: Comparing the payment of: (1) an up-front fee to buy into the support, reputation, and track record of a franchise system with (2) the research, development, and startup costs involved in creating your own, independent business, the odds of survival clearly favor franchisees…..”
Key issues for a potential franchisee include: financing, site selection, branding, marketing, peer networking, territories and more. A good franchisor, provides support in each of these areas — that is what results in the risk-reduction referenced above. As noted in other posts, there are pluses and minuses to the franchise vs. independent startup choice. Also, not all franchisors are alike — and a thorough vetting of their history, processes and franchise system should be undertaken you are considering that road. Feel free to contact me directly to discuss the idea of buying a fitness studio franchise and how to go about it.