Fitness Franchise Opportunities: A Lucrative Industry for the Right Individuals

Are you possessed of both a business-oriented mind and a health-oriented heart? If you’re the kind of person who is passionate about helping people improve their health, reduce their stress levels, and live longer, healthier lives, you’re halfway there. If you’re also the kind of person who loves watching your money grow and your business expand, there are a wealth of lucrative health and fitness franchise opportunities for you to choose from.

Fitness Is Big Money

Fitness franchise opportunities come in an enormous variety. For the past several years, the leading success stories have been lean, low-staff operations that offer a wide variety of generic services (AnyTime Fitness, Snap Fitness, Planet Fitness), and specialty operations that focus on a single core audience (Curves) or a single core service (Hot Yoga). The fitness market is so robust that even highly-specific franchises can succeed in the right communities.

Why Franchise When You Could Start Your Own Business?

Simply put, while fitness is a big market, it’s also one that’s rather full of what might politely be called “snake oil.” There are an enormous amount of fitness concepts out there that are less than legitimate, and people have generally been exposed to enough ill-conceived health and fitness concepts that they’re a little leery. That means the brand recognition that comes with an already-successful, pre-marketed concept is often the difference between having your startup derided and having your franchise become highly successful.

Why Fitness When You Could Franchise Into Any Other Industry?

Ideally, as a franchisee, you’re looking for an area you already have a passion for. If you’re the kind of person who keeps up on the latest news on nutrition, martial arts, sports training, or any other fitness-related topic, fitness can be your opportunity to pivot that passion from a hobby to your living. If you’re more interested in what kinds of fantastic flavors you can pack onto a sandwich, there are plenty of those franchises out there as well. You should be picking your franchise because of your passion, not in spite of it.

What Are the Pros and Cons of Fitness Franchising?

  • Con – It Requires Obedience: Any franchise you get into is going to necessitate following a strict business plan — deviate more than is allowed, and you could have your franchise contract rescinded.
  • Con – Fitness is a Volatile Industry: Some fitness concepts, like yoga and high-intensity interval training, take off like wildfire. Others, like tae-bo and step aerobics…not so much.
  • Pro – The Market is Endless: In a country where two-thirds of the adult population is at least ‘moderately overweight’ or worse and even the senior citizens are ever-increasingly-obsessed with looking and feeling ‘right,’ there’s never a dry well in the fitness industry.
  • Pro – It Can Be a Relatively Hands-Off Business: No franchise is ever “set it and forget it,” but a fitness franchise can, if you hire carefully and budget well, be the kind of business that you don’t need to be present every day — or even most days. Especially once you reach the break-even point, hiring managers that can handle the day-to-day and let you focus on the big picture is relatively easy.

Is a fitness franchise right for you? And if so, which one? You may have a pretty good idea if you can answer “yes” to the first question. But once you know you want to get into a fitness franchise, there are literally hundreds of concepts out there to choose from. To receive an objective assessment of your available opportunities, it is wise to work with a franchise consultant. Franchise consultants have work with hundreds of the top brands in fitness and a wide range of other industries. Through a unique and proven consulting process, they can help you decide which franchise is right for you.

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Are You Right for a Home Healthcare Franchise?

There are few business opportunities that are as opportune as home healthcare is at this particular point in history. The Baby Boomers are averaging nearly 60 years of age right now, and every passing year places more and more of them into a position of needing regular, if not continuous, health care. For the right people, a home healthcare franchise is a nearly ideal business — the question to ask yourself is: are you one of ‘the right people’?

The Qualities of a Great Home Healthcare Franchisee

In order to succeed as the owner of a home healthcare franchise, you need to start with all of the basic qualifications of a good generic franchisee. Those include:

  • No Ego: You have to be willing to follow the system even if you think your own ideas are better. Remember, the best reason to buy a franchise instead of starting your business is to have a system that will keep you from making mistakes. Stubborn, willful types may struggle with this idea.
  • Social Skills: Franchising is a combination of marketing, relationship building, continuous communication with the franchisor and other franchisees, and constant communication with your employees and customers. If you don’t have top-tier social savvy, you’ll have to have a lot of dedication and perseverance to make it.
  • Financial Ability: If you don’t have a good sense of money — of how to structure a deal to improve your ROI, how to keep your expenses down, how to hire people that will make you money, and how to balance the need for profit with the longer-term picture, you won’t make it in any franchise.

But those are just the generic qualifications — you also need a special set of skills to be able to succeed in a home healthcare franchise in particular. In particular, you need to have:

  • Hiring Skills: Healthcare isn’t a business that can survive if your caretakers aren’t exceptional. It’s better — far better — to spend a month of interviewing and declining poor caretakers than it is to get to business a month earlier and end up having to replace a string of poor caretakers down the road.
  • Empathy: Somewhat akin to being a landlord or a debt collector, the most effective home healthcare franchise owners are those who are able to put themselves in their clients’ shoes. You will have occasions when a client can’t pay you on time because of their fixed income, or where they will need special accommodations in order to use your services for some period of time. Being able to see those situations from their perspective and adapt to enable everyone to get what they need is a crucial ability for a caregiving business.

If you can follow a system, reach out to your community, deal with money, find the right people, and genuinely feel your clients’ pain when they hit an unexpected obstacle, you’re ready for a home healthcare franchise. The next challenge is finding a franchisor that is ready for you. There are literally dozens of companies in the senior care business, and most are rapidly growing in most areas. To find the right one to fit your skills, passion and budget, it is best to work with an experienced franchise broker. Unlike company recruiters, franchise brokers have access to several of the top franchise opportunities in your area, and can give you objective guidance in finding your ideal business.

 

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Franchise Consulting vs. Sales vs. Brokerage

There’s no single ‘type’ of person who comes to the realization that they’re interested in starting a franchise. There are not even a few categories of such folks — they come in all attitudes, shapes, sizes, and abilities. If you’re talking to the folks who get people into franchises, however, there are exactly three categories: you have the people who do franchise consulting, the ones who do franchise sales, and the ones who do franchise brokerage.

Notice I don’t say “franchise consultants, franchise salespeople, and franchise brokers.” That’s deliberate, because a surprising number of people in this arena manage to completely mis-use those terms. You’ll find people doing franchise consulting but labeled “Franchise Broker,” and so on. So let’s talk about the difference between these activities categories.

Franchise Consulting: Pay Money, Get Tough Love

Franchise consulting is “getting paid by a person to determine whether that person would make a good franchisee and, if so, which franchise their abilities are most appropriate for.” Franchise consultants tend to focus the vast majority of their time and attention on that first part: on assessing their clients’ ability to handle a franchise. If a client of theirs goes into business and fails, they ‘lose face’ (so to speak).

Unfortunately, this creates a harsh dynamic, because they’re incentivized to tell most people that they won’t succeed as franchisees — and the people they say this to are the ones paying their bills. So talking to someone who is consulting with you on your ability to franchise is often like giving someone money to kick your dreams into the gutter.

Franchise Sales: Everything Looks Like a Nail

On the other extreme, you have franchise salespeople. Franchise salespeople will put you in a franchise if you can afford it — because they work for a franchiser, and they get paid for each person they sign up as a franchisee. It doesn’t matter what you did for a living or what you love to do with your life, they have the same suggestion: hand over a pile of money, because being a franchisee for their particular company is great!

Needless to say, if you’ve been a car parts salesman for years, and the franchise recruiter for Subway is selling Subway, they’ll pitch you Subway, end of story. They have no other options, and they have no income if you don’t sign up — so they have no incentive to do anything other than ‘whatever it takes to get you to sign up.’

Franchise Brokerage: Matchmaker

In between the two, combining the best aspects of both, you have the franchise broker. These folks work for large groups — as many as ‘several hundred’ — franchisers, and they get paid by those collectives to match your skills and circumstances to the franchise that you are the most likely to succeed at.

A franchise broker won’t kick your dreams, but they also won’t try to wedge you into a mold that you don’t fit. If you believe that a franchise is in your future, a broker is usually the best person to talk to.

Getting hooked up with a franchise broker is easier than most people think. Franchise City offers free unlimited services from brokers who are under contract with nearly 600 of the top brands across a wide range of industries. Through a unique and proven 20 step process, we help clients find the best franchise business to fit your passion, interests and budget. To get started, go here or fill out our contact form at the bottom of this page.

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