Franchise Business Opportunities
Is franchising the best business opportunity for you? Here are some quick facts about franchising so you can decide if this is the route you want to take on your way to entrepreneurship and the career path you desire.
Franchising Vs. Starting your own business from scratch
Starting a business from nothing can be very challenging. The percentage of new businesses that fail are extremely high. The primary reason for this is lack of experience. Knowing what to expect and being prepared for the best and worst can ultimately dictate your success. Franchising allows you to own your own business but the plan for success is laid out in front of you. A good franchise will provide you every single detail about starting and successfully running the business. As long as you follow the plan, you can have success.
What Franchise is right for me?
There are many different franchise opportunities out there in multiple industry sectors. You should look at all factors in order to decide which one best suits your needs. Do you enjoy the restaurant industry? Do you prefer to do something that gives back to the community? How many hours per week do you want to dedicate to your business? All these are questions you should ask. Our biggest recommendation is that you enter an industry that interests you. For example, if you love health and fitness, perhaps owning a gym may be the route to go.
How much can a franchise cost?
A Franchise can range between $15K and over $200K, as is the case with well known fast food franchises. This is usually for the initial franchise fee alone. The cost to build out, equipment, and every nut and bolt that goes into your business is usually not included in the franchise fee. In addition there are monthly royalties that are commonly a percentage of sales that could vary from 2% to as high as 20%, though the average is less than 10%.
Another factor you should consider is resell value. If you decide to sell your business, how attractive is it to investors? Investors may ask, how easy or difficult is it to open up this business myself. As pioneers in the health and fitness industry, we at The Zoo Health Club, know that the resell value for gym is pretty high. This is definitely a factor you should consider thoroughly.
We take pride in the franchise opportunity we offer entrepreneurs and investors and welcome you to learn more about us. If you are considering investing in a health club franchise, consider the Zoo Health Club by Clicking here: https://www.zoogym.com/franchise-opportunities.