Article updated November 2024.
So, you’re keen to own a fitness franchise, but you’re not sure which type of fitness franchise is right for you. The good news is that you’re in the same boat as thousands of plucky entrepreneurs who have come before you!
What kind of fitness franchises are out there?
Typically in the industry, franchises are usually either:
- Group fitness,
- Big box gyms,
- Personal training franchises,
- Niche fitness modalities such as boxing or Pilates; and
- The rapidly growing wellness and recovery space incorporating infrared saunas and float therapy.
At any given time, some of those franchise brands can be in a rapid growth phase, some can be setting up a slow growth model for the long haul and some can be stagnant, but stable. Each business phase can be good or bad for different reasons, but a little research can help gauge the suitability and maintain the way forward in your final decision making process.
How do you know which fitness franchise is right for you?
Some questions that you need to think about could include:-
- Can fast growing brands keep up with field support and systems?
- Will slow growing brands have the resources to assist in growing your business?
- Are the stagnant brands comfortable with their level or are they not growing for a reason?
There certainly is no right or wrong, however it is worth getting an understanding before you commit yourself!
When you do your Googling and find various models offering a franchise, they may all have buzz words that look similar. What’s important for you, is to try out the different concepts as a ‘short term member’ and see if the model has the signs of what you are looking for.
If you love Pilates, try a Pilates franchise or if you love group exercise, try out a few different group fitness offerings. If your passion is in bodybuilding, focus your attention on the big box gyms or the boutique studios that cater to that niche market.
Franchisors will have information evenings, whether in person or over Zoom. Follow their social media platforms to see what their ‘vibe’ and engagement is like and importantly, speak with current franchisees and different Head Office staff. This will help you to gauge whether you are in alignment with the brand.
Of course, logistics such as capital investment, available territories and expected ROI are going to come into play, but if you aren’t aligned with the brand and the concept doesn’t excite you – it’s probably not going to be the right fit. Starting out as a franchisee is a big commitment, so you need to have fire in the belly to push through the first tough twelve months!
What are the next steps to exploring a fitness franchise?
Going down the franchise route is a major step for any fitness professional or entrepreneur and it’s hugely exciting. Any communication, interaction or hands on experience you can tap into is all part of your research and due diligence and can help you gain an insight into each fitness franchise model. This can be incredibly valuable knowledge in helping you come to decide what your next move will be.
In summary, here are 6 tips on helping you select the right fitness franchise:
1. Try out various brands as a customer.
2. Understand what phase the business is in.
3. Follow their communication platforms to fuel your interest.
4. Ensure you are personally aligned to the brand.
5. Ensure you have the necessary funding to start the business and enough cash in the bank until it is profitable.
6. Request to visit the head office and meet with the team.
Good luck in your due diligence phase and if you get it right with a great franchisee/franchisor relationship, everyone wins, which is the name of the game.
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