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Fitness Franchising: Which Type of Center? Gym Or Trampoline Park? Find Your Ideal Partner All in the New Global Wire

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Fitness Franchising: Which Type of Center? Gym Or Trampoline Park? Find Your Ideal Partner All in the New Global Wire FITNESS Global SPECIAL Franchise WIRE MASTER, REGIONAL AND INTERNATIONAL FRANCHISING FITNESS FRANCHISING: WHICH TYPE OF CENTER? GYM OR TRAMPOLINE PARK? FIND YOUR IDEAL PARTNER ALL IN THE NEW GLOBAL WIRE GOLD’S GYM P6 SNAP FITNESS P14 GRAVITY P22 CURVES P26 REACH YOUR STRONGEST FINANCIAL POTENTIAL BY HELPING PEOPLE ACHIEVE THEIR POTENTIAL THROUGH FITNESS. Transform lives, including your own, by joining the # 1 FULL SERVICE FITNESS most respected and best-known brand in the fitness FRANCHISE IN THE WORLD industry category. Providing a market-leading, 96% BRAND AWARENESS best-in-class service, Gold’s Gym franchisees serve 3+ THE MOST RESPECTED AND BEST- KNOWN BRAND IN THE CATEGORY million members worldwide with 700+ gyms in 29 states & 28 countries. Opportunities available from many U.S. $84 BILLION GLOBAL FITNESS INDUSTRY and International markets that are primed for growth. FIGHTING OBESITY Begin your journey. Transform your life. Join our legacy. Visit franchising.goldsgym.com © 2018 Gold’s Gym. All Rights Reserved. *The financial representation is for the 115 corporate owned facilities during 2016, regardless of their size as published in Item 19 of our 2016 Franchise Disclosure Document (FDD). There is no assurance you will do as well, and you must accept that risk. THIS IS NOT AN OFFER OF A FRANCHISE. Offerings are made by prospectus only. Welcome Welcome to the second edition of the Global Franchise Wire. This online extra from the number one journal in international franchising [ CONTENTS ] looks at the presently surging trend in fitness centers. This is a franchising sector which has exploded over recent years. From city center 4 5 TIPS TO GET YOUR FITNESS mega-venues to small neighborhood 24/7s, FRANCHISE IN SHAPE By Jamie Weeks of the Western world has taken to these with open Orangetheory Fitness arms. It’s a trend which has melded well with franchising, and international investors have 6 GOLD’S GYM made a success with fitness too: gyms which are Long-established success story household names in the U.S. and the U.K. can now routinely be found in the most far-flung 10 WHY BUY A locations. But this doesn’t mean that franchising TRAMPOLINE PARK? 6 It’s where fun meets fitness fitness will assure you of success, Like any other branch of this exciting industry, care needs to 12 CURVES be taken in franchisee selection, location choice Safe, welcoming women’s concept and so on. To help you make the right choice, this issue of GF Wire includes lots of useful 14 SNAP FITNESS advice and suggestions for brands to franchise. Putting franchisees first Happy franchising! 16 F45 TRAINING Fast growing training idea Ross Gilfillan Editor 18 4 GREAT FITNESS Global Franchise OPPS TO FRANCHISE [email protected] Your entry to the sector ISSN 1744-6988 02 EXPERT 06 EXPERT ADVICE 9 771744 698037 ADVICE * Brand profiles * Brand profi les * Interviews 1366-2295 * UK-based start-ups 22 GRAVITY Industry news Industry trends Making 771366 229039 * * ISSN What 9 Business plans * Franchise directory * Money £3.253.25 JUNE 17 * £3.99Franchise VOLUME 13 ISSUE 2 www.startupbusinessuk.net www.what-franchise.com* SENIOR THE BUSINESS START-UP MAGAZINE SUCCESS Trampoline park going places STORIES Got what it Ready to MAGAZINE THE BUSINESS START-UP You’re never too old TAKES? to be a franchisee The skills you’ll ROLL MORE BANG need to become The pros and a successful cons of buying a FOR YOUR franchisee franchise resale MOVERS BUCKS How to get the most & SHAKERS out of local newspaper Artisan crafted advertising gourmet food meets cutting edge logistics TRAIN TALKING 26 FLIP OUT to gain SHOP Training and The benefits of a support is the retail franchise bedrock of over starting success from scratch 16 Make Money A leading UK operator Proven profit potential Online at Home Joscocare founder offers franchisees three tried and tested revenue streams with Simon Coulson of The Internet Business School PAGE SHOUT PAGE FUNDING PAGE HIT THE JUNE PAGE OUTSOURCING PAGE JOIN 400,000 PAGE CHOOSE 11 ABOUT IT 8 YOUR FUTURE 6 HIGH ROAD 32 FOR PROFIT 12 ENTREPRENEURS 16 SUCCESS 2017 How PR can get Expert advice on how to Common myths about 7 top tips to focus your Opportunity knocks in the How informed decisions your brand noticed secure the right deal van-based franchising business strategy Direct Selling sector infl uence your future 28 4 REASONS WHY FITNESS IS THE SECTOR FOR YOU Why you should jump in now! 30 XPONENTIAL FITNESS www.globalfranchisemagazine.com Multi-faceted business ADVERTISEMENT SALES DIRECTOR EDITOR Mark Forsyth 44 (0)1323 471291 Ross Gilfillan [email protected] [email protected] GROUP ADVERTISEMENT MANAGER ART DIRECTOR Richard Davies 44 (0)1323 471291 Lee Whiteford [email protected] DESIGNER 22 GROUP ADVERTISING MANAGER Adam Barford Dan Lodge 44 (0)1206 505951 CREDIT CONTROL [email protected] Sue Carr SENIOR ACCOUNTS MANAGER 44 (0)1206 505903 Neal Phillips 44 (0)1323 471291 PUBLISHER [email protected] Matthew Tudor SENIOR ACCOUNTS MANAGER Tom Hepton 44 (0)1206 505487 [email protected] Follow us on twitter: ACCOUNT MANAGER @globalfranmag Craig Bartlett 44 (0)1323 471291 [email protected] HEAD OF EDITORIAL (BUSINESS) Fae Gilfillan [email protected] Published by Aceville Publications Ltd The Boatshed, Sovereign Harbour, Eastbourne, East Sussex, BN23 6JH. Printed in England © Aceville Publications Ltd GLOBALFRANCHISEMAGAZINE.COM 3 ADVICE 5 TIPS TO GET YOUR FITNESS FRANCHISE IN SHAPE Like any other businesses, succeeding with a fitness franchise depends on how you handle a wide range of issues hroughout the process of growing 20 Orangetheory Fitness franchise studios CREATING A COMPANY and then partnering with Ta private equity firm to expand my CULTURE THAT PRIZES A WELCOMING, operations further, I’ve learned a FRIENDLY COMMUNITY few lessons on how to succeed in the OF PEOPLE INVESTED fitness franchise world. Here are the IN THEIR HEALTH five most integral pieces I’ve learned TAKES TIME AND over the past few years of building EFFORT AND IS THE my businesses. MOST IMPORTANT THING YOU CAN DO AS PEOPLE AND PROCESS GO HAND-IN-HAND A FITNESS FRANCHISE 1 OWNER” As fitness franchise owners, there are three things you can easily focus on: revenue and expenses, human capital, and process. It’s easy to get caught up focusing on revenue and expenses, but what you really should be focusing on is human capital and processes, because those take more time and skill to build. Building human capital isn’t easy - it means spending the time to hire the right people who are humble, passionate and hardworking, and then training them and HOW TO CREATE A WINNING COMPANY focusing on helping them grow professionally. Building this kind of world-class team doesn’t happen overnight; you must CULTURE WITHIN YOUR FRANCHISE make it your top priority. To do so you have to take a close 1/ You care because you are an owner of the business; look at how and what you delegate to managers and team make your team owners too. Sharing ownership with members so you can focus on recruiting, hiring, and training. your leadership team ensures they understand you Learning how to appropriately motivate your team is an are as vested in them as they are in the business, and ongoing journey. I offer my team clearly spelled out incentive collectively, you’ll feel like you are all in it together. structures that motivate hourly employees with month- 2/ Set monthly and quarterly attainable goals for bonuses. end bonuses that are tied to specific KPIs, such as member With millennials, we need to be able to show progress satisfaction measured through customer surveys. I also offer in minutes, not years. equity in the business for studio and regional managers who are helping drive profitability and have a significant impact 3/ Outsource tasks that aren’t human capital related. on the performance of each studio. If it’s not growing your business or focusing on developing employees, it is time to outsource it. It’s no secret that happy, motivated employees who are paid well to perform well will keep your members happy 4/ Invest in employees early – don’t wait until it’s too late. and your business growing, so don’t make the mistake 5/ Make it about the member/client/customer. If you focus of overlooking human capital and building a great team. on them by creating a warm, friendly, community, your Working with my team is my favorite part of owning my employees will focus on that as well. businesses, and I am committed to helping them grow and making them happy every day. 4 globalfranchisemagazine.com KNOW WHAT YOU every financial statement to a cloud DON’T KNOW 2 account. Don’t keep these separate Owning a business is a humbling with each person who manages each ABOUT THE AUTHOR experience. You’ll quickly learn that piece of the business; instead leverage there are certain tasks and activities technology solutions to centralize all Jamie is CEO of Honors Holdings, which owns that fall far beyond your domain your paperwork. and operates over 25 Orangetheory Fitness of expertise. Truth is, you won’t be studios across the US and UK. Before moving the best, most qualified person to BEING IN THE WEEDS into the franchise world, Jamie was a Senior execute each and every task. For 4 WON’T HELP YOU GROW Vice President at Morgan Stanley’s Southeastern these activities that fall beyond your It’s tempting to get in the weeds of Wealth Management Group and prior to that purview – such as accounting and your business a lot of the time, digging he was a Director at Barclays Wealth and an taxes or search engine marketing – and drilling into problems as they Executive Director at UBS.
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