Franchising takes the guesswork out of starting a new business—that’s one of the reasons that Tapout Fitness has made such a deep impression on both the fitness and business worlds. With great success comes cynicism and criticism, and you’ll hear plenty of both. Here are the myths you should get used to hearing if you’re interested in owning a fitness franchise:
1. Fitness franchising is best suited to fitness industry veterans.
Yes, a passion for the industry helps. New business owners need to care about the product because without that interest it’s difficult to learn the nuts and bolts of the business. But in the fitness world, that means caring about customer service, facilities maintenance, and revenue streams—in other words, you don’t need to be a pro athlete to run a franchise successfully. If you’re considering a Tapout Fitness franchise, chances are you’ve worked out before. But you don’t need to be a personal trainer, competitive lifter, group fitness instructor, or successful college athlete to run your operation successfully.
2. Gyms are trendy, and trends are unstable.
Fitness trends come and go. But the fitness industry itself is on an undeniable long-term upswing. Millennials work out in unprecedented numbers, and their parents and even grandparents—armed with some impressive research about the effects of exercise on longevity and long-term health markers—are flocking to fitness centers, too. Capitalizing on that growth isn’t piggybacking on a trend, it’s just smart business.
3. Startup costs are exorbitant because of equipment costs.
Yes, you’ll need to demonstrate that you have the liquid capital to handle your startup costs. You’ll need a business plan to secure a loan, and you’ll need to know your assets and liabilities. But these requirements aren’t specific to the fitness industry—they are the steps that any entrepreneur takes to get started. In fact, Tapout Fitness franchise owners spend considerably less than franchisees in other industries, with a competitive initial fee and startup costs below six figures.
4. Membership-driven profits are shaky and unstable.
Membership is not the only revenue stream available to franchisees through Tapout Fitness. Think apparel, supplements and energy drinks, at-home fitness equipment, and accessories like gym bags and yoga mats. Your members want to take pride in your brand, and they’ll buy in with more than just a monthly fee. Those revenue streams aside, membership is neither shaky nor unpredictable. Gym memberships are on the rise globally, and Tapout Fitness provides protected territories and expansion opportunities to ensure that you hit those goals quickly and consistently.
The naysayers will always be there with whispers of doubt and fear. Successful business owners do the math, work the business plan, and turn those voices off—for good. If you’re ready to learn more, here are the steps to owning a Tapout Fitness franchise.