If you’re considering opening a fitness franchise, you have a few options. You can choose a well-developed franchise from a major name or a niche, high-growth franchise brand. While some might assume that the big name franchise is always the better choice, that’s not true. Rick Mayo (Alloy Founder and CEO) shares his thoughts on why high-growth is the better option and how choosing a big name franchise may actually limit your growth potential or restrict where you can do business.
In this blog, we’ll look at the relative benefits and help you decide which franchise opportunity is right for you.
5 Benefits of Choosing a High-Growth Franchise Brand
In the world of franchise ownership, there are usually more benefits to choosing a high-growth franchise brand than there are to working with a well-developed, saturated, big-name brand.
Here’s what you need to know:
1. High-Growth Franchises Offer More Available Territories
While big-name franchises may seem attractive on the surface, many brands are already completely saturated. In the fitness industry, Planet Fitness and other big brands have limited to no available territories. Many aren’t accepting investors as they have no new franchise locations to offer.
This is a severe drawback for a motivated, enthusiastic, would-be franchise owner. When a big-name brand is this saturated, it makes it impossible to get your foot in the door.
On the other hand, high-growth franchises are precisely that: growing businesses actively seeking new franchise owners to establish new locations. This represents an excellent opportunity for anyone who wants to open their own business and capitalize on the opportunity that exists in the fitness industry.
Additionally, high-growth franchises want new franchise owners to succeed. As a result, they’re likely to offer more business support, marketing assistance, and other onboarding help to new franchise owners.
2. High-Growth Franchises Support Better Time Management
Let’s face it: owning a franchise is a big job. Whether you run a single location or you’re a multi-unit franchisee, there are many demands on your time. And while this is an exciting time of opportunity, it can also be exhausting.
Unfortunately, there may not be much relief in sight for franchise owners who opt to work with big-name brands. Big name brands are usually so saturated that there is little assistance with the daily priorities and to-dos new owners must check off daily. The marketing requirements are rigorous and complicated, the fee structures can bleed you dry, and you’re liable to feel overwhelmed by the multitude of distractions and demands on your time.
When you choose a high-growth franchise brand instead, though, things are different. Because high-growth franchises offer a niche model that caters to an exclusive target audience, there’s less of a “wide net” approach to business development and marketing that big brands must adopt.
As a franchise owner, this allows you to eliminate lots of the to-dos and focus only on the deliverables that will help your business grow. It also allows you to maintain your work-life balance and discover a time management strategy that works for you.
3. High-Growth Franchises Offer More Accessible Fee structures
With a big name comes a hefty price tag. Unfortunately for would-be franchise owners, opening a new big-name franchise location will cost you. In many cases, the initial startup investment for these franchises can range from $937k to $4.6 million.
You are not alone if that gives you a bit of sticker shock. Simply put, these prices are out of reach for most entrepreneurs, making accessing those big-name brands impossible – unless you want to go bankrupt in the process.
On the other hand, working with a high-growth franchise is significantly more accessible. For example, Alloy’s initial franchise fee is just six figures, with a total initial investment of about $363,633 or lower. This makes opening a new franchise much more accessible for everyday entrepreneurs and allows you to grow a business without putting everything you have on the line.
4. High-Growth Franchises Offer A More Boutique Experience
Regarding the customer experience, you can count on high-growth franchises to prioritize it.
While big-box gyms take a broad net approach and high membership numbers, high-growth franchises like Alloy focus on specific customer niches and smaller membership numbers. In Alloy’s case, that’s the “Active Aging” community of gym-goers over 55.
This boutique approach allows everything from your marketing and outreach to your personal training programming to be more customized, user-focused, and authentic.
5. High-Growth Franchises Offer All The Support And Systems Without All The Red Tape
One of the most significant benefits of becoming a franchise owner is support. Opening a new franchise location allows you to capitalize on name-brand recognition, proven systems and processes, and marketing support that you just don’t get when you bootstrap a company or start one from scratch.
And while all franchises offer support and systems, you can think of big name franchises as the equivalent of working for a major company. Sure, the support is there, but it risks being impersonal and feeling decidedly one-size-fits-all.
When you work with a high-growth franchise you’ll work with dedicated teams that actually care about you, your location, and your success. This translates into a more personalized support experience and an easier launch process.
Alloy: One of the Top High-Growth Franchises for 2022 and Beyond
When choosing a franchise, it can be tempting to gravitate toward big-name opportunities. Unfortunately, those companies often lack where user experience and personalization are concerned. In the worst-case scenario, they may be so over-saturated that you can’t even get your foot in the door.
That’s where high-growth franchise opportunities come in. Companies like Alloy are actively seeking new franchise owners and looking to expand into new territories. High-growth franchises also prioritize franchisee support and training and offer a more personalized experience for customers.
If you’re interested in opening your own franchise location, now is a great time to learn about the Alloy opportunity. Click here to get your FREE franchise information kit.
Article by: Rick Mayo
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