If you’re considering investing in a gym franchise, you may be wondering if the cost of buying a gym franchise is worth it. Would you be better off starting a gym from scratch and building up your own brand? Or would it be a more prudent investment to buy an existing gym and build on its brand? The answer is that it very much depends on what you want to achieve. But if you want to understand more about the benefits that a proven gym franchise can offer over a start-up, read on.
Of course, there is a cost to open a gym franchise and the cost may vary depending on the kind of franchise you buy. However, what you do get when you buy a franchise is proven systems and support and help with everything from finding a building to the day-to-day running of the business. If get-rich-quick influencers are to be believed, it’s easy to set up a business. But that’s not strictly true. Many start-ups fail within the first year and only 20% of small businesses are still in operation after 5 years. However, according to the International Franchise Association, a massive 92% of franchises make it past the five-year point. So, if you’re looking to grow a business in the long term, a franchise is a great option.
It’s generally down to the success of the brand of the franchisor and the support that they give to the franchisee. Getting a new brand out there is difficult. It involves specialist marketing together with considerable investment and time. According to a survey of failed small businesses carried out by Failory, over a fifth of failed businesses blamed issues with marketing as a reason for their failure. With a franchise, you’re already a household name and you’ll have a team of marketing specialists to get your new venture off the ground and in front of the people that matter – potential members!
For many would-be gym owners, their passion is health and fitness and it’s something they want to share with their members. However, they may not have the business knowledge and experience to run their gym in the most effective way. And that’s where we can help. We provide our franchisees with all the business administration support they need together with a range of tried and tested methods to ensure success in the fitness industry. Our support covers everything from help with finding an appropriate building to finance, insurance and marketing. We can help with staff recruitment and training, OH&S, finding suppliers and getting members through your doors. We’ll also keep you up to speed with new legislation and red tape, so you don’t get left behind or fall foul of the law. In short, we give you the space to spend time with the front end of your business – your members and your offering – and it's all included in the cost of buying a franchise.
If you’d like to know more about a gym franchise with Genesis Health & Fitness, simply download our free informative eBooklet. And when you’re ready to take it further, you can get in touch either by phone or email and we can discuss the cost to open a gym franchise and much, much more.