When and why did you decide to buy a franchise?
My first contact with Plus Fitness 24/7 was as a long time member of their health clubs, which have been around for many years and were well known in the Macarthur region. I have spent my career in business banking and was fortunate enough to have Plus Fitness 24/7 as a client when they made the decision to develop the brand as a franchise. It was very exciting seeing the process and watch the company sell it's first franchise, and before I knew it they had sold their 50th and so on. I had a relationship with some of the early franchisees and they had such great things to say about their experiences, I developed a keen interest in the model and contemplated jumping ship many times from business banker to business owner.
Eventually the opportunity arose to buy a Plus Fitness 24/7 franchise in the Penrith with a business partner that was also keen to buy a franchise. This was just after I had earned my 15 years long service leave from my employer. I thought this was the perfect timing and jumped on the opportunity.
How did you go about researching the brand?
Fortunately, I had the opportunity to spend a long period of time researching the ins and outs of the brand through being a member and working with the company for a few years. I also took the opportunity to quiz existing franchisees on their experiences with starting a Plus Fitness 24/7 and I took on board a lot of tips and advice throughout this process. The company provided me with a range of tools to conduct my own market research on areas as well as tools to build a reliable cash flow forecast based on the trends and performance of existing franchises in the network.
What would you do differently in terms of the due diligence process, if anything?
I feel that we comfortably covered off on all the required areas of due diligence.
What was the major reason for you choosing this brand?
After comparing other franchise brands in the industry, I found that Plus Fitness 24/7 provided a greater level of support in both the establishment of the clubs, providing end to end support throughout the construction and presale right through to follow up support with our own dedicated Franchise Support Manager. On top of this, the entry costs were the most reasonable with greater value for money than other brands. I was also attracted to the fact that Plus Fitness 24/7 is an Australian Owned & local brand. This has many benefits including the fact that they are aware of and respond to market conditions very quickly, being local and in touch with the market.
How did you fund your franchise investment?
A part of my franchise investment was funded through my bank on a business loan and I also utilised some savings. The equipment which makes up a large portion of the initial investment was funded on an asset finance facility. Plus Fitness 24/7 has relationships with a number of financiers who know their model, so I found that we had a number of finance options available to me.
What is the biggest lesson you’ve learned as a franchisee?
The biggest lesson I have learned is to build a solid relationship with my franchisor. They have been of great assistance whenever I have needed advice. I have also learned to surround myself with people that have more experience than myself and take their advice and absorb information. I often meet with fellow franchisees for a chat and to share ideas about what is and isn't working so we can learn from each other. There is a really supportive environment between franchisees in the Plus Fitness network.
What has been the biggest challenge as a franchisee?
My biggest challenge came with the fact that I have never before this owned my own business, so I found myself on a steep learning curve in relation to all facets of business, from marketing, to HR to finance. This challenge was alleviated somewhat by having the support of a franchisor. A year and a half in, I can not believe how much I have learned and I feel fortunate to have had this opportunity to develop.
What goals have you achieved since being a franchisee?
Being a single parent with 3 young children, my goal was to achieve financial independence, and a greater work/life balance than I had as an employee. The Plus Fitness model has allowed me to achieve this, as they have established the system so that we can easily manage the clubs remotely when needed. I am able to work from home or from the club to fit in with my lifestyle.
What advice would you offer someone thinking of investing in a franchise business?
As a first time business owner, I feel that buying a franchise was the perfect way to start. When you buy a franchise, you are buying a proven system that already has the hard work of trial and error done and a recognisable brand to offer your customers. You also have the benefit of a support network which you would not have if you went out on your own.
Would you invest in this brand again?
I would definitely invest in the brand again. The experience has been very positive. In fact, since my purchase of the initial franchise in Penrith 18 months ago, I have since opened 2 more clubs and would consider opening more.