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Franchise Prospector » Franchise Trends
Focus on Recreation & Fitness Franchises
A Formula for Success
Statistics show that franchisees are more likely to succeed in their first year than independent non-franchise business owners. Franchising often provides a well-paved path to entry in terms of cost and operations than independent businesses. Recreational franchises, from fitness centers, tournament organizers to equipment & apparel retail stores, have seen a spike in the number of players competing in the marketplace. With the general public focusing more on health and fitness, these franchises are positioning themselves to take advantage of the rise in consumption of recreational goods and services.
Most people enjoy at least one leisure or recreational activity and some are downright passionate about their particular hobby. This drive can translate into big bucks as a business owner, as well as a hobbyist. If you don't mind mixing business with pleasure you could be on your way to owning a recreational franchise. Before you trade in your suite and tie or do away with nylons and work pumps there are a few critical factors to consider when contemplating a recreational franchise. As a proprietor, an activity that always meant you were not on the clock will become work. Do you want your hobby to become your job?
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According to Steve Hockett of FranChoice, this is a critical question to ask before diving into recreational franchise. "One caution for any franchise business but more so for recreational franchises is whether or not you want your hobby to become your business or keep your hobby your hobby," said Hockett. "Don't chase your emotions. You may find that you end up hating your hobby." Another consideration is the long-term viability of a concept. "One of the challenges in general includes the ability to change consumption patterns so that people buy your product but that goes for any franchise concept," Hockett said. "Is the recreation something that is going to be a fad? Golf is popular and has been around for 100 years but is the boom over? What happens when the popularity moderates? Does this concept have long-term legs?"
In terms of cost, recreation franchises vary depending on the business concept. "If you are operating a service franchise where you are doing tours or there is no need for real estate the cost to entry can be low," said Steve Hockett of FranChoice. "If you have high inventory costs and real estate the cost is higher."
With women representing 50.8 percent of the U.S. population, the market for women's fitness services and products has never been larger and continues to grow. According to recent press release issued by Southern California-based Liberty Fitness, nearly 65 percent of Americans recognize the importance of fitness, but don't get enough exercise, as reported by the International Health, Racquet and Sportsclub Association. This study also showed that a large share of this group are overweight, self-conscious and intimidated by the idea of working out publicly in health clubs.
Women-only gyms are an exploding niche within the $14 billion fitness business. The demand is high for fitness-related businesses, especially those that target women. A female baby boomer's estimated annual spending on youth enhancing products is $29,200 while the average American woman's dress size increased from a size 8 in 1985 to a size 14 in 2004, which was reported by the U.S. Centers for Disease Control and Prevention.
In the past, fitness centers and gyms were notorious "meat markets" where women were ogled by men and vice versa, leaving those who wanted simply to work out and go home without exchanging phone numbers desperate for a hassle-free environment. Now, that trend is changing and the public is responding. Is it time you considered a Recreation & Fitness Franchise Opportunity?
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