Gyms are becoming increasingly popular, with membership numbers increasing worldwide. Gyms are a great place for people to increase their fitness levels, lose weight and enjoy social interactions with other people who share the same interests. Investing in a gym franchise can give you the opportunity to be a part of an ever-growing industry and make a profit whilst providing an essential service.
1. Profitable global industry
Business is booming for the fitness industry and gyms have experienced a surge in demand in recent years. Between 2009 and 2009, the global market size of the health club industry grew from 67.19 billion US dollars to 96.7 US dollars (source: Statistica). This exponential increase is only likely to increase further in the coming years.
By investing in a gym franchise, you have the opportunity to garner a substantial profit as a part of this lucrative industry. This is even truer in the wake of global lockdowns. As COVID-19 restrictions ease across the world, many people are more determined than ever to join a gym and boost their fitness levels. Therefore, with gym membership levels set to increase in the forthcoming months and years, this could be the perfect time to invest in a gym franchise.
2. Straightforward business model
Gyms are a relatively straightforward and simple business to run. You will have only a limited number of areas to focus on within a gym. Of course, there are important health and safety considerations when it comes to the equipment, but overall, running a gym is a fairly straightforward operation.
If you are new to the business world or you have not run or owned a gym before, it is an easy and smooth learning curve. Whether you run a 24-hour gym or a daytime gym, you can employ a handful of staff and delegate the majority of the day-to-day running of the business to them. This frees up your time to use it as you choose. You may want to spend more time with your family or concentrate on some of your other business pursuits. Ultimately, this gives you the chance to enjoy a healthier work/life balance.
3. Gyms provide multiple sources of income
One of the great things about a gym franchise is that you are not limited to a single source of income. While a substantial portion of your revenue may come from memberships, there are also other options such as selling fitness products like protein shakes or wearables and running pay-per-use classes that allow non-members to attend the gym when they want to. Additionally, you can also make money from personal training classes and the sale of weight-loss products that might interest many of your potential members.
4. Provide a worthwhile service
One of the benefits of investing in a gym franchise is that you are also providing benefits to other people. Exercise is a crucial component of physical and mental health, so opening a gym franchise in your local area can offer that opportunity to your community. Working out in a gym can reduce the risk of diseases like cancer, obesity and heart disease. It can also improve life expectancy. Additionally, gym members and people who engage in regular exercise often report improvements in their mental health.
When you invest in a gym franchise, not only are you benefiting yourself in terms of your financial and career situation, but you are also providing benefits to all the people who join your gym. This means that in addition to career satisfaction, you can also attain personal satisfaction in the knowledge that your business is actively helping people.
5. Invest in an established business model
Setting up a start-up can be a risky business. However, a gym franchise is a low-risk business opportunity. You are becoming part of an established and recognised brand that may provide you with an initial customer base right from the very start. This can be extremely advantageous and can provide extra benefits if you are new to the business or fitness world.
What’s more, you will find that opening a gym franchise is a lot smoother than opening a new startup. Some of the main components of opening a business have already been taken care of for you. For example, many franchisors offer training programmes for staff members so you will not have to plan your own training programmes from scratch. Areas such as marketing will also have already been established, making your life substantially easier.
Investing in a fitness franchise can provide an excellent way to be your own boss of a profitable business, embark on a career that you love and help other people achieve their fitness goals too. With the multitude of various gym and fitness franchises that are available, the perfect opportunity may be waiting for you right now.
Gym and Fitness Franchise FAQ
This question very much depends on whether or not you’ll be renting, owning or won’t be needing a premises. However the gym franchise itself, the license and equipment, typically costs up to £50,000. If the franchise requires much more technical equipment like EMS, obviously costs will be higher. Premises fit out and installation will also bump this figure up, potentially towards £250,000 total investment + property costs.
Demand for fitness related centres and gyms is constantly on the rise. Gym franchises even thrived throughout the pandemic despite lockdown, and clearly these gym businesses are not only recession proof but in high demand, therefore profitable.