Are Personal Training Franchises a Good Investment Opportunity for Professionals?
For recently retired professionals looking to stay active and engaged, investing in a personal training franchise may be an attractive opportunity. With more people focusing on wellness, the health and fitness industry continues to thrive. Franchises offer the advantage of well-established branding and access to marketing and operational resources. But, before you take the plunge into investing in a personal training franchise, it’s important to ask some important questions.
At the International Franchise Professional Group (IFPG), our members have answered some of the most frequently asked questions related to popular personal training franchises and starting a successful training business.
What Are Some of the Most Popular Personal Training Franchises?
Some of the most well-known and popular personal training franchises include:
- LA Fitness
- Anytime Fitness
- Snap Fitness
- 9Round Fitness
- Orange Theory Fitness
- Gold’s Gym
These are just a few of the dozens of powerful brands in the space that are making waves and domineering markets.
What Kind of Support Can I Expect With a Franchise?
When you invest in a personal training franchise, you can expect to receive a variety of support services. Each franchise is different, but, in general, you can expect to receive:
- Marketing materials
- Progress checklists
- Weekly inspirations and strategies
- Accounting and payroll services
- Business coaching
- Equipment and supply procurement
- Customer service training
These services can vary from franchise to franchise, however, so it’s important to do your research and ask plenty of questions to make sure you’re signing up for the best support package.
What Are the Costs Involved in Investing in a Franchise Opportunity?
The cost of investing in a franchise varies based on the specific franchise. For many franchises, you can expect to pay a one-time franchise fee, typically between $10,000 and $60,000, along with an ongoing royalty fee. This is a percentage of the franchise’s monthly or quarterly revenue that is paid to the franchisor. You’ll also need to have enough capital to cover the cost of start-up expenses such as equipment, rent, taxes, marketing, staff, etc.
How Do I Choose the Right Personal Training Franchise for Me?
Choosing the right personal training franchise for you comes down to finding the one that best matches your skills and lifestyle. If you’re looking for a low-risk investment opportunity, then an established brand with strong brand recognition may be a good choice. On the other hand, if you’re looking for an opportunity to be creative and innovative, then a newer franchise may be more to your liking.
Regardless of the franchise you choose, it’s important to do your research and ask detailed questions about the franchise’s track record, its fees and royalty structure, and the type of support services they offer.