May 16th, 2018 by Jasmine Green
Thinking of investing in a business? Why not invest in a gym franchise?
When it comes to investments, people don't immediately think of gym franchises. But unknown to many gym franchises can not only be very lucrative but beneficial in many other ways to franchisees. Here are some of the reasons why gyms can make excellent franchise investments:
1. Turnkey Operations
Established gym franchises are basically turnkey operations, which means that most areas needed to run the business and ensure its success are already established by the franchisors. All the business plans, procedures and policies have already been established; the equipment, fit-outs, signage, marketing and training are provided for; and of course, the franchisor will provide ongoing support. And because you are carrying a well-known brand, you most likely will already have an established customer base.
2. Low Entry Point
Gym franchises have relatively low overheads and initial investment, a solid return in investment and you don't have to have specialised knowledge going into the franchise. Any knowledge you will need will be given to you through initial training and ongoing franchisor support.
3. Low Seasonality
Fitness is a lifestyle, not a hobby or a passing trend. This is why unlike many other businesses, gyms are relatively unaffected by seasonal changes. While some months (particularly the start of the year) usually usher in a lot of new members, you can expect a steady flow of income throughout the year.
4. Simple Business Model
Gym franchises, 24 hour gyms specifically, are a relatively , straightforward business model. With the assistance of one or two staff the business is easily managed from a day to day operational perspective. .
5. Making a Difference
It is rare to run a business that actually makes a real, positive difference in people's lives. A gym is one of those rare businesses. In the gym people become fitter, healthier, happier and more confident—and you can actually see those things unfold. Who wouldn't want to run a business like that?
6. Other Sources of Income
A gym franchise gets most of its revenue from membership fees, but it can also provide plenty of other ways to earn extra income. Personal training, classes, selling gym apparel, consumables and health and weight-loss products are just some of these ways.
7. Better Work/Life Balance
While being the owner or operator of a gym requires you to be present to make sure that everything is running smoothly, it is a rewarding role that that is more than manageable than many ,especially if your staff are well-trained and competent. This means that you can take vacations more readily and have more time to spend on other priorities like your family, other business ventures or an existing career.
8. Better Work/ Life Balance
While being the owner or operator of a gym requires you to be present to make sure that everything is running smoothly, it isn't all that demanding a role especially if your staff are already well-trained and competent. This means that you can take vacations more readily and have more time to spend on other priorities like your family or other business ventures.
So what are you waiting for? If you're ready to reap the benefits then it's about time you get your own gym franchise. Want to learn more about gym franchising? Get in touch with Plus Fitness today.