The concept of family has evolved dramatically over the past few decades. Today, many couples are raising children while both parents work full-time jobs. As a result, more and more families are exploring ways to make time for quality family time without sacrificing their careers. One of the most popular trending businesses are fitness franchises. Investing in a fitness franchise allows prospective business owners to balance their lifestyle and financial goals, while spending more time with their family.
For those considering investing in a fitness franchise, the International Franchise Professionals Group (IFPG) is the leading resource for sound advice. With more than 1,300 members from franchisors, franchise consultants and vendors, the IFPG is dedicated to not only helping franchisees evaluate their options, but also creating a family-like environment. In this article, we’ll address some of the most commonly asked questions about the best fitness franchises for families.
What are the Benefits of Investing in a Fitness Franchise?
Investing in a fitness franchise is a great way to build strong financial security, while potentially freeing up more family time. Fitness franchises are becoming increasingly popular as a business model due to their easy entry into the market. With relatively low start-up costs, franchising provides a great way to become an entrepreneur without taking on a massive financial burden from the beginning.
Fitness franchise brands are also more likely to succeed than independent ones. This is often attributed to the power of franchising—the partnership between franchisors and franchisees that provides marketing, training, and support from the franchisor. This support makes franchising a more attractive option for family-minded entrepreneurs.
What Type of Fitness Franchise is Best for Families?
Before investing in a fitness franchise, it’s important for prospective business owners to understand the different types of fitness franchises available. Some of the most popular types of fitness franchises include gyms, yoga studios, dance studios, traditional martial arts facilities, and outdoor boot camps.
The type of fitness franchise that is best for families depends on their individual circumstances. In general, a fitness franchise with low start-up costs, low investment risk, and a proven track record are the best choices for family owners. Another factor to consider when choosing a fitness franchise is the franchise’s growth forecast. The best way to evaluate a fitness franchise’s growth potential is to look at the franchisor’s track record of success in that industry.
How Can the IFPG Help Franchisees Find the Right Fitness Franchise?
The IFPG is a membership-based franchise consulting network with a purpose-driven mission of integrity, ethics and collaboration. Our experienced advisor team is here to help those considering a franchise business find the right fit for their family. Our advisors will assess your lifestyle needs and helping you evaluate the best franchises for your situation.
The IFPG also provides comprehensive training and support programs tailored to the success of the franchisee. Franchisors, consultants, and vendors are all part of our supportive network. We are dedicated to providing guidance for success from every angle to ensure a successful venture.
What to Expect from the Franchise Consulting Process
The IFPG’s consulting process focuses heavily on education and understanding. At the beginning of the process, our advisors focus on getting to know you—your lifestyle needs, financial goals, and overall objectives for your business. This helps us determine the best franchise for your situation and which brands you should investigate further.
Once you identify the best franchise for you, your advisor will guide you through the process of evaluating the brand’s background and performance, and understanding the legal framework involved with buying a franchise. They will also provide valuable resources for entrepreneurs such as a full business plan, startups costs, financial operations, and more.