Fitness gym is a great way to earn and you do not have to be a fitness freak for that. If you are thinking of opening a gym then you would know that it can be done in two ways. One, where you start on your own and the other where you can take a franchise. There are both advantages and disadvantages to this. Opening one on your own means you take all the profits and losses.
A franchise provides business plans, policies and rules but also takes share of the profits with no investment other than their brand name. If you are interested to teach, then you can become a certified trainer and work for a gym. Being a trainer is more flexible and you also have the option of being a personal trainer. In this article, we are going to look at opening a franchise gym and opening one on your own.
Opening a Franchise gym
Choosing to open a franchise brings with it the customer base. It provides all the business plans and procedures making the initial work easy. The franchise owner takes the responsibility for marketing and advertising your gym. They help choose the location, equipment and handle the staff training.
Sometimes, the franchise owner provides all of the above and charges you for it. You do not have to be a trainer to open a franchise gym. It does not require everyday visits to manage and saves you time to focus on other things.
There are limitations as the franchise owner (franchiser) takes important decisions and you have follow the rules mostly. Franchiser promote their products and procedures limiting your involvement even though you are the owner.
A huge amount of franchise fee has to be given upfront apart from the 5 to 20% of the monthly revenue. A strong financial background is mostly a criteria for a franchiser to choose you. Using the franchiser’s brand name has its own risks as the performance or any publicity mistake can cost you your business.
Owning your own gym
The initial investment is less compared to other businesses. You just need to find a place for rent and invest in good equipment?s. You make all the decisions related to your business and take all the profits. It provides an opportunity for opening one or more branches.
Some online retailers provide a huge discount for buying equipment?s in bulk. You do not need to be a trainer however, understanding the basics will help manage your business better.
The level of marketing and advertising provided by the franchiser is not possible. It takes time to build a decent number of customers. Equipment?s are bound to have wear and tear and periodic service and replacement of parts or the whole machine are required. Finding good trainers can be tough. Monthly income varies and is not fixed. Losses if any, have to be face by only you.
Choose fitness gym for earning weighing the above pros and cons. Decide whether to open one on your own or with the help of a franchiser based on your financial capability.