When you become the proud owner of a fitness franchise, you’re entering into a largely popular and growing industry. Hopefully, you are also joining a company that has a well-thought-out business model and ethics to support their company values. As a new business owner who is just being introduced to this way of life, there’s a lot to be aware of and familiarize yourself with. Whether it's hiring the proper staff or getting to know your business model front to back, you have a lot to learn! Although you may take some time to settle into your new routine, we know that you can accomplish great things when you put your mind to it. We have compiled a list of things we feel will be beneficial to you during this transition. Here are a few things to remember and a few things to avoid during your venture into a new fitness business.
Remember: Financial Minimums and Financing Options
It goes without saying that your number-one priority when investing in any franchise is your current financial situation. Ask yourself if you have the means to make this new business happen. If the answer is no, does your franchisor have the ability to point you in the right direction to receive financing? It's important to get to know your options and understand the full scope of the investment you are making.
Avoid: Hiring the Wrong Team Members
You want to begin this new venture by investing in not only your team, but the right team. In order to start running your studio as efficiently as possible from day one, it's important that each person working at your studio (from the personal trainers to the receptionist) is not only passionate about F45, but also qualified for his or her role. You might also see owning a franchise as an opportunity to hire friends or relatives to work with you, but sometimes that may backfire. We encourage you to seek out the right team members based on their experience, qualifications, and cultural fit for your studio.
Remember: Lean Into Your System of Operations
Once you have your team in place, setting up your company operations and processes is vital to your success. Your franchisor likely has a scalable business model that they have given to you as a franchisee in their network. It's important to remember to lean into the system of operations that was built for you, not shy away from it.
Think of this as a guide towards a successful business and potential expansion into the fitness industry. Trusting this system of operations can be hugely beneficial to you. Not only will the guide help you to run an effective gym, but your employees and members will benefit from your attention to detail and care.
Remember: Your Why
It can be easy to get down on ourselves after a few grueling weeks of setting up a new business. Long nights, chaotic days and endless errands may be your current situation, but remember this: you can accomplish anything you put your mind to.
We encourage you to remember your why. Why did you decide to go into the fitness industry? What fueled your fire to build a business in this industry? Is it because you can (and will) change people's lives? Are you looking to leave your community a better place than you found it? Or are you looking to hustle day in and day out?
No matter what the answers are, remember your reasons for getting started. Your franchisor will be there for support along the way, but you have to look inward and reflect upon your motivation and reason for becoming a fitness franchise owner. Only then will you find the little push you needed to keep going. A Guide for Fitness Franchise Owners