If you know F45 Training at all, you know that we’re passionate about fitness—but we’re also nuts about business and franchising in particular. So, we decided to take a look at which franchise trends will be big and making news in the new year. Using a recent study from Entrepreneur Magazine, we’ve shortlisted a few franchise categories to watch in terms of opportunity and growth.
Image: TIME Magazine
As has been the case for the last few years, fitness is a category that is set to go from strength to strength. This is good news for existing and potential F45 franchisees, as well as anyone looking to break into the industry. A trend that seems to be common across a few of the categories predicted to do well is growing support and interest in a variety of health and wellness businesses. People now place an increasing emphasis on longevity, across a range of both developed and new markets.
Look your best, feel your best.
It seems as if beauty franchises are popping up everywhere these days, offering everything from hair care to hair removal, facials, pedicures and a host of other services and products to get people looking and feeling their best. Traditionally, many of these businesses targeted women, but franchises aimed at kids and men are also on the rise. Of course, we think that the best beauty hack is simply being fit and healthy, but we might be a little biased.
Even with people pushing to strike a better balance between time spent at the office and working versus being at home and doing what makes us happy, we are still more time-poor than ever before. This has resulted in the demand for childcare growing at an exponential rate, even in an industry where startup and running costs can quickly become expensive. A number of new players in this space also make it one to watch.
A great start to the day.
While we think the best way to start your day is 45 minutes of high-intensity fun at F45, breakfast should be a big win in terms of franchising in 2020. It’s been called the most important meal of the day for decades, but we're seeing an explosion of coffee shops adding food and pastries to their morning offerings as well as a growing number of breakfast-focused concepts starting to pop up.
Are you not entertained?
We’re always looking for new ways to keep busy and amused, and franchises focusing on recreational activities have done really well over the last few years. Businesses that provide a chance to socialize with friends and loved ones and escape from daily routines are growing in number and support from consumers. It’s something that we watch closely, as a big part of the F45 Training customer experience is ensuring that our members have fun and enjoy each and every session. This applies to the F45 franchise system, too. A big reason why our franchisees love their jobs so much is due to the joy and satisfaction they get from helping members achieve goals. After all, getting fit should be fun!
As people look to new and more holistic ways to stay happy and healthy, health-focused franchises are popping up all over. It’s also another area where traditional offerings are losing ground to more alternative therapies and approaches. Acupuncture, cold and IV-therapy, and herbal medicine have all grown exponentially. Expect more from this corner as we launch our complete health supplement line, F45 Fuel, and add to our other product offerings.
Witness the fitness!
As we said, fitness remains one of the fastest-growing franchise categories, both when it comes to individual businesses and overarching franchisor concepts. The nature of fitness franchising is changing, though, with more traditional concepts slowing in growth and boutique offerings springing up and thriving. Consumers are moving towards more bespoke fitness classes and programming and wanting more when it comes to their fitness experience. Putting in a set of headphones and doing your own thing in an old-school “big-box” gym is losing out to specialized offerings like functional training, rowing, barre and Crossfit. At F45 Training, we will continue to refine our product and customer experience to make the most of this growth and continue to fuel our franchisees' success.
Get juiced in 2020!
Smoothie, juice and açaí franchises will continue to be supported by consumers looking for fresh and fast options. Since these models often come with small footprints, low staff requirements and affordable startup costs, we’re sure that the new year will see many more berry, bowl and juice bars opening their doors.
It’s not an exact science.
We think the categories above are fairly safe bets to perform well over the next fiscal year, but if you’re looking to make a shrewd investment, you’ll need to consider each individual franchise option in any category. As always, we’ll keep updating and refining the F45 franchise system to make sure we remain a smart choice for any prospective fitness franchisee.