Do you dream of running a gym? Have you made the decision to open a franchise gym in 2023, but you’re not sure which one to go with? With so many options, deciding on the right franchise can be challenging.
Gold’s Gym, Planet Fitness, and LA Fitness are among the top gym franchises in the United States. Does this mean you should choose to open an establishment under one of their brands? All three of those brands are well-known and established, but there are other great names.
Below is a list of the top 10 gym franchises in America that you can consider in 2023. Gold’s, Planet Fitness and LA Fitness the list. With that said, the list consists of:
1. Gold’s Gym
2. World Gym
3. Planet Fitness
4. Anytime Fitness
5. Snap Fitness
6. Crunch Fitness
8. Lifetime Fitness
9. New York Sports Club
10. Workout Anytime
Steps Involved With Opening A Gym Franchise
Each of those 10 places have their own criteria and requirements for people who want to open a location. Generally speaking, you’ll likely need to meet income/asset/net worth requirements, or at least one of those; Or a variation of them, if that makes sense?
The steps involved are usually straightforward. You contact the gym you want to franchise, and they will give you all the info you need. The chances are they can help you select a location, or they may want you to find the location.
Relevant Questions & Answers
How Much Does A Gym Franchise Cost?
It all depends. There may be franchise fees you have to pay, ongoing fees, as well as fees to lease a building. There could be additional fees; Generally speaking, it can easily cost six-figures to open up a franchise gym.
Which Is The Best Gym Franchise To Open?
One of the gyms mentioned previously are easily considered the best ones in the United States. All you have to do is compare each one before deciding which fitness brand is right for you. It all boils down to your personal preference and your targeted market.
What Are The Benefits Of Going The Franchise Route?
One of the biggest benefits include being backed (in a way) by a big brand that people are familiar with. This makes marketing a whole lot easier. There are other benefits, but that is the major one.
Franchise vs Opening Up Your Own Gym From Scratch?
This is a matter of opinion. Weigh the pros and cons of both. After that, you can decide to launch a gym from scratch or go the franchise route.
Are There Any Helpful Tips For Choosing A Gym Franchise?
Yes, research, research and more research. That’s really what it all comes down to. If you’re not 100% confident in opening up a specific gym franchise, then take a bit more time to think about it. When you’re fully ready, then you can take the dive.
How Do You Get Money To Start A Franchise?
Loans, work, save. . . . Just like you would with any other kind of business. Generally speaking, the more cash you have, the better. Also, don’t forget about crowdfunding and/or venture capital companies. If you need money for gym equipment, then you could look into equipment leashing or financing.
Advice On Picking A Franchise
Research the 10 franchises previously mentioned. Find out what requirements they have, and which gym franchises aligns with your goals. Don’t forget to research the history of each gym because this can play a major role in your decision.
Costs are important to consider. Before choosing a franchise, have a solid understanding of what is financially required. Take into ongoing fees and initial investment into consideration.
Choose a franchise that provides you with support. This can be in the form of marketing materials, training sessions and things of that nature. Also, maybe reach out to past franchisees and current franchisees of the gym you’re thinking of opening. Hear what they have to say about it.
It’s also a good idea to speak with an attorney with expertise in franchise agreements. They can advise you on loads of things, including if you’re getting a decent deal or if you should think twice about doing it.
What Can Go Right With Running A Gym Franchise
You can help people reach their goals, well at the same time having the chance to develop a community of fitness lovers or those who simply like to train. Not only that, but you’ll feel great seeing members hit milestones like getting stronger, losing weight and building their self-confidence. Perhaps the best thing about running a gym under a big brand name is you’ll stand a decent chance at making a good income.
What Could Go Wrong With Running A Gym Franchise
You could end up facing extremely intense competition. As a result, retaining members might be difficult. Let’s not forget to mention that this is an investment and you could end up deep in the red. Other things that could go horribly wrong include being sued, being forced to close your doors due to unforeseen circumstances, as well as equipment failing, which means you’ll need to spend money to replace it or to have it fixed.
The End: Do Your Research
Those are some of the best gym franchises in America. Do your research before you decide to open a franchise. The more research you do, the better off you’ll be.