Fitness Franchise The Healthy Investment Opportunity
Current opportunities in the fitness space make franchising an interesting option for those who make a healthy, active lifestyle a priority. Market conditions, consumer trends and opportunities for additional revenue streams are helping attract investors. Looking Fitness Franchise The Healthy Investment Opportunity Click Here
Those who find themselves in position to open their own business face a number of difficult choices, but for entrepreneurs who pride themselves on a healthy, active lifestyle, the decision to buy a fitness franchise should be an easy one.
The knowledge, skills and experience these professionals have built up over the course of a career, combined with an entrepreneurial spirit, give them valuable insight into what it takes to run a business. The ability of a franchisor to share tested, successful practices that support a new location from the front desk to the back office is a major reason why franchises are expanding quickly in the current economic climate.
For fitness franchises, the coaching and guidance provided to new franchisees extend beyond what it takes to successfully run a business to include specific coaching and instruction for trainers and other gym staff. An established franchisor can train staff in the methods that have helped other gyms throughout the system thrive and retain monthly memberships. Proven franchise systems create a safer investment than starting a new business from scratch, allowing entrepreneurs to pursue these opportunities with greater confidence. A strong, established franchise system provides guidance and best practices that help fill in the gaps in their knowledge and experience, meaning they can supplement their existing skills with the shared knowledge of a successful franchise to get up to speed, smooth out the learning curve and find success quickly. Franchising has long served as the career opportunity of choice for established professionals looking to add a new income source as they prepare for retirement or seeking a way out of the corporate 9-to-5 and the second act in their careers. In 2016, The Franchised Business Outlook Report released by the International Franchise Association showed the franchise sector growing faster than the rest of the economy by nearly 2%.
Combining experience and a passion for fitness
The industry has proved itself to be recession resistant, as fitness enthusiasts are likely to prioritize spending on their health, even when they’re cutting back on other expenses. Brick-and-mortar retail’s decline has created many vacancies in a commercial real estate. These vacancies, combined with gyms’ abilities to draw their members in several times a week, mean fitness centres make very appealing tenants for commercial realtors because they can entice retail businesses to remain in malls and shopping centres. These factors combine to give fitness franchises a lot of leverage when looking for sites, which leads to advantageous rent prices.
As the price of real estate is falling, revenue for the fitness industry is rising. Even with the backing of a strong franchise concept, starting a new business is hard work that sometimes requires long hours, but the added motivation of owning a business that surrounds you with a staff and customer base that share an enthusiasm for physical fitness means gym owners show up every day knowing they’re working to build something they really believe in.
While current economic conditions have been great for franchises, they’ve been especially great for the fitness industry. For potential franchisees with an interest in a healthy, active lifestyle, buying into a fitness franchise allows them to combine their career experience, a proven business concept and their passion for fitness to drive them to success. In response to the global obesity crisis, more people are seeing the value in fitness programs. The fitness industry generates $76 billion dollars worldwide.
Why is fitness franchising so popular? Here’s what market research firm IBISWorld has to say:
Over the five years to 2018, the Gym and Fitness Franchises industry has benefited from public health initiatives that shed light on the importance of fitness in fighting diabetes, obesity and other health ailments. Partially a result of this health-conscious climate, the number of health club memberships has grown steadily during the period. This trend has benefited gym franchises, as greater demand from a larger gym-going demographic encouraged franchise expansion. Thus, many franchisors, in an effort to develop a larger client base and respond to the growing popularity of boutique gyms, have offered more franchise opportunities over the past five years.
~ From the IBISWorld 2018 Gym & Fitness Franchises Report (US)