Author: Suzanne Robb The decision to purchase a new franchise is a big one. That’s why we designed the Alloy franchise buyer’s guide to help you with the decision to become a fitness business owner. While the fitness industry is a particularly promising place to be, what with all of the recent growth the niche has seen, choosing the right fitness franchise can be tough. After all, there are so many options out there – how do you know which one’s features and benefits are right for you?
A proprietary document designed to educate and inform our franchise owners, our fitness franchise buyer’s guide tells you everything you need to know about the ins and outs of purchasing an Alloy franchise, and why you’d want to take the leap.
Here’s what you need to know.
Why Own a Fitness Business?
The global fitness industry is one of the fastest-growing segments in the world. According to IHRSA, the global health club industry generated $87.2 billion last year and has been on an upward growth trend every year since 2008.
Today, there are:
- 201,000 health club facilities around the world
- 174 million members worldwide
This represents an uptick of 20 million members since 2017, which indicates very strong industry growth,
As we lay out in our franchise brochure:
The Health Club Industry Active Aging Report, researched and written by Ray Algar of Oxygen Consulting, shares opportunities created by an aging population, that dismisses negative stereotypes about older adults and brings light to how a variety of health and fitness organizations are already taking advantage of this changing demographic. According to Ray’s report, country populations are aging at a faster rate. Studies from the United States show that most older people are able to complete activities of daily living, such as dressing, eating, walking, and bathing. The number of people aged 85-89 who were classified as disabled fell from 22% to 12% from 1984 to 2004. Even more so, people over 95, the rate declined from 52% to 31%. This goes to say, older people can maintain their independence and long-term fitness, and the fitness industry has a huge role in making that a possibility with active aging fitness.
While every health club and fitness program excels at something, Alloy has made a name for itself by filling a gap in the fitness space. While most gyms target 20-somethings, we cater specifically to the “active aging” population – meaning consumers ages 50 and older.
Our Philosophy on Personal Training
One of the first things our franchise guide does is educate new franchise owners on our philosophy about personal training. Specifically that we believe effective personal training systems deliver real results tailored to each body.
Here at Alloy, we initially developed our personal training system in 1992. From the beginning, it relied on a simple idea. No two people are the same, and clients meet their goals faster when they’re treated as individuals.
Over the years since then, we’ve remained faithful to our initial vision. Today, we’re proud to offer some of the most effective personal training programs in the world, and we have no intention of slowing down any time soon.
The Onboarding Process: Before Franchisees Become Franchisees
One of the things that set us apart from other franchise opportunities in the industry is our philosophy on franchisee support. We want to set franchise owners up for success, so we put a great deal of time and attention into the onboarding process. Before you purchase your Alloy franchise, we’ll recommend that you consider the following:
- How much money do you have to invest?
- How much money can you afford to lose?
- Are you purchasing the franchise alone or with partners?
- Do you need financing? If so, where is it coming from?
- What’s your credit rating/credit score?
- Do you have savings or additional income to live on while you start your business?
- Does the franchise require technical experience or specialized training or education?
- What unique skill set can you bring to a business, and, specifically, to this business?
- What experience do you have as a business owner or manager
- Would you like to own several outlets?
- And more
Considering these questions carefully from the outset helps ensure ongoing satisfaction for both the franchise owner and their clients. After all, a significant portion of running a great operation is planning well, and these questions keep you making intelligent, purposeful decisions.
The Cost Profile of Running a Franchise
One of the most significant elements of our franchise document is the cost breakdown. Understandably, people want to know how much they can expect to spend on their new franchise investment. While we won’t go into detail about it here, we break down things like the following in the handbook:
- Continuing royalty payments
- Advertising payments, both to local and national advertising funds
- Grand opening or other initial business promotions
- Business or operating licenses
- Product or service supply costs
- Real estate and leasehold improvements
- Discretionary equipment, such as a computer system or a security system
- Legal fees
- Financial and accounting advice
- The prices of compliance with local ordinances, such as zoning, and waste removal
- Health insurance
- Employee salaries and benefits
Is Alloy Right for You?
There are dozens of fitness franchise opportunities out there, and choosing the right one can feel like a real task. Here at Alloy, we understand that, and we want to make the process as easy as possible for you.
That’s one of the reasons we’ve created our Fitness Franchise Buyer’s Guide. If you decide to move forward and become part of the Alloy family, this document will serve as the one-stop-shop for all your franchise knowledge, questions, and guidelines.
Of course, if you have additional questions, our team is always here to help. Talk to a real, live person anytime you want to an email server each of your questions is answered comprehensively. Your happiness is our top priority, and we’re here for you every step of the way.
Ready to learn more about Alloy? Request your free information packet today.