Are you looking to buy a franchise in the competitive fitness franchise industry? If you are then this is definitely the perfect post for you. Since today we will be sharing some free advice about franchising and especially the fitness franchise industry. We will also be sharing stats to prove franchising in the UK is profitable and most importantly the fitness industry is profitable in the UK market.
Before you buy a fitness franchise of course you will have a lot of questions. Since you are not going to make a investment unless you know that career path is going to be the right choice for you. So that’s why i will be sharing some basics statistics around the fitness franchise sector and also the whole fitness sector in the UK. To show what is achievable in the franchise for 2020.
Are Fitness Franchises Profitable In 2020?
Did you know?
- There are roughly 6.7 thousand health & fitness clubs in the United Kingdom in 2019
- Did you know out of the 6.7 thousand health & fitness cubs there was just over 9.7 Million members in the UK alone in 2019
- The fitness industry generated an annual turnover of £1.9 billion in the UK in 2019
- The majority of annual turnover of a health & fitness business in the UK is around £100,000 to £250,000
These numbers do not lie. This shows the potential of franchising your health & fitness business in 2020. Or becoming a franchisee of a known fitness chain in the UK in 2020. Now i will be covering some pro’s and con’s of franchising your business or becoming a franchisee.
Pro’s Of Becoming A Franchisee
- Run your own business without starting from scratch
- Your brand will be known from startup
- You do not have to create a new trend in your franchise location since most fitness franchises are already know around the UK.
Con’s Of Becoming A Franchisee
- No experience of running a business
- Even though you can become your own boss you have a lot of responsibility
- You have to be working 24/7 since people that run their own business normally work 7 days a week. Since they always need something done or something sorted out for example.
Now i have covered all the pro’s and con’s of becoming a franchisee. I will know cover all the pro’s and con’s of franchising being a franchisor of a franchise. If you are a thinking of becoming a franchisee these pro’s and con’s do not apply to you so you are allowed to skip this section.
Pro’s Of Becoming A Franchisor
- You can get your company a global reach
- Can get your brand more well known in the UK
- Fitness in the UK is a big market and the stats i shared earlier proves it can make you as a franchisor a massive profit.
Con’s Of Becoming A Franchisor
- You have a lot of pressure since you are working with multiple people who may have never run a business before
- You have to deal with legal issues and disputes
- You have a lot of pressure of unprofessional people buying your franchise and can bring your brand down.
Okay now i have covered both points of view of whether you are a franchisor or franchisee in the fitness industry in the UK. Now i will quickly cover about franchising and some facts to show franchising is thriving in the UK. Also how much good it does for our economy in the UK.
Why Franchising Is Good For The UK Economy
- Raises millions for charities
- Just over 700,000 jobs where provided in the UK last year from franchising
- Contributes to just over £17 billion to the UK economy each year
So now you know why franchising is good for the UK and more about the fitness industry. And also the pro’s and con’s of running a franchise have been covered hopefully now you may have came to a verdict to decide if franchising and most importantly the fitness industry is the right career choice for you. Since running your own business and being your own boss is not for everybody.
Thanks For Reading!
Now i would just like to take the time to say thank you for reading. I really hope this blog post has helped anyone looking in to a career in the fitness franchising industry. Since if run well it can be a truly life changing decision. Also if the fitness franchising industry is not your cup of tea. And do not wish to pursue a career in the industry i highly suggest you read some more articles on business ideas UK. Since we are a dedicated resource of franchising / business information.