Being a small business owner can be challenging – long days, demanding clients, huge responsibilities. But with the stress comes the reward of financial freedom and tangible progress. Being a small business owner – and specifically a fitness franchise owner – can be highly beneficial in both your personal and professional life.
In fact, 76% of those who decide to run their own small business are “somewhat happy” or “very happy” with their decision, according to a 2020 survey conducted by Guidant Financials’ Small Business Trends Alliance. So, whether you’re looking for a flexible lifestyle, the chance to innovate, or more control over your work and earning potential, there are many advantages to being your own boss in the fitness industry.
Below, we talk through just a few of the biggest benefits of owning a fitness franchise.
When working for someone else, it’s difficult to achieve total flexibility and freedom. But as your own boss, you have control over how you run your business and how you spend your time. You can do what you want, how you want, when you want to do it! You develop your product or service to the level you think is best and establish a set of systems and routines that work for you. And the best part is, if you need a power nap to boost creativity and productivity in the middle of the work day, you can take one!
At the same time, you also have to set appropriate expectations for yourself and your team. You decide how hard you work, what your revenue goals are, and potentially how much money you can make. So, when you do put in the work, there’s no ceiling on what’s possible.
Creating a Customer Community
When you love what you do and where you work, it shows. People are drawn to passion, so if you enjoy making people happy and helping them reach their goals, you may want to consider investing in a fitness franchise. The social benefits of the fitness industry are plentiful, and your passion will show through to your members, giving you a way to create a community of change in your neighborhood.
This industry involves hands-on services and communication, whether you’re making customized fitness recommendations or connecting with someone in the lobby. This approach to business stands out in today’s impersonal, automated world.
Our franchisees at BODYBAR Pilates build strong relationships with their members by simply paying attention and being empathetic. The entire franchise system is known for this positive community culture, which increases member loyalty and makes it easier for studio owners to find success. In fact, BODYBAR retained more than 70 percent of members during the COVID-19 lockdowns in 2020, when all the studios were closed. As our CEO, Matt McCollum, says, “People cancel memberships, not relationships.”
Opportunity for Growth
One of the major benefits of working in the fitness industry is strong growth opportunity. In fact, a report by IBISWorld found that the gym, health and fitness clubs industry is expected to increase by 7.2% in 2021. At BODYBAR, we know a thing or two about maintaining our brand value throughout multiple locations, so we offer a Pilates business opportunitythat promotes individuality, support, and growth for our owners. Our franchisees then pay it forward by helping their members and employees grow as individuals.
While there are many factors to consider before going into business ownership, at the end of the day, if your goal is to make a difference in the lives of those around you, then a fitness franchise might just be the right fit for you.