Choosing a profitable franchise When thinking...
Fitness is a hot topic among Canadians these days, and there is no shortage of options in the sports and fitness franchise industry. This segment includes everything from equipment to gyms and weight loss centers, so if you're thinking that a Canadian fitness or sports franchise may be right for you, here's what to consider.
Competition is fierce
The fitness and sports industry is full of competition. Not only do brands compete with each other, but they also may be competing with community centers and non-profits such as the YMCA. There are also online fitness programs and things people can do in their own homes on top of independent gyms and trainers who aren't part of any other company.
Because of the level of competition, a franchise can be a perfect fit for someone who wants to enter this space. As a franchisee, you'll be able to tap into the brand's power and marketing clout. If your franchise involves equipment and supplies, being able to use the franchise's scale to bring prices down is another big benefit.
There are a lot of peripherals
If you want to get into the fitness or sports market but don't want a weight loss center or gym facility franchise, there are a lot of accessories and peripheral items you can go for instead. Supplements, protein powders, weight loss products, clothing, shoes and more all have a place in this industry. Some products, such as shoes for specific sports, may be more niche, so you'll want to look into the local market for these types of products before you make your final decision.
As with the fitness industries, sports franchises come in a variety of forms. While retail outlets are the most obvious, there are also mobile drug testing franchises, sport training franchises, recreation centers, leagues and other business types, such as sports-themed eateries or hair-cutting salons. Retail stores can also focus on fans instead of the sport itself, selling apparel and other items for teams all year round. These types of fan-focused franchises usually do better when they highlight a variety of teams across different seasons rather than just one sport.
If sports and fitness are your thing and you want to help people lead active, healthier lives, a sports or fitness franchise just may be the opportunity for you. As with any other franchise type, make sure you do your due diligence before signing onto to any brand.