What are the advantages of franchising in the fitness industry?

When starting a fitness business, it’s impossible to avoid the welcoming opportunity of franchising with an already established brand. Ready to roll business plans, existing brand identity, a loyal customer base and a strong start in the market are all genuine reasons why franchises hugely appeal to new entrepreneurs. 

The advantages are endless, especially for first time business owners, so as long as you deeply believe in the mission, purpose and daily operations of your chosen franchise, and are ready to share your profits (anything from 5 – 20%) with the parent company, then franchising in the UK fitness industry could be a huge opportunity for you. 

What To Know About Franchising a Gym

Franchising is a business model in which a company (the franchisor) grants permission to another party (the franchisee) to use its business model and brand name in exchange for a fee. This can be a great way to start a business, as it allows you to tap into the franchisor’s experience and resources. 

The fitness industry is a popular choice for franchising, as there is a high demand for fitness services. There are many different types of fitness franchises available, from gym franchises, to personal training businesses, to disruptive concepts like biolabs and EMS fitness franchises. 

The Key Advantages of Owning a Franchise Gym

There are many advantages to owning a franchise gym. Some of the key advantages include:

1. A proven business model: Franchisors have already developed a successful business model, which you can use as a foundation for your own business. This can save you a lot of time and money, as you won’t have to start from scratch.
2. Brand recognition: Franchisors have already built up a strong brand name, which you can use to attract customers. This can be a major advantage, as it can be difficult to build up a strong brand name from scratch.
3. Support from the franchisor: Franchisors typically provide support to their franchisees, including training, marketing, and other resources. This can be a great help, especially if you are new to the business world.
4. Access to economies of scale: Franchisors can often negotiate discounts on supplies and other costs, which can save you money.

Consider the Downsides of Owning a Franchise Gym

While there are many advantages to owning a franchise gym, there are also some downsides to consider. Some of the key downsides include:

1. Fees: You will have to pay fees to the franchisor, which can be a significant cost and varies from franchise to franchise. Some common fees include:
2. Initial franchise fee: This is a one-time fee that you pay to the franchisor for the right to use their name and business model.
3. Royalty fee: This is a percentage of your gross sales that you pay to the franchisor on a regular basis.
4. Advertising fee: This is a fee that you pay to the franchisor to help fund their advertising campaigns.
5. Training fee: This is a fee that you pay to the franchisor to cover the cost of training you on how to run your franchise.
6. Other fees: There may be other fees that you have to pay, such as site selection fees, leasehold improvements, and equipment costs.
7. Restrictions: Franchisors typically have a lot of control over their franchisees, which can limit your freedom.
8. Competition: There are many fitness franchises out there, so you will have to compete with other businesses for customers.

Conclusion

There are pros and cons of franchising. Owning a franchise gym can be a great way to start a business in the fitness industry. However, it’s important to weigh the advantages and disadvantages before making a decision. If you’re looking for a business model that offers a proven track record, brand recognition, and support from the franchisor, then franchising may be a good option for you. However, if you’re looking for a business that offers more freedom and flexibility, then you may want to consider starting your own business from scratch. 

At XBody, we offer the support of a franchise with absolutely no fees or profit shares. Open your XBody Studio or create your own brand with our full support. Thanks to our market leading EMS technology, we can help you build a progressive, professional and profitable business model that gives you the lifestyle you desire while you change thousands of lives through fitness and wellness. Get in touch to unlock the fitness business you’ve been dreaming about.