Why Fitness Franchises are Booming
Fitness franchises have become extremely popular. In fact, franchise systems operating in the health and fitness sector have grown exponentially over the last five years. Over a five-year period, “Health and Fitness” franchise listings in Canada’s No. 1 franchise directory – Lookforafranchise.ca – have seen a 35 per cent increase.
And it’s showing no signs of slowing down.
“Canadians today are taking charge of their health,” explains Steve Collette, co-founder and CEO of 3rd Degree Training and Actual Nutrition when asked why he believes health and fitness franchises are rapidly growing.
Here are a few reasons why Health and Fitness franchises are booming:
Canadians are becoming more health conscious
According to Stats Canada, more than 16.2 million Canadians aged 12 and over reported participating in at least 150 minutes of moderate to vigorous intensity aerobic physical activity per week. A health and fitness franchise not only actively meets this demand, but also provides its franchisee with the reward of helping Canadians live a healthy lifestyle and reach their fitness goals.
There’s something for everyone
Gone are the days when gyms targeted only a small segment of the population. Nowadays, gyms are attracting more members thanks to an abundance of choice. Members can choose a low-budget gym and still get a good sweat in or they could opt for a smaller, more specialized boutique studio to meet their specific fitness goals. Plus, there are 24-hour fitness centres popping up nationwide to make going to the gym is a lot more convenient for today’s consumers.
Happy, healthy employees
More and more businesses are recognizing the benefits of a healthy workforce when it comes to the bottom line. Many employers are covering the costs of gym services and studios. This has become a great source of supplemental revenue for the fitness industry at large and it’s one of the reasons why this sector continues to thrive.
The benefits of a dues-based business
Whether it’s on a bi-weekly or monthly basis, membership fees and/or annual contracts give entrepreneurs a source of recurring revenue. Combined with non-dues revenue sources typically available at gyms, such as smoothie bars and activewear merchandise, a health club could prove to be a very profitable venture.
All these factors are the key reasons why the demand for fitness franchises is so strong. Losing no stamina anytime soon, it’s definitely an exciting time be in the health and fitness franchise business!
You can learn more about the exciting opportunities in the health and fitness industry on the Franchise Canada Chats Podcast!