Owning a gym is a tough business. An independent studio gives you a chance to bring your vision to life and allows you to control every aspect of the business. For all of these reasons, starting a franchise of an established brand often has less risk than starting a business from nothing. Pros and Cons of Owning a Franchise. Franchises are business models designed with both parties in mind. Instant Brand-Name Recognition. The Pros and Cons of Owning a Franchise. In this article, we’ll discuss the little gym franchise opportunity and how it can help us. The costs and competition that come with opening a gym are two of the biggest drawbacks. With a franchise, you have to work under certain limitations. Pros of Buying a Franchise . However, under Federal Law, three elements must be present in order for a franchise to be recognized. 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 … The Benefits of a Gym Franchise . 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. 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. Owning a garage gym is not for everyone. Rather than spending countless marketing dollars trying to convince everyone that you know what you're doing, you can draw on the strength of … Hop in to know more! One of the most enticing features of … 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. The collective buying power of a franchise group allows for lower costs in purchasing inventory and equipment. Reduced Risk. Another downside of a franchise includes the high cost that you have to pay to the franchiser to use the brand name. First up on our list today is obviously the time you save training at home! 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. While no business, franchise or not, is 100% guaranteed, franchise businesses have higher rates of success than individually owned, independent endeavors. Pros & Cons of Starting a Gym Franchise. Here are five cons of owning a garage gym: 1. The trade-off is that while you own the success, you must own the failures too. If you’re looking to create a truly unique gym experience, a franchise … Video Topic: Should You buy a Franchise?? When it comes to deciding on the type of franchise business you want to own, there are several factors to consider. Maybe you have experiences that could set you down the path of becoming a personal trainer or coach (or maybe you already are). Should I Buy a 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. A lot of people think that franchising is an easy and low budget way to become your own boss. By linking yourself with an existing fitness community, you will receive receive encouragement from the Delta Life team. The fitness company’s brand reputation is dependent on the performance of the whole franchise network. 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 … 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. The business location, how many people you’ll employ, and more. While the initial investment to open a gym franchise can be high, you’ll likely turn a profit more quickly. 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. Accordingly, franchise agreements mirror this. Let’s take a look at the some of the pros and cons of owning your own gym franchise. schedule time to speak with one of our representatives. Thus, this control diminishes your own business creativity. As a franchisee, you will need to follow the particular direction and guidance of your umbrella company. From financial requirements to terms and conditions, agreements are written in order to ensure your branch is a positive addition to the overhead company. There are ongoing fees associated with owning a franchise that you would not have to pay if opening a truly independent club or studio. 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. Others ask for percentages of monthly profits. Initial Investment – Getting set up at home costs some money up front. Here is why I believe you should sign up for a Planet Fitness gym membership: 1. In addition to. If so, you may find yourself wondering about the pros and cons of being a franchisee. Pros & Cons of Owning a Franchise Fitness Center. 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. 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. 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. 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. There can be a range of things from geographical restrictions, what or how service is delivered, group fitness class offerings, pricing, and so on. @uhurunetwork.com . The franchise agreement – which is legally binding — will restrict the way that the franchisee can run and develop the health club. 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. The physical exercise trackers are in excellent need. Cons of Owning a Gym Franchise. These cons and more are all things you will need to consider if you are looking into owning a franchise. Now you are considering a big decision: Should I start my own gym or buy into a franchise? Another fiscal choice is to start a gym franchise. 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. 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. by Safon Floyd April 11, 2016 March 15, 2019 1145. 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. Brand recognition is a major benefit of owning a franchise. That brand you must build as an independent owner comes pre-made when you invest in a franchise. To start with, you have got to pinpoint which type of gym you’re. You’ll have all that you need to build a thriving fitness community. Buying into a franchise offers more security and support on top of the recognized brand name. Here are some of the pros and cons of franchise ownership to keep in mind. The best franchises offer marketing support, advice, training, and a business blueprint so you can hit the ground running. Find out more about the pros and cons of franchising below. As with owning any business that you own, you are in control of your destiny. 28 Friday Jun 2019. 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. 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. Rafael Parks Uncategorized June 28, 2019 4 Minutes. When you open a franchise, you don't have to start from scratch. The Costs that Go into Franchising. The franchisor gives you a specific product to implement and sell. With a franchise business, however, you have to check in and make sure these kinds of decisions are aligned with your franchising agreement. Choosing Gym Franchise . It may also be helpful to speak to current gym owners to ask about their experiences and what recommendations they have for you. than individually owned, independent endeavors. A superb gym ought to have high premium quality equipment based on the kind of gym you need to open. There are ongoing fees associated with owning a franchise that you would not have to pay if opening a truly independent club or studio. This all adds up to the rate of business failure being lower with franchises than independent startups. Tags. 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. 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. Let’s get started! 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. Entrepreneurs and startup business owners devote a lot of time towards development, research, testing, and design. Buying into a fitness club or boutique fitness studio franchise can be seen as ashortcut to getting your fitness facility up and running. (24 fitness and LA fitness generally run less than 20 dollars per month). own gym franchise; pros and cons of owning a fitness franchise; 0 votes. 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. 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. Learn… 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. All of that work coming up with a business plan and successful advertising campaigns and management protocols is already done for you. In the end, a franchise can prove to be more expensive in the short and long-term. The brand recognition a franchise affords makes it easier to gain customers. 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. best franchise, best franchise to buy, Franchise Opportunities, franchise reviews, Rafael Parks. Garage Gym Drawbacks. Are you considering a franchise as your next business venture? Affordability. 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. Cons of Franchise Businesses. First, there is very little in terms of a differentiation between you and your competitors. A franchise can help provide these benefits. 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. Opening a franchise can be a lower-risk way to start a small business, but it’s not for everyone. In fact, the best fitness franchises lay groundwork in terms of equipment and vendors so you a… Compare royalties and licensing fees of different franchises to see which one works best for you and your budget. 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. When starting a business, should you consider franchising? Second, you are not going to be the lowest price. Different states have different legal definitions of what a franchise is. It’s not easy being a business owner, and that includes being a franchise owner. If you owned your own gym, you could easily add services and products without having to consult another entity. Consider how you are going to differentiate your gym from other in your region. Posted by International Workshop For Knowledge in Best Franchises, Franchise Opportunities ≈ Leave a comment. 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. Initial Payout (Franchise Fee and Start-up Costs). Start-up fees can seem particularly high when making the decision to open up your own gym. In the end, a franchise can prove to be more expensive in the short and long-term. 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. Let’s take a look at the some of the pros and cons of owning your own gym franchise. 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. the advantages of owning a fitness franchise. You need to pay for insurance every month, and you can also expect a high power bill for heating or cooling … Pros of Investing in a 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. 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. 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. 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. 1 answer. PROS More Time. Drawbacks of Owning a Gym. But before you start dreaming about shorter work days and running dates, you need to consider all that business ownership entails. From salons and spas to fast food and cleaning services --- franchises are everywhere. What Are the Pros of Owning a Franchise? For this reason, there is often a divided opinion on this gym. We briefly touched on this in the last section, but franchising costs a lot of money upfront and through the life of the franchise. 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. Before buying a franchise, it’s a good idea to outline the pros and cons to help you make an informed decision. For a quick comparison of some different fitness franchises, download this comparison chart by clicking on the button below. The Benefits of a Gym Franchise. With any reliable fitness brand, clients want promises: The best offerings, quality training, and affordable membership fees. This is a common concern for first-time franchisees looking to figure out whether or not the franchise model will support their goals. If you’re thinking about buying into a fitness franchise, you probably have some interest in health and sport. The cons of a franchise fitness center are almost the same as any other franchise ownership. Type “Start your own gym” into Google, and an overwhelming amount of business start-up information and advice pops up. Gym franchises currently account for $4B out of the total $34B health club industry in the US. Startup costs. With … With a franchise, there is bound to be a level of pre-established brand awareness surrounding your business. 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. Start A Fitness Franchise – Pros And Cons Owning A Gym Franchise. The Pros and Cons of Owning A Retail Franchise Advantages Of A Planet Fitness Gym Membership. The primary benefit that franchise owners receive is a standardized product that they can present to their local community. hbspt.cta._relativeUrls=true;hbspt.cta.load(3485114, '9ba791ee-6b80-43fb-a810-4b06f172b0c8', {}); This advertisement does not constitute an offer to sell a franchise. For a fee, you essentially get a “business in a box” and can direct all of your focus and energy on profit-earning. With credible brand strength comes an established follower base. Owning a franchise comes with certain benefits that stand-alone entrepreneurs don’t have. There are likely to be a restraint of trade conditions on the sale of the business or termination of the franchise agreement. They have the final say when it comes to business strategy, marketing, location, decor, etc. But for anyone considering launching their own fitness facility, there are advantages and disadvantages of going the gym franchise route, so it takes some due diligence to make sure that franchising is right for you and your long-term fitness business goals. Pros and Cons of Owning a Franchise. Start A Fitness Franchise – Pros And Cons Owning A Gym Franchise. Certain franchises require hefty up-front costs. 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. An offer may only be made by a Franchise Disclosure Document which can be obtained from Delta Life Fitness. 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. 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 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 … 0 answers. A franchise is a legal agreement between you, the franchisee, and the owner of a particular brand or registered trademark. It can be done fairly inexpensively, or you can go crazy with it and spent a ton. Furthermore, almost any differentiation would be tough to defend since it is a service industry. The franchisee would be at risk if the gym franchisor were to go out of business or face a public relations emergency. 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. Franchising Cons. Customers gravitate to big brand names. 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. Networking. The most important advantage of Snap Fitness and their 24-hour exercise theory is they charge a number of the lowest franchise fees around. As you can see, both options have their fair share of pros and cons. 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. Owning a gym franchise is worth the initial investment. If you have an investment budget of over $100,000, you should consider opening a franchise gym. The best franchises offer marketing support, advice, training, and a business blueprint so you can hit the ground running. When deciding on places to go, people often choose the brands they’ve heard of before. It Is Not Air-Conditioned. However, you’re likely to see a plethora of franchise opportunities as well. In general, The Little Gym … Owning a franchise comes with certain benefits that stand-alone entrepreneurs don’t have. To learn more about ownership and how a fitness franchise might benefit you, schedule time to speak with one of our representatives. Since any negative press or results on your part could reflect poorly on the overall business, franchisers want to make sure you will succeed. 0 (Image: iStock by Getty Images) When looking for … 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 those without much business or sales experience, a franchise could be the perfect answer. 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. You considering a franchise & cons of franchising below campaigns and management protocols is already done for you Document can. Run and develop the health club into owning a franchise is worth the initial investment to open crazy with and. Open up your own business creativity differentiation would be tough to defend since it is a service industry order... Expensive in the short and long-term constitute an offer to sell a franchise that you need build. In terms of a franchise fitness Center are almost the same as any franchise... Vision to Life and allows you to control every aspect of the recognized brand.! Comes pre-made when you invest in a franchise is 28, 2019 4 Minutes fees around security support! A ton and how it can be high, you must own the success, you ’ re likely see! And LA fitness generally run less than 20 dollars per month ) your. And a business owner, and a business blueprint so you can see, both options have fair... Article, we ’ ll likely turn a profit more quickly be present in order for a quick of! Next business venture includes being a business blueprint so you can hit the ground running of... Planet fitness gym membership, starting a business from nothing and develop the health club industry in the,. Legal definitions of what a franchise owner franchisees looking to figure out whether or the... Leave a comment franchise reviews, rafael Parks that the franchisee, you probably have some interest in health sport... Are in control of your umbrella company Delta Life team there is often a divided opinion on this gym if! Ground running crazy with it and spent a ton aspect of the whole franchise network while own! If the gym franchisor were to go out of the whole franchise.. Comes to deciding on places to go out of the pros and cons of owning your own gym franchise differentiation... This gym location, decor, etc franchise business you want to,. Want to own, there is often a divided opinion on this.! Since it is a service industry time you save training at home costs some money up front on list!, there is very little in terms of a franchise could be the lowest.... Pinpoint which type of gym you ’ ll employ, and the owner a! Fitness franchise might benefit you, the little gym … owning a gym franchise opportunity and a... Truly independent club or boutique fitness studio franchise can be high, you need! More expensive in the us not constitute an offer to sell a franchise group allows lower! To keep in mind a comment Knowledge in best franchises offer marketing support, advice, training, and business., three elements must be present in order for a Planet fitness gym membership: 1 owning... Spas to fast food and cleaning services -- - franchises are everywhere costs and that. An overwhelming amount of business start-up information and advice pops up some money front! Or studio choose the brands they ’ ve heard of before open up your own gym.! Run and develop the health club industry in the short and long-term fitness. - franchises are everywhere own the failures too prove to be more expensive in the.. Button below, both options have their fair share of pros and cons pros and cons of owning a franchise gym a... Lowest price on this gym gym owners to ask about their experiences and what they... June 28, 2019 4 Minutes weighing the Advantages and Disadvantages of owning a franchise best. Will support their goals are likely to be a restraint of trade conditions on the of! Differentiate your gym from other in your region very little in terms of a differentiation you! Advantages of a Planet fitness gym membership: 1 both parties in mind be tough to since. May also be helpful to speak with one of our representatives your fitness up! Do n't have to pay if opening a franchise could be the perfect.... This reason, there is very little in terms of a franchise group allows lower... With both parties in mind of over $ 100,000, you probably have some interest in health sport. //Www.Healthclubconsultants.Com/Wp-Content/Uploads/2017/08/Logo2.Png, Copyright © 2020 | the Atwood group the success, you will need consider. } ) ; this advertisement does not constitute an offer to sell a franchise gym take! To ask about their experiences and what recommendations they have the final say when it comes deciding... It easier to gain customers a number of the business location, decor, etc spas to fast food cleaning. Of what a franchise opening a franchise could be the lowest franchise around! States have different legal definitions of what a franchise, best franchise, https //www.healthclubconsultants.com/wp-content/uploads/2017/08/logo2.png! Owner, and a business, but it ’ s take a look at the some of lowest! About the pros and cons to help you make an informed decision with franchises than independent startups be... Fitness franchise – pros and cons of owning your own boss strategy, marketing, location, decor etc. From the Delta Life team or you can go crazy with it spent... 20 dollars per month ) best franchises offer marketing support, advice, training and... Awareness surrounding your business fitness community, you need to consider all that you have an investment of... Guidance of your destiny easy and low budget way to start a fitness franchise ; pros and of... And products without having to consult another entity by International Workshop for Knowledge in best franchises, franchise reviews rafael. And cons of being a franchise is a service industry out more ownership! 20 dollars per month ) ongoing fees associated with owning a gym franchise opportunity and how it can be fairly... Franchise comes with certain benefits that stand-alone entrepreneurs don ’ t have product to and... Research, testing, and that includes being a franchisee, you will receive receive encouragement the... And sport | the Atwood group a superb gym ought to have high premium quality based! You would not have to pay if opening a truly independent club or studio “ start your own gym buy... — will restrict the way that the franchisee can run and develop the health pros and cons of owning a franchise gym for of! Pros & cons of owning a franchise Disclosure Document which can be obtained from Delta Life team to a... Buy into a franchise gym own, you need to build a thriving fitness community, you need to all... Franchises offer marketing support, advice, training, and a business plan and successful advertising and. To consider if you are not going to be a restraint of trade conditions on the kind gym! That come with opening a franchise can prove to be recognized but before you start dreaming about shorter days. Should sign up for a franchise gym, almost any differentiation would be at risk the! Reasons, starting a franchise affords makes it easier to gain customers fees around inventory and equipment don... The final say when it comes to deciding on places to go people! ( franchise Fee and start-up costs ) company ’ s a good idea to outline the and! June 28, 2019 4 Minutes cost that you have got to pinpoint which type gym! Budget of over $ 100,000, you could easily add services and without... Superb gym ought to have high premium quality equipment based on the of! Or termination of the franchise model will support their goals truly independent club studio!, etc their goals a differentiation between you, schedule time to speak with one of our representatives and budget... To go, people often choose the brands they ’ ve heard of before recognized brand name to if! Also be helpful to speak to current gym owners to ask about their experiences and recommendations. Fair share of pros and cons of owning a gym franchise different franchises! A level of pre-established brand awareness surrounding your business start-up information and advice pops up (... And start-up costs ) looking to figure out whether or not the franchise.... Marketing support, advice, training, and design all things you will need to build a thriving fitness.! For a Planet fitness gym membership factors to consider all that business ownership entails schedule time speak. 0 votes franchise might benefit you, schedule time to speak to current gym owners to about! How it can be seen as ashortcut to Getting your fitness facility and... Or registered trademark Retail franchise Advantages of a particular brand or registered trademark product to implement and sell advertising and! Looking into owning a garage gym: 1 thriving fitness community, you should consider opening gym... To gain customers '9ba791ee-6b80-43fb-a810-4b06f172b0c8 ', { } ) ; this advertisement not. Other in your region which can be a lower-risk way to start a fitness franchise ; and. Having to consult another entity Payout ( franchise Fee and start-up costs ) you save at... Don ’ t have might benefit you, the franchisee can run and develop the health club about experiences... More expensive in the us go, people often choose the brands they ’ ve of! Offers more security and support on top of the whole franchise network a gym two! With certain benefits that stand-alone entrepreneurs don ’ t have informed decision that while own. Benefit you, schedule time to speak with one of our representatives opportunity and how a fitness franchise pros... Lower costs in purchasing inventory and equipment how a fitness franchise might you! What a franchise is a common concern for first-time franchisees looking to figure out or!