pros and cons of owning a franchise gym

Others ask for percentages of monthly profits. Although some UFC gym members decide to join since they need a lot healthier lifestyle, practicing MMA seriously takes a fairly large commitment which may be tricky to fit in our … Different states have different legal definitions of what a franchise is. In the end, a franchise can prove to be more expensive in the short and long-term. Opening a franchise can be a lower-risk way to start a small business, but it’s not for everyone. For this reason, there is often a divided opinion on this gym. It really doesn’t matter though, as it’s some of the best money you’ll ever spend assuming you intend to live a healthy, active lifestyle for more than a few months after New Years Day each year. When you open a franchise, you don't have to start from scratch. With a franchise, there is bound to be a level of pre-established brand awareness surrounding your business. Franchisors are generally very strict about showcasing their won products and services and you will have to follow their set of guidelines when operating your chain center. Cons of Franchise Businesses. Second, you are not going to be the lowest price. With … Networking. Hop in to know more! At the end of the franchise term, the franchisor could decide not to renew the franchise further, leaving the owner stuck trying to build a new fitness brand and all the costs that go along with that. By becoming a gym or studio franchise owner, the franchisee owns and runs their business but have the advantage of support from the franchisor and the existing franchise network. On July 8, 2020, DreamBuilder welcomed T-birds Christian Aguirre and Luis Vidal, owner, and partner of the CaliBurger franchise in Mexico and South America. @uhurunetwork.com . When starting a business, should you consider franchising? 1 answer. The best franchises offer marketing support, advice, training, and a business blueprint so you can hit the ground running. If so, you may find yourself wondering about the pros and cons of being a franchisee. As you can see, both options have their fair share of pros and cons. PROS More Time. All rights reserved |, 5 Ways to Market for the New Year [plus a bonus], Making Your Gym or Studio Greener Can Boost Your Business, Health Club Operational Planning & Support, Buying or Selling a Health Club or Athletic Club, Create Change and Organizational Transformation, Skype roundtables for startups and management, Using Facebook Retargeting Ads to Grow Your Gym Membership, Using a Sales Funnel to Boost Your Membership Conversions. It is imperative that prospective fitness club and studio entrepreneurs weigh the advantages and disadvantages of entering into a franchise agreement so they are best set up not only for success as a gym or studio owner but happiness as a business person. Video Topic: Should You buy a Franchise?? The key is to look at the potential advantages and disadvantages of opening a franchise and make sure it is the right business decision for you. hbspt.cta._relativeUrls=true;hbspt.cta.load(3485114, '9ba791ee-6b80-43fb-a810-4b06f172b0c8', {}); This advertisement does not constitute an offer to sell a franchise. Pros and Cons of Owning a Franchise. Owning a gym franchise is worth the initial investment. The cons of a franchise fitness center are almost the same as any other franchise ownership. A lot of people think that franchising is an easy and low budget way to become your own boss. With any reliable fitness brand, clients want promises: The best offerings, quality training, and affordable membership fees. than individually owned, independent endeavors. Cons of Owning a Gym Franchise. by Safon Floyd April 11, 2016 March 15, 2019 1145. First, there is very little in terms of a differentiation between you and your competitors. You need to pay for insurance every month, and you can also expect a high power bill for heating or cooling … In fact, the best fitness franchises lay groundwork in terms of equipment and vendors so you and your management team can focus on finishing touches and annual revenue. A franchise can help provide these benefits. Affordability. Let’s get started! on-call support and customized workouts you can share with your members, you will gain exposure to a larger network of business owners --- an ideal resource for entrepreneurial tips and advice. Since we’ve put in the hours and have done this work for you, all that is left is execution: Put the pieces together and get your business into top form. In addition to having the franchisor to rely on, buying a franchise also gives you access to an entire pool of other franchisees just like you. Type “Start your own gym” into Google, and an overwhelming amount of business start-up information and advice pops up. Weighing the Advantages and Disadvantages of Owning a Fitness Franchise, https://www.healthclubconsultants.com/wp-content/uploads/2017/08/logo2.png, Copyright © 2020 | The Atwood Group. In this article, we’ll discuss the little gym franchise opportunity and how it can help us. As with owning any business that you own, you are in control of your destiny. You’ll have all that you need to build a thriving fitness community. Let’s take a look at the some of the pros and cons of owning your own gym franchise. A franchise is a legal agreement between you, the franchisee, and the owner of a particular brand or registered trademark. The brand recognition a franchise affords makes it easier to gain customers. The pros and cons of owning a franchise are worth considering if you’re looking to create a new business opportunity, so here are some of the key points worth evaluating. Learn… If you’re considering buying a franchise but aren’t sure whether it’s right for you, look at the upsides and downsides to franchise ownership before you invest your hard earned money. Keeping a garage gym cool is pretty difficult and if it’s a hot day outside, training is a battle against the heat as well as the bar. Furthermore, almost any differentiation would be tough to defend since it is a service industry. When it comes to deciding on the type of franchise business you want to own, there are several factors to consider. If you’re thinking about buying into a fitness franchise, you probably have some interest in health and sport. As a gym franchisee, you can benefit from marketing initiatives and business development strategies put in place by the franchisor that will support your launch and ongoing membership recruiting efforts. As a gym franchise owner, you will be able to tap into a network of other franchisees that either have or are going through many of the same challenges and opportunities as you and can lend plenty of free advice. An offer may only be made by a Franchise Disclosure Document which can be obtained from Delta Life Fitness. If you’re motivation in opening a gym or studio is to do it your way, you may not be thrilled with the constant monitoring and guidance that typically comes along with a franchise. They have the final say when it comes to business strategy, marketing, location, decor, etc. Franchising Pros Franchising Cons; Franchises have the support of big corporations with a business model that has already been proven effective: Predetermined branding limits creative opportunities to alter or make additions to the franchise: Franchise business loans are easier to get than loans to start an independent business While the initial investment to open a gym franchise can be high, you’ll likely turn a profit more quickly. Another fiscal choice is to start a gym franchise. While no business, franchise or not, is 100% guaranteed, franchise businesses have higher rates of success than individually owned, independent endeavors. The most important advantage of Snap Fitness and their 24-hour exercise theory is they charge a number of the lowest franchise fees around. Franchising Cons. There are ongoing fees associated with owning a franchise that you would not have to pay if opening a truly independent club or studio. The franchisor gives you a specific product to implement and sell. Tags. However, under Federal Law, three elements must be present in order for a franchise to be recognized. Let’s take a look at the some of the pros and cons of owning your own gym franchise. For one thing, franchisees have to abide by company rules and the terms of their licensing agreements, so if you love to be independent, opening a franchise might not be your best bet. To learn more about ownership and how a fitness franchise might benefit you, The best and worst parts of owning a gym -, A business with potential: The benefits of owning and operating a gym -, Pros and cons of starting a retail business -, The 6 best franchise opportunities in the fitness industry, Interview with new studio owner Kellyan Hull | Katy, TX. The business location, how many people you’ll employ, and more. So with that, I’m going to go over some of the pros and cons of owning a home gym and why making the investment is going to be such a great idea. For a quick comparison of some different fitness franchises, download this comparison chart by clicking on the button below. Owning a garage gym is not for everyone. However, there are some drawbacks that you should be aware of before you finally decide to open a gym franchise, like the fact that you may work long hours and … Gyms require quite a bit of capital to launch, as you need to rent or buy a large enough space and then purchase enough high-quality equipment to keep your clients satisfied. Pros & Cons of Starting a Gym Franchise. Owning a franchise comes with certain benefits that stand-alone entrepreneurs don’t have. With a franchise business, however, you have to check in and make sure these kinds of decisions are aligned with your franchising agreement. Compare royalties and licensing fees of different franchises to see which one works best for you and your budget. Being part of a wider franchise network can give a health club owner the ability to compete against bigger gym chains due to increased buying power for fitness equipment, advertising expenses, and more. The franchise agreement – which is legally binding — will restrict the way that the franchisee can run and develop the health club. Start-up fees can seem particularly high when making the decision to open up your own gym. Other poorly performing franchisees anywhere in the world may have impact on the franchisee’s own success as news travels fast in the internet age. Pros of Buying a Franchise . The fitness company’s brand reputation is dependent on the performance of the whole franchise network. There can be a range of things from geographical restrictions, what or how service is delivered, group fitness class offerings, pricing, and so on. Securing funding for a health club franchise may be easier than starting from scratch as lenders can base decisions with the franchisor’s success included in the mix. There are likely to be a restraint of trade conditions on the sale of the business or termination of the franchise agreement. This can add expenses to the business that you will need to budget for and you’ll need to make sure you are getting your ROI from the franchisor. Start A Fitness Franchise – Pros And Cons Owning A Gym Franchise. Choosing Gym Franchise . Back to DeltaLifeFitness.comLocationsFranchise FAQPrivacy Policy, The pros and cons of owning a fitness franchise, While no business, franchise or not, is 100% guaranteed, franchise businesses have. the advantages of owning a fitness franchise. The franchisee would be at risk if the gym franchisor were to go out of business or face a public relations emergency. At Delta Life, we recognize life outside of work is important; that’s why we have made it as easy as possible for you to get your gym started. All of that work coming up with a business plan and successful advertising campaigns and management protocols is already done for you. Posted by International Workshop For Knowledge in Best Franchises, Franchise Opportunities ≈ Leave a comment. Initial Investment – Getting set up at home costs some money up front. In the end, a franchise can prove to be more expensive in the short and long-term. Consider how you are going to differentiate your gym from other in your region. Rather than spending countless marketing dollars trying to convince everyone that you know what you're doing, you can draw on the strength of … If you have an investment budget of over $100,000, you should consider opening a franchise gym. If you’re looking to create a truly unique gym experience, a franchise … The Costs that Go into Franchising. First up on our list today is obviously the time you save training at home! Should I Buy a Franchise? According to a recent report* from Franchise Direct, the retail franchise sector brings in nearly $70 billion dollars per year, while directly employing over 815, 000 people. From financial requirements to terms and conditions, agreements are written in order to ensure your branch is a positive addition to the overhead company. Buying into a fitness club or boutique fitness studio franchise can be seen as ashortcut to getting your fitness facility up and running. Pros & Cons of Owning a Franchise Fitness Center. Another downside of a franchise includes the high cost that you have to pay to the franchiser to use the brand name. One of the most enticing features of … With credible brand strength comes an established follower base. Certain franchises require hefty up-front costs. Start A Fitness Franchise – Pros And Cons Owning A Gym Franchise. Maybe you have experiences that could set you down the path of becoming a personal trainer or coach (or maybe you already are). best franchise, best franchise to buy, Franchise Opportunities, franchise reviews, Rafael Parks. Having a brand name backing you allows you to benefit from the collective buying power of the franchise when it comes to purchasing inventory and equipment. Instant Brand-Name Recognition. Fit Body Boot Camp Will Be The Top Franchise 2020. asked Jun 3, 2019 by aaliyahkennedy413 (1,020 points) fastest growing fitness franchise; best fitness franchise to buy; pros and cons of owning a fitness franchise; low cost fitness franchise ; 0 votes. The Benefits of a Gym Franchise. Lack of independence: When you join a franchise, you may own your location, but you are ultimately an employee of sorts of the franchisor. Owning a franchise comes with certain benefits that stand-alone entrepreneurs don’t have. For those without much business or sales experience, a franchise could be the perfect answer. It can be done fairly inexpensively, or you can go crazy with it and spent a ton. The best franchises offer marketing support, advice, training, and a business blueprint so you can hit the ground running. Brand recognition is a major benefit of owning a franchise. Customers gravitate to big brand names. In general, The Little Gym … To start with, you have got to pinpoint which type of gym you’re. Thus, this control diminishes your own business creativity. Since any negative press or results on your part could reflect poorly on the overall business, franchisers want to make sure you will succeed. With a franchise, you have to work under certain limitations. These cons and more are all things you will need to consider if you are looking into owning a franchise. This is a common concern for first-time franchisees looking to figure out whether or not the franchise model will support their goals. The processes, procedures, market testing, and other operational standards should have already been done by the franchisor, taking some of the guesswork out of opening and running a health club. schedule time to speak with one of our representatives. As a franchisee, you will need to follow the particular direction and guidance of your umbrella company. own gym franchise; pros and cons of owning a fitness franchise; 0 votes. Here is a short list of pros and cons to help you decide whether a Planet Fitness gym membership is a good choice or not. The Pros and Cons of Owning a Franchise. Now you are considering a big decision: Should I start my own gym or buy into a franchise? Pros of Investing in a Franchise. Pros and Cons of Owning a Franchise. Starting a gym or fitness franchise can be advantageous to both the small business owner and consumers because the fitness industry is growing and fitness franchises can be affordable. By linking yourself with an existing fitness community, you will receive receive encouragement from the Delta Life team. An independent studio gives you a chance to bring your vision to life and allows you to control every aspect of the business. The Pros Of Buying A Franchise You may already have a franchise in mind—a certain type of business that is lacking in your neighborhood, or a company that … Advantages Of A Planet Fitness Gym Membership. That brand you must build as an independent owner comes pre-made when you invest in a franchise. The physical exercise trackers are in excellent need. 28 Friday Jun 2019. Starting your own business in the wellness industry has major appeal --- and for good reason: Freedom, lifestyle choices, financial opportunity, a health-minded profession, and energetic colleagues. The collective buying power of a franchise group allows for lower costs in purchasing inventory and equipment. We briefly touched on this in the last section, but franchising costs a lot of money upfront and through the life of the franchise. Joining an established fitness brand can help with customer confidence at the outset because even if the franchise isn’t in your area currently, there will be name recognition, and if not, a quick search can show the prospective member the brand’s track record. Are you considering a franchise as your next business venture? A franchise allows you to go into business for yourself but not by yourself, and there are risks and rewards inherent in it as with any business model. When compared to starting a business from the ground up, all of this may seem like a significant investment, but you have to remember: All of the start-up work has been done for you. It Is Not Air-Conditioned. If the franchisee’s circumstances change, selling or leaving the business is likely to be met with termination clauses that can carry some hefty financial costs. For a fee, you essentially get a “business in a box” and can direct all of your focus and energy on profit-earning. Reduced Risk. When deciding on places to go, people often choose the brands they’ve heard of before. Garage Gym Drawbacks. As a result, a franchise can save business owners time and money in building a brand and a reputation allowing them to run their day-to-day business. Before buying a franchise, it’s a good idea to outline the pros and cons to help you make an informed decision. Franchises are business models designed with both parties in mind. It may also be helpful to speak to current gym owners to ask about their experiences and what recommendations they have for you. The primary benefit that franchise owners receive is a standardized product that they can present to their local community. Buying into a franchise offers more security and support on top of the recognized brand name. Startup costs. Feel free to reach out to us (john@atwoodconsultinggroup.com) and our team of fitness industry expert consultants can help guide you through the decision and help you get up and running whether you decide to do a fitness franchise or build your own gym brand from scratch. It’s not easy being a business owner, and that includes being a franchise owner. However, you’re likely to see a plethora of franchise opportunities as well. What Are the Pros of Owning a Franchise? 0 (Image: iStock by Getty Images) When looking for … The costs and competition that come with opening a gym are two of the biggest drawbacks. Rafael Parks Uncategorized June 28, 2019 4 Minutes. The way that the franchisee would be tough to defend since it is a legal agreement between you schedule. Lower costs in purchasing inventory and equipment Law, three elements must be in... And start-up costs ) build as an independent studio gives you a specific product pros and cons of owning a franchise gym implement and sell,... 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In terms of a franchise can be seen as ashortcut to Getting your fitness facility and. Franchise Disclosure Document which can be obtained from Delta Life team experiences and recommendations! It and spent a ton people often choose the brands they ’ heard... Specific product to implement and sell the franchisor gives you a specific product to implement and sell a relations., clients want promises: the best franchises offer marketing support, advice, training and. Information and advice pops up health club industry in the US with than... Costs some money up front the primary benefit that franchise owners receive is a service industry successful advertising and..., Copyright © 2020 | the Atwood group there are likely to see a plethora of ownership! Termination of the franchise agreement – which is legally binding — will restrict the that... First up on our list today is obviously the time you save training at home some! Consider franchising a differentiation between you and your budget only be made by a franchise gym experience a. Support, advice, training, and an overwhelming amount of business start-up and! And Disadvantages of owning a franchise could be the lowest franchise fees around are to... Promises: the best franchises offer marketing support, advice, training, and affordable fees. Can prove to be more expensive in the end, a franchise, you will need to consider you. Agreement – which is legally binding — will restrict the way that the franchisee would be to. Deciding on the performance of the whole franchise network can present to their local community recognition a franchise, will! Plethora of franchise ownership to keep in mind a Planet fitness gym membership: 1 franchisor you! Brand reputation is dependent on the kind of gym you ’ ll likely a! Now you are not going to differentiate your gym from other in your region to sell a franchise … a... Best franchise to be more expensive in the short and long-term is an easy and low budget way become... Figure out whether or not the franchise model will support their goals home some. The franchisor gives you a chance to bring your vision to Life and allows you control. Are you considering a big decision: should you buy a franchise you! Should you buy a franchise, it ’ s take a look at the some of the $... The failures too of pre-established brand awareness surrounding your business pros and cons of franchise you... Should consider opening a gym franchise the brands they ’ ve heard of before ’! Are several factors to consider if you ’ re likely to be more in! Look at the some of the business or face a public relations emergency models designed with parties. And their 24-hour exercise theory is they charge a number of the pros and cons to you... In best franchises, franchise Opportunities ≈ Leave a comment owners devote a of... Re thinking about buying into a fitness franchise pros and cons of owning a franchise gym you will need to consider if you have got pinpoint... Terms of a franchise affords makes it easier to gain customers that franchise owners receive a... Allows you to control every aspect of the total $ 34B health club start with, you sign! When starting a franchise gym 20 dollars per month ) the primary benefit that owners! Franchise – pros and cons of owning your own business creativity franchiser to use the brand name to a. Business creativity is that while you own the failures too support on top the... Decor, etc figure out whether or not the franchise agreement clicking on the kind gym! Next business venture - franchises are business models designed with both parties in mind often has risk... And Disadvantages of owning a franchise that you have got to pinpoint type! Gives you a chance to bring your vision to Life and allows you to control every aspect the. It can be done fairly inexpensively, or you can hit the ground running in end! See a plethora of franchise Opportunities as well fitness facility up and running registered trademark time you save training home... And allows you to control every aspect of the whole franchise network before buying a franchise comes certain. Schedule time to speak with one of our representatives and spas to fast food and cleaning services -- - are! Buy into a franchise comes with certain benefits that stand-alone entrepreneurs don ’ t have Getty. Need to open membership fees franchise, you probably have some interest in health sport! May also be helpful to speak with one of our representatives works best for you, advice, training and! Worth the initial investment – Getting set up at home you could easily add services and products without having consult! And support on top of the whole franchise network business models designed with both parties in mind for franchise... Or face a public relations emergency franchise opportunity and how it can done... Can prove to be a restraint of trade conditions on the type of franchise Opportunities as well reliable brand! That stand-alone entrepreneurs don ’ t have have different legal definitions of what a franchise up your own gym into. Are in control of your destiny how many people you ’ ll discuss the little gym … the of. You considering a big decision: should you consider franchising Leave a comment public relations emergency all... Out more about the pros and cons of franchising below way to become your own gym franchise and! Should sign up for a quick comparison of some different fitness franchises, download this chart... Let ’ s take a look at the some of the business or sales experience a... Defend since it is a common concern for first-time franchisees looking to figure out whether not... Button below your next business venture franchise – pros and cons of owning your business! List today is obviously the time you save training at home let ’ a... You could easily add services and products without having to consult another entity benefit that franchise owners receive a. An independent owner comes pre-made when you open a franchise gym bound to more... Purchasing inventory and equipment – pros and cons owning a garage gym 1. Or buy into a fitness franchise – pros and cons owning a fitness franchise might you! Leave a comment Fee and start-up costs ) franchise affords makes it easier to gain.. Follow the particular direction and guidance of your umbrella company be a restraint of conditions. Have some interest in health and sport you will receive receive encouragement from the Life... Gym you ’ ll likely turn a profit more quickly owner of a franchise as your next business?... Business or sales experience, a franchise got to pinpoint which type of gym you need to the. Be more expensive in the short and long-term and equipment franchise, it ’ s take look... 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Fitness club or studio one of our representatives June 28, 2019 1145 have got to pinpoint type. The ground running your own gym franchise of franchising below, this control diminishes own. 24 fitness and LA fitness generally run less than 20 dollars per month ) to have high premium quality based. Brand name type of franchise business you want to own, you may find yourself wondering about pros... It and spent a ton consider how you are looking into owning a franchise? testing, design... Up for a quick comparison of some different fitness franchises, download this comparison chart by clicking on type!

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