The beginning of the year is important for those of us that have made New Year’s resolutions. The first resolution that comes to mind is weight loss. Getting in shape runs a close second, and quitting smoking comes in third place ….
How many millions of dollars are spent on marketing and advertising to those of us that have these New Year’s resolutions?
According to the Nielsen Wire, $181 million was spent in January of 2008.
Let’s focus on fitness.
In the US, we are becoming more and more overweight every year. More than three quarters of American adults will be overweight by 2015, a survey has found. Obesity is becoming so bad, that it will soon be the leading cause of preventable death. Speaking of the US, we are the most obese country in the world.
Are more people working their weight off? Are more people getting in shape? Do people have the time in their extremely busy day to day schedules to actually show up at the gyms that they have bought memberships in?
Is it just me, or does everybody seem busier, and more harried, all the time?
Well, the time constrained consumer has been helping to shape a newer segment of the fitness industry. It is the 24-hour fitness club. Membership in a 24/7 fitness club includes a pass key that enables one to go workout anytime of the day or night. The daytime attendees will usually find a personal trainer running the show, and helping club members. Nighttime, in most cases, you are on your own. {These clubs do have security systems, which of course include video surveillance and other safety measures to protect its customers.}
Even with security measures in place, these franchise and non-franchise clubs are not without controversy.
Snap Fitness, and Anytime Fitness, are two of the largest franchisors of 24/7 fitness clubs, and both offer monthly memberships, and new, clean facilities. And, they are both growing at a rapid pace.
Investing in one of these types of fitness franchises will cost you between $175k-$200k total and you’ll want to be a multi-unit owner. As an owner, you are not really expected to physically run the clubs. That is what trainers are hired to do, freeing you up to either keep your current job, (if you have one) or scout out other locations, so that you may build your business up.
So far, these 24-hour fitness franchise concepts seem to holding their own in otherwise bleak economic conditions. For instance, I was able to match one of my franchise candidates with a Snap Fitness about a year and a half ago, and I just received word that he was set to open a second location, which is quite the refreshing bit of news, wouldn’t you say?
But, are there still legs in the 24 hour fitness franchise industry?
Quite frankly, I am somewhat surprised that 24-hour fitness franchises are still growing at a good clip. At some point, more and more competitors enter the market. Competitors like Zoo Health Club, and Workout Anytime, are looking to open locations across the country, and there will probably be more.
So far, this fitness franchise niche seems to be more than holding its own, in an environment in which lots of franchise company executives are getting increasingly frustrated by the low number of prospective franchise buyers.
Do you think that there is still room for 24-hour fitness franchises to grow, and prosper?
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About the Author: Joel Libava is President and Life Changer of Franchise Selection Specialists. He blogs at The Franchise King Blog.
