Team Training, Life Changing

Franchise Growth and Expansion

May 23, 2019, 10:30:00 AM

 

F45 Training is the world’s fastest-growing fitness network for many reasons, including cutting-edge programming, expert coaching, the latest technology and incredible people. All of these things come together to deliver an experience that doesn’t just produce results, but has members looking forward to every workout and wanting to tell everyone they know how amazing it all is.

If you’re looking to grow your franchise, ensuring a consistently high-quality member experience is the best way to do it. However, if you’re really looking to take things to the next level, there are some things to consider before you start thinking about new locations and opportunities. In this article, we discuss how to ensure that your business is primed for growth, as exemplified by F45’s expansion into universities.

Make sure your base remains strong.

With the excitement that comes with expansion and new beginnings, it's easy to start paying less attention to your original studio and members. Make sure that the right people remain in your initial business and that you’ve created a community and culture that is strong and sustainable; by doing so, you’ll be able to focus on new opportunities for growth.

It can be tempting to shift your best people into a new location or market to ensure early momentum, but doing this can negatively impact your core business and take them away from where they are most effective. You might actually need to invest more time and energy into your first business (often into staffing and training) before looking for chances elsewhere.

Once you’re confident that your base franchise is viable and running smoothly, you can think about expanding without worrying about jeopardizing an already successful business. 

Keep your mind on the money.

Be aware that growth comes with an additional cost. Taking your business to a new market might require a different approach and strategy, and you may need additional funds for marketing.

A new location could take even longer to get off the ground than your first business. Having emergency funds in place to cover a slow start or unforeseen expenses is important, especially as you work to understand your new business and its challenges.

Also, remember that learning flows both ways. Not only should you be looking to apply your previous learnings to new locations and opportunities, but be aware that new learnings and insights can be used to strengthen your business.

F45’s Collegiate Network

F45 is poised to make a huge difference in the university market by helping students create healthy behaviors and habits at a key point in their lives. It’s a market that’s also tailor-made for the F45 model. This demographic remains more active and health-conscious than most, and while traditional ways of exercise can become boring, the dynamic nature of F45 sessions keeps students’ limited attention spans stimulated.

University students are extremely busy—between studies, work, and social life, time is often in short supply. The short, effective 45-minute workouts make getting regular exercise easier, and the team training aspect creates a fun and social community. F45 is a great way for students to have fun with their friends and meet new ones. We always recommend that you play an active role in your local community as a franchisee, and colleges and universities are an integral part of this.

Stay nimble.

Just like the world of fitness, franchising is always evolving. By staying on the edge of new trends and developments, you’ll be able to spot opportunities for growth before they become mainstream.

Keep your eye on F45 Training network news and keep in touch with your fellow franchisees. By using all of the resources available to you, it’s not really a question of if  your business will grow, but when.

Source: The Boss. Photo: Franconnect

 

 

F45 Training is a global fitness training community specializing in innovative, high intensity group workouts which are fast, fun and proven to get rapid results for members. F45’s popular training method, together with its highly systemized business model has seen this fitness phenomenon explode across the globe.

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