The best franchise gyms present a major opportunity to turn your passion into profit. These franchise companies require a sizable initial investment. However, potential investors would receive a proven business model and plan for operating the business. Many franchisees are able to meet and exceed the profit margins with these types of gyms. Of course, the operations of the gym have a direct impact on the overall profitability. As a potential gym franchise owner, you should have a strong understanding of what makes a gym profitable. Keep reading to learn how the best franchise gyms to own operate profitably.
Profitable franchise gyms offer retail sales in addition to various workout services. Products include items such as smoothies and meal replacements that will help your members achieve their fitness goals quicker. Another great retail product to sell is franchise branded apparel. This serves as an additional revenue stream and a way to advertise your business for free. Next, supplements are also a great product to sell, as your employees should be knowledgeable enough about them to assist in their sales. Surely, adding some retail products to your gym is a great way to operate.
Group Workouts And Classes
Next, the best franchise gyms operate group workouts and classes. These workout classes create a sense of community between members, as well as between your trainers/teachers and their clients. Many franchises offering such classes operate them on a tight schedule. This could mean 30, 45, or 60-minute class sessions. Of course, the social experience and routine workouts attract new members while keeping existing ones engaged. Especially, as members build friendships and relationships, the best gym franchises continue to upgrade their class experience to maintain a strong customer base.
Many of the best operated franchise gyms also offer one-on-one personal training. A service like this provides additional coaching and motivation. For those members who need it, personal training will aid in their retention. Less experienced members will also learn a great deal from one-on-one interactions with a salaried personal trainer. In addition, many gyms offer this type of training in packages containing many sessions. This accentuates the business’s profitability as well as member engagement. Offering one-on-one training will heavily increase your gym’s profitability.
One of the best ways to operate a franchise gym profitably is to have flexible hours. In fact, the most successful ones are open 24 hours a day, seven days a week. This will allow you to attain members you otherwise would not. There are many people who like to work out before starting their workday, and therefore would not be able to work out at most gyms. A 24/7 gym offers convenience and flexibility to its members by allowing them to work out however early or late they want. However, this requires a good security system that can allow member enter the facility even while the gym is understaffed. Some successful gyms use access card systems to address this concern. Of course, this investment will return dividends, as members enjoy the consistent ability to work out despite the hour of day or night. Keeping your gym open as many hours as possible is definitely one of the best ways to maximize your gym’s profits.
Combat Sports Training
The final way to maximize your franchise gym’s profits is to offer training in combat sports. This can take the form of mixed martial arts or kickboxing. Many members will jump at the chance to learn these skills, as they will keep them safe in all areas of life. It also provides a fun way of challenging their bodies and minds. This will attract members who wouldn’t respond as well to more traditional workouts. Also, these types of workouts are usually done in group classes or one-on-one training, so the social experience aspect is also present. As a result, incorporating combat sports into your gym is a great way to operate for profit.
There are many great ways to operate franchise gyms profitably. One such way is to offer retail products to your members, so you have an additional revenue stream. Another is to offer group workouts and classes, in order to build a great social experience. Third, offering one-on-one personal training is a great way to keep your members working towards their fitness goals. Next, keeping your gym open 24/7 will allow you to acquire members who work out in the wee hours. Finally, offering combat sports such as boxing and various martial arts will give your members peace of mind resulting from self-defense knowledge. Consider the methods described above when deciding on ways to operate your franchise gym profitably.