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18: Buying A Fitness Franchise: 5 Things To Consider

18: Buying A Fitness Franchise: 5 Things To Consider

FromAlloy Personal Training Business


18: Buying A Fitness Franchise: 5 Things To Consider

FromAlloy Personal Training Business

ratings:
Length:
27 minutes
Released:
Jan 8, 2020
Format:
Podcast episode

Description

In this episode, we discuss the five things you should consider when considering buying a fitness franchise.Franchising is hot right now. It's a great investment opportunity; it gives you a better return on investment as an entrepreneur. If you go to sell, if you're an independent operator, it gives you systems and a massive shortcut to success.Nonetheless, you’ve got to put the work in and run the systems. It's one thing to have them create it, but you still have to be an entrepreneur.We felt like it's a better vehicle for our potential or our core customer, and ultimately, a better vehicle for their core customer.How about the pricing? What's your investment for a franchise versus starting on your own? And the sustainability and longevity? What is the level of support that you're going to receive ultimately? Those are important questions to consider.The franchisee-to-franchise alignment and financials are other vital considerations when you are mulling over buying a fitness franchise. Stay tuned to know more.Key Points of Discussion:Pricing: The upfront fee (franchise fee) and the ongoing fee (4:13)There are franchises that do a flat fee (5:27)With low barrier to entry and price per month, don't expect lots of support (9:36)Sustainability and longevity: You need to look at overall market conditions (13:12)Make sure there's some history there, that the scalability is proven out (16:40)Level of support you're going to receive could make or break you (17:03)Make sure the franchise fee threshold is enough to get you training (17:27)Franchisees to franchise business coach ratio - the less, the better (20:09)You can't take the personal out of business relationships (20:24)Your core values: Do they align with the master franchise? (23:15)The financials: Ask for an Item 19 if they don't have that (24:08)How soon will you get a return on your investment? (25:18)---------Additional Resources:Learn About The Alloy Franchise Opportunity---------You can find the podcast on Apple, Google, Spotify, Stitcher, or wherever you listen to podcasts.If you haven’t already, please rate and review the podcast on Apple Podcasts!
Released:
Jan 8, 2020
Format:
Podcast episode

Titles in the series (100)

Are you ready to take your fitness business to the next level? Be sure to visit us at: http://bit.ly/alloy_franchise Listen in for secrets and tips on running a successful Personal Training business. From marketing, staff management, trends, programming, pricing, and many other subjects in between, speaker and award-winning fitness industry legend Rick Mayo, founder of the Alloy Personal Training Franchise, covers it all.