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(Tuesday, October 02, 2007) - There are more opportunities in the wellness industry available today than ever before. New fitness, nutrition and wellness franchises are sprouting virtually by the day, and with an unlimited number of business opportunities at your fingertips, making a decision on which path to take can be a daunting one.
After all, as a wellness entrepreneur, what could be better than designing your day the way you want it and exercising on your own time frame? Many entrepreneurs are doing this while simultaneously earning a great living helping countless people realize a better quality of life through fitness and wellness.
To help business opportunity seekers with their search, the Fitness Together Franchise Corporation today released the core components of a quality franchise and legitimate business opportunity that one must consider before getting involved.
"Not all franchises and business opportunities are equal," reports Kevin Betts, President of the Fitness Together Franchise Corporation. "A legitimate business model is built on a solid foundation of proven daily operations, marketing systems, and administrative procedures. Business systems like these require a minimum of at least a few years of successful operation before the business opportunity can be made available for a new entrepreneur to take advantage of."
Betts began his career with Fitness Together 15 years ago as a personal trainer in one of the first studio locations. After leading the location to record levels of service and revenue, Betts quickly rose in the organization to executive status, and was recently named President of Fitness Together, where he was instrumental in their latest achievement of expanding the Fitness Together franchise opportunity into the U.K. and Ireland.
Fitness Together takes steps to ensure that every new entrepreneur fully understands the process of the opportunity and provides an up-to-date Uniform Franchise Offering Circular (UFOC), a document that helps the potential franchisee understand the opportunity in full. Fitness Together also helps the potential owner navigate their way through the substantial paper trail, and, of course, offers advice on what to look for and what to avoid in a fitness franchise. Here are four topics that a new fitness business owner must take into consideration:
1. Business Model: How long has the original business model been in operation? Is the business model built on a solid foundation consisting of proven marketing systems, administrative procedures, and a streamlined daily operations protocol? Does the business model meet your personal business requirements?
2. Location: Site selection is critical. Does the franchiser offer population-based exclusive territories? Does the franchiser have a tendency to sell franchises in close proximity to one another and, if so, are the multiple units operated by the same franchisee or by several different owners? What demographic policies are in place to ensure quality and quantity of clientele?
3. Cost: What is the total investment? Several different types of costs are involved, including the initial franchise fee paid in return for using the franchiser's business concept/system and name for a limited time, ongoing royalty payments for the services and support provided by the franchiser, space rental and leasehold improvements, equipment purchases, working capital required to operate and advertising fees.
4. Training & Support: What is included in the training program offered by the franchiser and will it prepare you to run all aspects of your business efficiently and successfully? Also, what kind of field assistance, ongoing support, and marketing support can you expect from the franchiser? Are the advertising and royalty fees reflected in the quality of support offered? How is the management staff of the location hired and trained? In the fitness business, how are the certified fitness trainers located?
These are some of the topics that should be addressed and fully explained by a quality franchise and business opportunity. Fitness Together suggests doing your due diligence, thoroughly reviewing the Uniform Franchise Offering Circular (UFOC), and ensuring the original business model which the franchise is built upon meets your business goals.
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