08 Sep, 2017

Top Fitness Club Franchise

Top fitness club franchise Did you know that 7 out of 10 health club purchasers feel that they were mislead or over paid for their top fitness club franchise business? The health club industry was recently rated a top five business to own or buy in a recession by several respected sources. The lifestyle is attractive, the revenues are predictable and the services they provide are fantastic. However, now more than ever buyers are biting off more than they can chew and being mislead buy sellers, brokers and franchises. For years Fitness Marketing Group has been consulting health clubs worldwide. The number one complaint we receive from new operators on a daily basis is that the business they bought is not what the seller represented. Essentially, they were ripped off. Revenues, membership numbers, profit centers, liability and more were all improperly represented. UNFORTUNATELY THEY ONLY HAVE THEMSELVES TO BLAME! Of course sellers, brokers and franchises are going to represent their product in the brightest light! They can do this because they understand the business and YOU DON'T. In fact 8-10 fitness club purchasers have never owned or operated a fitness business before. Often times even the brokers don't understand how to properly value and represent a fitness club. If they can't do it how are you supposed to? You can't. Here's why: 1. Represented membership numbers are NEVER accurate 2. Attrition rates cannot be represented effectively in financial statements 3. Capital requirements are underestimated for continued business growth 4. Paid in Full memberships and upcoming contract expiration dates of EFT memberships are not represented correctly in financial statements 5. Franchises routinely over promise and under deliver The fact is, like any business these health clubs are for sale for a reason. Memberships may already be on the decline. If you are unable to properly investigate top fitness club franchise accusation the likely hood is that it will not be what you think it is. HERE'S THE GOOD NEWS! The health club industry is still a great business. Even in the recession well run facilities have been able to increase profit. Starting or buying a top fitness club franchise center is a great idea for people who are educated on the risk and rewards of owning a fitness club. Even buying distressed health clubs can be lucrative if you are prepared for the turnaround.