We live in changing times—long gone are the days people worked for the same company for years, slowly working their way up the corporate ladder. Modern technology and access to information mean that it’s easier than ever for people to work remotely or even set up and run their own businesses.
However, while being an entrepreneur is an increasingly attractive option for many people, it can come with increased risk when compared to traditional nine-to-fives. One way for budding entrepreneurs to enjoy all the benefits of being their own boss—while minimizing the risks of going it alone—is to look at opening a franchise. Choosing the right franchise means that you can enjoy the independence of owning your own business, while also working with an established brand and track record of success.
This balance between freedom and security has seen the number of franchise options in the market boom—the trick for prospective franchisees is finding an option that will work for them and their individual markets. Franchisees should not only be looking for a business that sparks their passions, but that is also in a growing and sought-after category.
With almost 2,000 studios around the globe, F45 Training has benefited from (and seen first-hand) the continued interest and demand in health and fitness worldwide. Looking at a study by Entrepreneur Magazine and article by 24/7 Wall Street*, it looks like this trend is going to continue.
When it comes to American domestic franchise establishment growth from 2014 to 2019, the top performing options were led by food and fitness. Of course, people love to eat, but with fitness brands leading domestic growth, anyone interested in health and wellness can be sure that it’s a category that’s full of opportunity. In fact, employment for fitness coaches, trainers and instructors is projected to increase by 13% between 2018 and 2028, more than twice the average 5% growth across other occupations.
While big-box gyms continue to grow, it’s in the smaller, boutique-style studios and training systems where F45 Training sees the biggest opportunities. Not only do they often come without the high start-up and running costs of traditional fitness centers, but there is increased demand for the social connection and variety that they offer. F45 Training founder and CEO Rob Deutsch focused the brand on people’s growing desire to connect in the real world, while making fitness accessible and fun at the same time. “I’m trying to get people to actually want to attend a gym and feel like they’re part of something,” said Deutsch last year.
While F45 Training continues to grow around the world and enjoy success in many markets where fitness is a new offering, the fact that the category continues to deliver and perform in already-established markets like the U.S. is something that really inspires us. For example, F45 was just ranked as one of Fast Company's 'Most Innovative Wellness Companies of 2020' for fostering community in our high-intensity functional workouts. As a brand driven by innovation and a hunger to try new things, we’re sure that we’ll continue to stand out and enjoy success in what is sure to be an increasingly competitive industry. We couldn’t be more excited to see what the future will bring.