The franchise world is filled with options to choose from. The sheer volume of choices can overwhelm even a veteran entrepreneur, causing them to overlook some very promising industries. For instance, the fitness franchise industry is currently capitalizing on very important consumer trends, making it an extremely valuable category of franchise to purchase.
Growing Fitness Industry
Fitness franchising is gaining major popularity as an industry. In 2018 alone, industry revenue grew 1.6%, according to IBISWorld. From 2018 to 2023, the Personal Trainers industry revenue is forecast to grow at the same annual rate to $9.1 billion.
This is largely bolstered by the growing popularity of low-cost, low-amenity gyms, which has lower franchise investments. This trend has caused franchise profit to rise to an average of 11.7%, further assisted by contained start-up costs and low marketing costs thanks to pre-established brand awareness.
More Health-Conscious Population
People across all demographics are becoming more and more health-conscious. This does not just apply to the younger generations either. According to this IBISWorld Report, the aging baby boomer generation and their children have broadened the fitness franchise market. Franchises appealing to the health needs of this older generation have a major opportunity to thrive.
Additionally, public health campaigns are consistently raising health and fitness awareness, which is encouraging consumers to join gyms, thus boosting demand in the industry. This is especially so for those with less open time on their hands. Those consumers will lean toward services like fitness trainers and tailored nutrition plans, which will allow them to achieve fitness goals despite having limited availability.
Desire for a Personalized Experience
Consumers desire a customized fitness regimen. They enjoy the motivation that comes from engaging one-on-one with a trainer that knows their personal goals and expectations. This way, clients have a better chance of reaching those goals with personalized attention.
A personal training franchise studio setting allows for clients and trainers to build a lasting relationship. Fitness franchises are convenient gym locations for those who want all the benefits of a bigger health club, but with a more clientele-focused feel. It’s worth checking out if your area has a franchise location, because if not, you are in a prime spot to fulfill this need.
If you have a passion for health and wellness, you should consider purchasing your own fitness franchise. The demand is there, you just have to take the initiative to answer the call.