FRANCHISE BUSINESS OPPORTUNITIES
If you are looking for a franchise business opportunity I am sure you have noticed how abundant they are. But which one is the right one for you? There are many factors you should take into consideration. Some factors may have to do with your personal interest while others are more focused on the dollars and cents. Regardless, we will explores the many factors you should consider when choosing the right type of franchise.
The first thing you need to know is how much money you actually have to invest in a franchise. If you were considering one of the big name quick serve restaurants, just know that they go for over $150K. You must also take into consideration that the franchise fee does not usually include the cost to build out the actually store. This could be another $200K or more. That being said, there are franchises that are a lot less expensive. Health clubs / fitness centers, like the Zoo Health Club are a fraction of the cost of that of a large fast food chain. You can inquire more at the end of this blog.
2. Your personal interests
I am sure you have heard that saying “if you love what you do you’ll never work a day in your life.” These are wise words. You must love what you do, otherwise it’s not worth it. So finding a franchise that actually interests you is key. We see this a lot in the fitness industry. Many of our franchise owners were actually gym members or personal trainers. They love the gym environment and the opportunity to help people reach their fitness and overall health goals. Those that work in a health club, usually find the work to be very rewarding.
3. Revenue Potential
Obviously you are investing in a franchise to make a nice profit. You definitely want to look carefully into the revenue and profit potential. Needless to say many factors can play a role here. Every industry has losers and winners, those that are profitable and not. Revenue and profit vary from location to location even within the same franchise. But ultimately you have to consider the average. For example, in the health club industry we have learned that membership fees alone won’t cut it. For that reason our clubs have multiple revenue streams such as personal training fees, specialty classes, apparel, juice bar, kids club, and additional amenities such as tanning. When you add them all up, you see a healthy profit. Overall, it is an attractive industry to get into.
4. Corporate Support
The whole point behind franchising is that you are relying on experienced professionals to share their knowledge and wisdom in order for you to be successful. Some franchises do a better job at this than others. For this reason, you need to find out exactly what kind of support you will get from the corporate franchise. To give you an idea, At the Zoo Health Club, we provide the most in-depth support you can imagine. From start to finish we give our franchise partners the exact plan for success and help them with finding the right location, negotiating the lease, getting the equipment, training, opening the club, advertising/marketing, and the list goes on. A good franchise understands that for the overall brand to be successful each individual franchise needs to be successful and profitable.
For more information on the exact cost of a Zoo Gym franchise and other details, we ask that you fill out the form below and request a Free Franchise Toolkit for Success. This will tell you everything you need to know so you can make an educated decision on whether this opportunity is right for you.