These five tips are some things personal trainers ought to look out for and things they ought to consider asking the franchisor before getting on board with them...
Chino Hills, CA (PRWEB) February 24, 2014
Making the decision to open a fitness franchise can be a little intimidating for personal trainers, especially if they lack a strong business background and aren’t sure of how to start the process of choosing one. But fitness entrepreneur and marketing expert, Bedros Keuilian, says choosing a fitness franchise to invest in is much easier when one knows what to look out for and what questions to ask. Drawing from his years of experience in starting, growing, and selling his own fitness businesses and opening the successful Fit Body Boot Camp franchise, Keuilian offers his top five tips on how to choose what is the best fitness franchise in an effort to help more personal trainers fulfill their dream of owning their own business.
The fitness entrepreneur says, “I’ve done a lot of research while creating my Fit Body Boot Camp franchise model, and I wanted to share this with the personal trainers who are out there looking for the best fitness franchise model to get into. So, these five tips are some things they ought to look out for and things they ought to consider asking the franchisor before getting on board with them.”
Here are Keuilian’s top five tips for choosing what the best franchise is:
1. Ask your franchisor how much the buy-in fee is and what exactly comes with that buy-in fee. Most franchises have a “buy-in fee” and that is where a lot of their profit comes from as well as the revenue that is used to provide you with the resources you need to get started. For instance, does this franchise provide you with marketing help? Do they offer any type of clients getting systems to help your new location hit the ground running? It’s important to have a strong understanding of what resources your potential franchisor is including in their buy-in fee first and foremost so you know what to expect.
2. Equipment. Fitness businesses require equipment, of course, and a lot of the time fitness franchises will ask you to buy your equipment through them (equipment is not something that is covered in the buy-in fee). While that maybe the easiest option for most people, there usually is a high markup and if you’re looking to save some money in the build out stage of putting your new franchise location together it’s a good idea to find out whether or not they’ll allow you to shop outside of their options for a better discount.
3. Royalty fees. Ask your potential franchisor what their royalty fees are. Some franchises offer a flat fee, regardless of growth, but a majority of the time most franchises will have some type of percentage- anywhere from 6% to 10% of your gross monthly revenue.
4. Term of franchise agreement. Consider the status of the fitness franchise in question and decide whether or not you’d feel comfortable signing on for however long their agreements last. Do research into the background of their company if you’re unsure.
5. Finally, find out what the level of coaching and support is from your potential franchisor. As a new business owner, you’re going to face a few struggles here and there with figuring out how to run your new business so asking what the level of ongoing support is crucial for the long term success of your location.
About Keuilian Inc.
Keuilian Inc. was founded by fitness marketing expert, Bedros Keuilian, who has been called the “hidden genius” behind many of the biggest names in the fitness industry – including top celebrity fitness trainers seen on television networks such as ABC and NBC.