I’d love to get into that industry, but I have no experience in it. Isn’t that a bit of a risk? This is a qualm franchisors hear a lot. In a report conducted by the British Franchise Association and a major high street banking group, just over 60% of respondents only looked at franchises within one sector and that interest and understanding of the field was the key driver of both sector research and selection. With statistics from earlier this year finding one in five Britons would like to start their own business and that a high percentage of those are looking at health and wellbeing as their route of choice, it’s time to demystify fitness franchising. Here’s what you need to know.
With the right franchisor and the right support, you don’t need hands on experience
When considering fitness franchising, you need to find a franchisor with robust levels of experience in the industry so you can have total confidence in the support and training offered. There are several different fitness models of which boutique fitness is the fastest growing arm, valued at over £95bn globally in 2019. Boutique fitness eschews the more traditional long-term membership model and focuses on community, flexibility and engagement to drive loyalty rather than retention so having an experienced team and proven model are key to entering this booming market. As a rapidly expanding global fitness brand, TRIB3 was founded by one of the pioneers of the UK boutique fitness market, CEO Kevin Yates, and the support team working with him has over a century of combined experience in the sector. Many of the first franchisees to join TRIB3 had little or no working experience in the industry but came with a tremendous passion for fitness which, underpinned by over 150 hours of dedicated training and ongoing support, translates to continued next-level results.
Seeing (and sweating!) is believing
Fitness, as with other experiential franchise offerings, is all about passion for the product. As part of selecting your preferred franchisor and concept, you need to try out the product, step into your prospective customers’ shoes and see if you love it as much as they do. At TRIB3, the signature one workout, one studio model is underpinned by proprietary technology, an unrivalled coaching team and cutting-edge programming to keep customers coming back for more – the brand’s purpose is to bring people together through next-level workout experiences. As you start the journey to becoming a TRIB3 store owner, you’ll have a dedicated site tour where you’ll take part in a session, meet the store team and coaches and see what makes TRIB3 stores so inherently shareable, so you can really immerse yourself in the brand and the offering. This is a really key part of making sure the business model makes you feel really excited and empowered for the future.
Do believe the hype
Fitness initially had a tough time in the wake of covid-19, being one of the last industries to reopen in the UK after the first national lockdown. However, over the course of the ensuing restrictions, across the globe, an important message emerged and pervaded: the importance of physical activity to health. The UK’s Chief Medical Officer, Professor Chris Whitty, stated early on that: “there is no situation, no age, no condition, where exercise is not a good thing.” While it has no doubt been a challenging twelve months for operators of all shapes and sizes, there has been a renewed and robust spotlight placed on fitness and the positive role it plays. With the right business model in an industry set for growth, you can feel confident you’ve got a strong formula for success. Boutique fitness is the fastest growing proposition within the fitness industry as it harnesses the trend of consumers seeking rich ‘tribal’ experiences and wanting more from their workouts. The demand for connection and experiential fitness offerings is expected to flourish even more as communities ease out of covid-19 related restrictions. And, while many operators have faced challenge as a result of covid-related restrictions such as distancing, TRIB3 harnesses the most powerful, social elements of the smaller and intimate boutique model and fuses them with a unique studio design which maximises space. The result? A +48- studio which allows for a fast break-even and creates powerful communities with strong brand loyalty. A recent TRIB3 franchisee, who opened in August 2020 in the midst of the pandemic, achieved breakeven at month two of trading. These trends and results show that operators like TRIB3 are in prime position to leverage the coming market growth.
The key takeaways? A passion for fitness and the right franchisor is all you need to step into this exciting side of franchising. Take the time to immerse yourself in the product, try the workout, walk the journey and find a support team and a brand who can help you turn your passion into a truly exciting and unmissable business venture.
This article comes courtesy of TRIB3. TRIB3 ‘volume boutique’ fitness concept; offering a three-zoned, coach-led workout built around effort-level rather than fitness ability while being scientifically programmed to maximise calorie burn. The result is a workout experience that is arguably the most intensive yet inclusive in the world, with a unique studio design allowing for the fastest possible breakeven.
