5 reasons entrepreneurs are diving into fitness franchises
When it comes to a high-value business opportunity, it’s hard to go past the success and security that fitness franchises and studios have established.
The last 10 years has seen a significant shift in the type of training and models that fitness fans are after, but it’s done little to damage the industry. In fact, big box gyms have weathered the evolving consumer demand, and learned to coexist with a new crop of boutique and specialised offerings.
So, while other industries fear an increase in competition, how is it that fitness franchises have been able to not only adapt to the changing conditions but grow?
According to Tim West, co-founder and managing director of fast-growing boxing and strength training franchise 12RND Fitness, the answer is five-fold.
1. ROI (Return On Investment) potential
To qualify this, it is the “boutique fitness” sector of the fitness industry that is experiencing incredible growth and this is down to the strong ROI potential created through the relatively low capital requirements, low break-even point and high average member spend that is driving these returns
2. Business model
The recurring revenue model really sets the fitness industry apart from other retail business models. It is hard to argue with the obvious benefits of the cash flow and stability of this revenue model over the traditional pay as you go businesses.
Whether you are a full-time corporate professional looking for a new career path, or an active investor looking for new opportunities, the lifestyle offered by the fitness industry is an attractive proposition. Being an owner of a fitness business is very different from being a member (in the same way that owning a pub is different from being a patron) but it can be a very rewarding and positive experience on many levels.
As Leonardo DiVinci said, “simplicity is the ultimate sophistication”. When compared to businesses in other industries, most fitness business models will appear relatively simple however this doesn’t mean that they are easy to do well. It is due to this simplicity that the quality of the strategy, systems and execution of these becomes a critical factor in the success of the operation.
5. The satisfaction of changing lives
In fitness, you get the opportunity to work with people from all walks of life going through their own unique journey to reach their goals with how they look and how they feel, and have a direct impact on changing their life for the better. You have the ability help everyday people overcome challenges both mental and physical to transform into better versions of who they were.
The list of fitness franchises in Australia is growing daily. With new models on offer and business taking shape, there can be a lot of confusion in which system suits you best.
To find your ideal model, click here and learn more about Australia’s top fitness franchises.