When anyone decides to embark on the road of entrepreneurship, they do so knowing that there are risks involved. It’s the nature of the beast; and where the famous saying, “the greater the risk, the greater the reward,” comes from. However, there is a more secure route to go when you’re ready to work for yourself—franchising.
If you’re new to the game, franchising is when a franchisee pays an upfront fee to a franchisor, the person/corporation who owns the business, to buy into a portion of ownership relating to a specific business. In return, the franchisor will provide the franchisee continuous support, use of the business’ trademark, marketing assistance, the right to use the franchisor’s business, sell its services or products and receive insider information on how to successfully run and operate the franchise.
Franchising is one of the safest ways to go off on your own because the hard work has already been done for you. The brand that you’re buying into has already been established, gained momentum in the marketplace and there already has been ample learnings derived from trial and error that, as a franchisor, you won’t encounter. Sure, there are learning curves with any business— but as long as you properly prepare yourself with training and qualified staff, it’s difficult to flop an already booming franchise.
In addition to learning from our own mistakes, we also take the time to analyze the successes and failures of other companies that franchise. Although, unrelated from our business, the franchising failure of the donut chain, Krispy Kreme, has taught us all a valuable lesson— aggressive growth built on unsustainable fads will fail. It’s been over a decade since the confectionary corporation hit rock bottom, and has since reorganized their growth strategy to completely remove the ability to franchise in a majority of states in the U.S. and now primarily focuses on international franchising. Another pitfall that Krispy Kreme encountered was severing their core brand. This was done through franchising to basically anyone, in any location— such as gas stations, kiosks, in addition to actual brick-and-mortar locations! There was no more exclusivity; nothing about the product was special anymore, because you could get them anywhere. Although this is a completely different product, these mistakes could be the downfall of any franchise. GYMGUYZ was built on the passion and first-hand experiences by one person and has grown smart in the last seven years. Instead of oversaturating markets, GYMGUYZ takes the time to learn more about and research the prospective franchisee and the desired location they wish to open a GYMGUYZ. We truly believe in our service, and we know its worth— we are driven to provide a quality, unique experience versus unsustainable and impractical growth, just to make money.
One of the things that I personally love most about the world of franchising is that successful companies, such as GYMGUYZ, conduct ample market research. We’ve done the dirty work for you and have analyzed markets, demographics and we know which locations will be ideal for anyone interested in franchising with us. We take the time to prepare our franchisees to handle any situation, because we’ve been through them all. We are passionate about what we do and our mission to bring superior customized workouts to our client’s homes and help them achieve their fitness goals— and we are also driven to help you do the same.
To learn more about franchising with GYMGUYZ, please call us anytime at (855) 496-4899. We are here to answer your questions, educate you on our business and, together, help you decide if franchising is right for you.