The fitness industry is riding a wave of growth as more and more people seek an active lifestyle. This has led to an influx of gyms – so much so that the number of gym members is expected to reach 230 million by 2030, according to the International Health Racquet & Sportsclub Association (IHRSA). The drive to meet the needs of those looking to work out at a gym has entrepreneurs investing in the industry whether it’s by offering state-of-the-art equipment or specializing in nutritional programs and training.
From independent gyms to well-known gym franchises, there’s a variety of gyms for everyone. If you think opening a gym is a smart investment and a great way to diversify your portfolio, you’re correct. But the first step is deciding whether you want to open an independent gym or a gym franchise.
We’re here to help you get started on this first step. So let’s take a look at the top five differences between owning an independent gym versus a gym franchise.
- When you open an independent gym, you are responsible for making 100% of the decisions, from what equipment you offer your members to the look of your brand. While that sounds enticing, it is a monumental task – especially if you don’t have experience starting a business from the ground up. When you invest in a gym franchise, you are handed a proven business model. From membership options to the everyday operations, it’s all mapped out for you, which alleviates a lot of stress.
- As an independent gym owner, you don’t have a marketing team supporting your efforts to grow your business. In addition to operating your gym, you must create social media posts, flyers, emails, promotions, and other marketing initiatives to get your gym in front of its target audience. Because this is both time-consuming and expensive, many independent gym owners rely on word-of-mouth advertising.
This makes it difficult to compete with well-known franchises who employ an entire marketing department dedicated to helping their franchise partners scale their business. When you own a gym franchise you have access to a team of marketing professionals who create dynamic campaigns for your gym.
- Name recognition is a key factor when members select a gym. People are much more likely to choose a gym they have heard of or seen around town. Independent gym owners have a much harder time competing with well-known gym franchises.
- Gym franchise owners benefit from the franchise’s partnerships with manufacturers and retailers, giving them price breaks, promotions, and discounts on everything from products to equipment. When you’re an independent gym owner, you’re responsible for finding and purchasing all of your products and equipment. This means price shopping for the best deals and navigating uncharted territory on brands, what type of equipment is needed, and repairs.
- Gym franchises typically have a better chance of not only staying in business but thriving. Proven business models, marketing campaigns, support teams, structure, consistency, brand recognition, and more give gym franchises an advantage over independent gyms.
We know there is a lot to think about when making an important business decision. If you’re considering opening a gym, we’d love to talk to you. By understanding your goals and vision, we can help you determine whether a gym franchise or independent gym is right for you. If you would like to speak with someone from our franchise support team, please call 770-809-1425, or visit our Workout Anytime Franchise website.
