6 Reasons to Invest in a Gym Franchise

While you might see a gym on nearly every block and think the market doesn’t need another one, it’s actually a fantastic time to invest in a gym franchise. Beyond the fact that the global health club market is worth $94 billion, the boutique studio is having a moment in the spotlight.

Let’s look at a few reasons why a gym franchise could be a rewarding investment right now.

1.   Market Share is Opening Up

Yes, recent events have certainly hit the fitness industry, but there’s a silver lining. With the gyms that have shut down, never to open up again, they are leaving market share on the table for new enterprises.

2.   People Want New, Innovative Gym Experiences

Gone are the days when a handful of weight benches were enough to satisfy all fitness enthusiasts. Today’s consumers want a variety of unique workout experiences.

At Mayweather Boxing + Fitness franchise locations, we recognize that just another boxing routine doesn’t cut it. That’s why we incorporate virtual reality and heart rate monitors to offer members a little something extra.

3.   Boutique Studios are Hot

From 2013 to 2017, memberships to boutique fitness studios rose 121%. Compare that to the growth of traditional gym memberships in that same period: just 15%.

Consumers are moving away from signing up for $20 a month gyms in favor of joining a boutique studio that focuses on a specific type of workout philosophy. And these memberships come at a much higher price (great for franchise owners!). Because boutique studios offer limited space, they serve as a sort of exclusive club where everyone wants to be a member.

4.   The Home/Gym Model Isn’t Yet Saturated

If there’s one thing that the fitness industry learned from the world shutting down, it’s that we can no longer rely on a solely in-gym experience. While many fitness brands have scrambled and ultimately found a hybrid model that works, there’s still plenty of opportunity to provide value to members by offering both in-gym workouts and options to continue their hard work from the convenience of home. As a Mayweather Boxing + Fitness franchise owner, you can offer your members the best of both worlds, including exclusive off-site options based on Floyd Mayweather’s favorite at-home workouts.

5.   Gym Franchises Offer Complete Operational Models

When it comes to the decision between opening a from-scratch fitness business and buying a gym franchise, there’s plenty to love about the latter. For one, the brand is already established and has done the marketing legwork to create brand recognition. It’s also basically a business-in-a-box experience where all you have to do is find the space and unpack the systems and equipment packages that the franchise has already established.

There are numerous advantages of buying into an already-established franchise brand, compared to creating something out of nothing. You can also look to existing franchisees to understand the revenue potential you might realize.

6.   Gym Franchises Offer Unparalleled Support

Another thing you won’t get starting a gym on your own? A comprehensive support system. Mayweather Boxing + Fitness is as invested in your growth as you are, and will be there to guide and mentor you through launch and ongoing operations. Having someone just a phone call away and coming to train and guide you at your location is a great asset as a business owner. Now is quite possibly the best time to invest in a gym franchise! Let’s get started.