How to Grow With a Fitness Franchise
The fitness industry is booming, and in these tough economic times, it appears to be recession-proof. We continue to see an increase in the number of fitness centers and an increase in the number of people joining these fitness centers. Americans are becoming more and more concerned with improving their health and their bodies, which is helping the fitness industry see a surge in their growth when many businesses are declining. Now is the perfect time to start a business in the fitness industry because of the baby boomers. This group represents a high percentage of the current US population, and they want to find the best ways to age gracefully. They are actively searching for ways to fight the clock to stay healthy and physically fit.
Let's look at the facts
According to their 2010-2011 forecasts, the Bureau of Labor Statistics predicts that from 2008-18 the employment of fitness workers is expected to grow by 29%. This is much quicker than many other occupations.
The United States Department of Commerce reports that there is about 31,000 fitness centers and health clubs in the US, and franchises represent about 65% or 20,000 of them.
From 2009 to 2010 the number of new franchisees in fitness companies that were franchising less than five years grew over 120% .
These statistics show us the growth in the fitness industry and most importantly, the rise of the fitness franchise. The increased popularity of these businesses is only expected to increase more and more over the next few years, making it a wise business choice.
Know your target market
Probably one of the largest reasons in the present and future growth of the fitness industry is that adults aged 55 and older currently make up approximately 25% of health and fitness club members in the US. From 1998 to 2005, the number of fitness club members aged 55 and older grew by 33%, while those in the 35 to 54 year-old age range showed a 13% gain and the 18- to 34-year-old group showed no change. The fact that our population continues to age, can only prove that more and more people to join fitness clubs. In order to benefit from this rise in members, we need to know where to focus our attention and tailor our fitness centers to meet their needs.
The fitness industry appeals to a large and growing market that is changing everyday. It appears to be the perfect time and the right market to open your own fitness franchise. The key to a opening a successful fitness franchise is to do your research and be able to adapt to all the new technology and customer needs. With so many different types of fitness franchises out there, you should select the one that is the best fit for you. You need to feel comfortable with all of their rules and regulations. As all franchises are different and have different requirements, this may take awhile. However, it is in your best interest to look into multiple fitness franchises and understand every minute detail of what the franchisor expects to help your fitness franchise grow and become a success.