Franchises of Today Beneficial in the Long Run?

Franchises of Today Beneficial in the Long Run?

Turning your fitness experience into a business opens a number of opportunities. However, starting a gym by yourself can hinder various factors most importantly, the monetary benefits. The majority of the people think of buying a franchise as a shortcut to success.

Until recently, franchises are commonly related to lucrative and viable venture. It is estimated that franchised businesses has generated jobs for more than 18 million Americans and account for approximately 10 percent of private sector output in the United States.

Buying a fitness franchise has its own rewards when compared to an independent gym facility.

Reduce rate of failure:

When you buy a franchise, you are actually buying an established concept that has already been successful. Statistics reveal that franchisees provide a much better chance of success as compared to independent businesses. There is a 70 to 80 percent chance of independent businesses of not surviving in the first few critical years of the venture while franchisees have almost 80 to 90 percent chance of surviving.

Enhances the buying power:

The franchisees will benefit from the collective buying power of the parent company. This is because the franchiser can buy in a bulk and pass the savings to franchisees. The supplies and inventory will cost less if you are of course not running an independent business. A licensing fee is required along with fees that include payment on the revenues earned and for cooperative advertising.

The continuous help:

You get adequate assistance right from the start of your business and beyond. Equipment’s, supplies, instruction all that are essential to start the business can be acquired easily. Not only this, you get on-going training, help with marketing and management. This undoubtedly can help your franchise reap the benefit of the parent company’s marketing strategies and their renowned reputation in the market.Franchise enterprises also provide extensive training and support to their franchisees with an aim to help them succeed. At times, products and services are advertised at a local and national level by the main franchise companies. This particular practice helps to boost sales for all franchisees.

A stress-free set-up work:

You will likely receive business plans, procedures, policies and rules all ready-made from the franchiser. A large part of your installation and initial setup work are therefore done when you open a gym franchise. In most of the cases, the franchiser chooses the location, provide the required equipment’s and set the gym for you. They are even responsible for preparing different manuals and tutorials related to the gym. As the materials are all set, your job is simply to supply it to the staff. Additionally, your future customers will choose your gym solely on the basis of its brand name.

Monetary benefits:

The success percentage is undoubtedly higher since a proven business formula is already in place. The business operations, its products and services have already been established. As there is a lesser risk of repayment default, bankers usually agree to give loan by looking at the successful franchise chain. Moreover, the brand awareness and corporate image are already recognized.

Marketing:

When it comes to marketing advice and assistance, a franchiser is the best person. Cooperative advertising actually benefits all locations in an area as well as the franchiser. The marketing strategy is established and tested by the franchiser. You may not be an expert in marketing and may not have the ability to implement an effective marketing program so why not take the help of an expert. It is quite difficult for a person with no fitness knowledge and experience to establish and operate a new gym successfully.

Although you get assistance with all business decisions, do your due diligence and homework. Acquire knowledge and do not blindly follow what others say. You should know what you are supposed to.

Posted by George Daniels on Wednesday October 23 2013, 3:52 AM EST. All trademarks acknowledged. Filed under Health. Comments and Trackbacks closed. Follow responses: RSS 2.0