Why is the Business of Fitness Franchises So Successful?
There are a lot of trends that come and go, but fitness and health are things that people will always want to invest in.
As the population grows in both age and size, so does the demand for fitness franchises. We offer our clients the key to a healthier and more productive life, which is an appealing idea to anyone.
The thing is that a good fitness franchise benefits everyone involved. It provides motivation and accountability for the client and a sustainable business model for the owner. With a fitness franchise like Fit Body Boot Camp, you’re not trying to do everything alone. You’ve got a whole team of other owners behind you that can teach you lessons from their successes and failures. This allows new owners to learn and grow quickly as their teammates teach them the ins and outs of the business model. It’s almost like a cheat sheet to success.
That sense of community is another great benefit of joining a fitness franchise. Members and owners get to be a part of something bigger, and it fills them with a sense of pride. For example, one of the most popular aspects of Fit Body Boot Camp is the private Facebook groups we set up for each location. Those groups are a great way for members to get genuine support and advice from people who are on the same path that they are.
On the business end, franchises come with a lot of built-in client trust (assuming they’re a good franchise). Good franchises offer a form of stability for their clients, because they know that they can expect a consistently high quality experience no matter which facility they visit. If a friend in another city or state swears by a specific fitness facility then you are going to be more likely to go to that same facility in your hometown. People don’t want to feel like they’re wasting their money.
What is your personal advice for entrepreneurs looking to start or purchase a franchise?
Research. You should always look in to whatever company you’re thinking about buying into. What are the company’s other facilities like? What kind of reviews are they getting? You don’t want to open a location for a franchise that doesn’t have a good reputation.
And see how much they’re willing to give you information-wise. Companies should always be straightforward about their lead generating strategies and how they’re going to help you get off the ground and quickly get your first clients through the door. The second they start saying that you need to pay to find any of this out, get out of there. If information isn’t readily available then how are you supposed to know if that franchise is the right fit for you?
You also need to organize your personal life before purchasing a franchise. Make sure you sit down with your friends and family and explain what, exactly, your goals are. If you have a strong support structure around you, you’re more likely to succeed, and letting others know what your goals are will push you not to let yourself or anyone else down.
Figure out how you’ll raise your initial investment money and how you plan to run your business before beginning the process of buying. If you don’t think about these things ahead of time you’re going to end up frustrated later.
It should only take you about 3 months to choose and invest in a fitness franchise. If you find yourself taking longer than that you may not be in a good place to be purchasing a franchise at that moment. Wait until you’re ready, don’t rush into it. Otherwise your business will suffer.
The last thing you need to do is make sure you’re asking the right questions. Yes, there are a lot of “sexy” things about owning a fitness franchise, such as the machines and equipment, but that’s not all there is. You need to tap into the “unsexy” side, ask questions about the business and what is expected from you as an owner. Stay on track and find your straightest line to success, and the other stuff will fall in to place.
Bedros Keuilian is the founder and CEO of the world’s fastest growing indoor fitness boot camp franchise: Fit Body Boot Camp. He’s also the fitness industry’s leading consultant for marketing, business systems and development. His blogs, products, books, and live events help tens of thousands of fitness professionals and business owners around the world build more robust and profitable systems. Bedros has been featured as a host and expert on Spike TV’s Gym Rescue, and he’s also known as the “Hidden Genius” behind many of the biggest names in the fitness industry including top celebrity personal trainers featured on popular television shows. An immigrant from a communist country turned hugely successful entrepreneur, Bedros uses the stage to share his personal American Dream story and imparts his passion for success with audiences worldwide.