What You Need to Know Before Starting a Fitness Franchise

One of the most popular examples of a franchise business for sale is a fitness franchise license. A fitness franchise can focus on the general public or may be marketed as focusing on providing fitness opportunities to specific communities of individuals.

The common examples of a fitness franchise which serve the general population are Bally’s Total Fitness, IM=X Pilates, Gold’s Gym, Anytime Fitness, Physicians Direct, Healthy Inspirations, Body Access, LA Weight Loss, and 24 Hour Fitness.

A fitness franchise may be targeted towards specific groups of individuals as well. Sports fitness franchises include i9 Sports, CATZ, and Hit Centers.

A women’s only fitness franchise for sale can include StrollerFit, Curves, It Figures, Jazzercise Inc., Designing Women’s Ladies Workout, Jenny Craig, Ladies’ Workout, Lady of America, Contours Express, or Slender Lady.

Youth-oriented fitness franchise businesses for sale in recent years include StrollerFit, The Little Gym, Kinderdance, and Fun Bus. These fitness franchises have represented a recent outgrowth in the fitness franchise field.

There are four common opportunities for individuals who want to join a fitness franchise targeting older adults, such as Fit after 50, Intrivah, Club 50, and Miracles Fitness.

There are two nutrition based fitness franchises: GNC and The Herb Shop.

However, these are just some of the common fitness franchises. It is important to bear in mind that new fitness franchise opportunities can develop from any independent gym or fitness club if the desire is present.

What You Need to Know Before Starting a Real Estate Franchise

According to the National Association of Realtors, in 2007 almost 45 percent of its members belonged to real estate franchise companies. Of these members of these real estate franchise companies, 80 percent claimed that their affiliation with a real estate franchise made them more readily able to acquire listings. Almost 90 percent of the members of the real estate franchise companies believed that being affiliated with a real estate franchise improved the brand name recognition of the real estate franchise.

Some of the advantages conferred upon a small, independent real estate company by joining a real estate franchise include benefitting from the proven track record of success associated with the larger franchise companies, brand name recognition of the real estate franchise, training and operational support provided by the real estate franchise companies, marketing and advertising support conferred from the franchise companies to the smaller real estate franchise branches, the ability to negotiate better prices from vendors due to the ability to negotiate as a larger group, partnerships to gain better and more affordable access to related vendors such as home inspectors or mortgage lenders, and decreased risk to to being enrolled in larger real estate franchise companies.

How to Buy a Franchise

Once an individual has decided to buy a franchise, he/she must understand the process involved in purchasing a franchise. Before buying a franchise, an individual must determine what type of franchise he/she is interested in. Certain types of franchises will suit certain types of people. There are more than 70 franchise categories, and therefore, an individual will be able to locate a franchise that suits his/her interests.

It is important that an individual dedicate the time necessary to locating a type of franchise that he/she is happy with as he/she will be required to make a large investment in this franchise. An individual can review a franchise directory to find available opportunities within his/her desired category. Once an individual decides what franchise he/she wishes to purchase, he/she can request additional information about the company and the franchise specifications.

Once an individual has reviewed the information provided by the franchiser, he/she should conduct additional research about the company and determine whether or not it is a lasting investment. An individual should meet with a company representative in order to discuss the responsibilities and expectations associated with franchising on the part of both the franchiser and the franchisee.

If an individual still wishes to buy a franchise, he/she must obtain a franchise loan from a bank or lender. Once the necessary funds are obtained to cover the investment cost, an individual will be provided with a franchise agreement, which he/she must sign.

Following a franchise sale, an individual must take all of the steps necessary to operate the store successfully. This includes hiring and training a manager and employees. This is a general guideline for individuals who are considering buying a franchise. However, more detailed information should be reviewed before initiating this process.

How to Develop a Franchise

If an individual has established a successful business, he/she may
want to spread his/her business through franchise development. Franchising a
business is an extensive and grueling process. It can take many years for an
individual to create a successful franchise. A business owner should not expect
to obtain a return on his/her investment within a matter of months, as it can
take a number of years for any notable return to occur.

The first step to franchising a business is establishing a number
of companies with owned and operated stores. If these stores are successful and
the procedures used within these stores are effective, the franchise is more
likely to be successful. Utilizing these stores as models, a business owner
should develop a detailed operations manual and training program.

In order for an individual to develop a franchise, he/she must
create a Franchise Agreement and a Franchise Disclosure Document. Both of these
legal documents are essential to ensuring that the franchise operates
appropriately. An individual should consider hiring a franchise lawyer, who can
help him/her complete and create all necessary documents. He/she should also
trademark a brand name so that he/she has control over the company’s name.

Another important feature of franchise development is marketing
and advertising the available franchise opportunities. In order for a franchise
to be successful, a franchiser must locate potential franchisees to invest in
the franchise.

This is a brief overview of some of the steps involved in franchising
a business. However, this process is detailed and extensive, and therefore, it
is important for an individual to fully understand all aspects of this
process.