So you've looked around at your entrepreneurial options, realized that the fitness industry is racing toward a valuation of $1 trillion, and concluded that now is the perfect time to own a fitness studio. Excellent decision!
From there, you considered your most likely path to success, and it became clear that owning a fitness franchise from an established brand was more likely to deliver financial rewards when compared to going it alone.
Now you're wondering: what's next? How do you pick a franchise and start down the path toward launching it?
With these questions in mind, let's take a look at 6 key steps that you need to take to own one of the best fitness franchises in the industry.
6 Important Steps to Opening a Fitness Franchise
1. Research your options.
It can be challenging to know where to begin with so many fitness franchises to choose from. When considering your options, it's important to consider several factors, like which brands deliver on the hottest fitness trends, which have high customer experience ratings, and which have a high probability for growth.
Eat the Frog Fitness, for example, delivers on each of these points. Eat the Frog leverages many of the most popular fitness trends with a business model that emphasizes technology, accessible in-studio, and virtual training, experiential fitness, personal coaching, variable intensity training, and more. Eat the Frog also has a genuinely outstanding NPS (Net Promoter Score), which is determined based on a combination of customer experience and growth potential. When you compare Eat the Frog's sky-high score of 92 against top brands like Apple (47), Amazon (25), and Starbucks (77), you'll quickly see that it is a standout business opportunity!
2. Contact other franchisees.
Once you've narrowed down your options and more or less decided on a brand, it's good to get in touch with current franchise owners to learn more about their experiences. This is your chance to learn more about the "culture" of the franchise you're interested in.
Eat the Frog franchise owners, for example, often talk about how much they enjoy being at the center of their local fitness community. They report that they enjoy working around motivated, like-minded employees and members and all the wide-ranging opportunities for revenue streams.
3. Secure funding.
The next step involves financing your franchise, which is often achieved through personal savings, financial partners, or an SBA loan.
The funding brings up another key consideration: the upfront costs of launching a particular franchise. These initial costs are minimized with Eat the Frog Fitness mainly because our body-powered fitness equipment requires almost no additional electrical buildout, which is often expensive to install and maintain. Eat The Frog also offers 16, 20, and 24 station models to help franchisees be competitive in any market and control upfront costs. This helps to keep your need for upfront funding as low as possible.
4. Sign the agreement.
Before you sign a franchise agreement, you are disclosed, giving you access to more in-depth information about the brand. You are then invited to one of our studios for a brand presentation and meeting with the Founders to experience Eat The Frog Fitness firsthand.
After that, it's pretty straightforward. Sign the papers, and congratulations... you own your own fitness franchise!
5. Launch your fitness studio.
For most people, this is the most exciting step. Now it's time to start building your business.
That means everything from scouting locations, building your studio, hiring and training staff, and setting up your studio! It involves generating buzz in your local community, building your membership base through pre-sale during construction, and opening your doors when you're ready!
After a successful membership pre-sale during your studio build-out, you'll enjoy an immediate member base and revenue from day one!
What Makes Eat the Frog the Best Fitness Franchise Opportunity?
Eat the Frog Fitness has emerged as one of the top fitness franchises thanks to several factors:
- Our athletic-inspired workouts designed by our co-founder and Olympic Gold Medalist Bryan Clay have proven to be fun and effective, precisely what potential members are looking for!
- While our immersive studios put technology at the heart of the experience, the need for expensive equipment is minimized by our body-powered equipment.
- Our 24/7, tech-savvy operational model allows you to operate around the clock, which not only translates into greater member convenience and a wider membership base but the ability for you to leverage minimal staffing. You can even operate with zero staff during non-peak hours.
- Multiple revenue streams like membership fees, add-ons and upgrades, retail products, pay-to-participate challenges, and hosted events all translate into a greater likelihood of success.
- Eat the Frog has grown to become a trusted and recognized brand in the space, which better positions you to compete against big-box gyms. With a quick Google search, potential customers will see happy feedback from a slew of satisfied members!
- Eat the Frog has a proven track record for providing franchisees with outstanding support every step of the way.
- There are endless expansion opportunities! As your first location flourishes, you can always reinvest to open more!
Suffice to say that franchising with Eat the Frog benefits are many! It's no wonder our company has quickly grown to become one of the top fitness franchises in the industry!
TO GET STARTED AND LEARN MORE ABOUT OUR PROCESS, VISIT THE EAT THE FROG PROCESS.