5 Reasons To Invest In The Fitness Industry
The Australian fitness industry is worth billions of dollars, and its value just keeps growing as more entrepreneurs throw their hats into the ring.
From gym owners to online personal trainers, there are lots of ways for professionals to invest in the fitness industry and become part of one of the fastest-growing fields in the country (and the world).
Despite its impressive growth, it’s not too late for you to join the fitness industry. If you need a little extra push, here are five reasons to consider launching a fitness business.
1. Fitness Is a Lifestyle
Most people see fitness as a lifelong investment.
It doesn’t matter if they’re aspiring bodybuilders or busy parents. People who prioritise fitness understand that they must exercise regularly to achieve their goals and maintain their health.
Because gym-goers see fitness as a lifestyle, gyms experience a reliable flow of customers all year round.
True, you might notice some fluctuations around New Year’s or a slight dip in attendance during the holidays when people are extra busy. However, you’ll still have consistent customers throughout the year.
Continuous customer flow means you’ll also enjoy a relatively consistent cash flow. If you’re looking to invest in a reliable business that provides a steady stream of income, starting a fitness business is a great choice.
2. Make a Difference
Everyone wants a meaningful job but not everyone knows how to find one.
If you’re seeking more fulfilling work but don’t know where to look, consider investing in the fitness field.
When you launch a gym business and work in the fitness industry, you get to meet all kinds of people and learn their stories.
You find out what motivates them and what struggles they’ve faced in the past. You also get to see them overcome hurdles and become better versions of themselves, whether that’s through losing weight, gaining muscles, or hitting a new weightlifting PR.
A career in the fitness industry means you get to make a genuine difference in people’s lives. You get to enjoy the satisfaction of knowing you helped them set goals, provided them with a safe place to pursue those goals, and contributed to their success.
3. High Growth, High Return
If you’re investing your hard earned money, you obviously want to see a return on that investment.
The fitness industry is booming, and it’s expected to continue growing in the coming years. Because the fitness field is experiencing rapid growth, there are lots of opportunities for investors to experience high returns.
The potential for high returns is especially true for gym and gym franchise owners. Gym businesses cater to a large clientele, from gym junkies to the average Joe who just wants to feel a bit fitter and healthier.
With multiple target audiences, the fitness industry is a relatively safe investment. It’s also very resilient. Gyms and fitness studios have weathered various economic storms over the last several years, and they’ll continue to do so in the future.
4. Effective Yet Simple Business Model
Businesses in the fitness industry — especially gyms and fitness studios — operate based on a simple yet effective business model. The fitness industry is generally much easier to figure out than other industries like retail or hospitality.
Fitness businesses earn money from several revenue streams, including the following:
Monthly memberships
Group training
Personal training
Merchandise
When you invest in the fitness industry, you can decide which revenue streams you want to utilise to establish a profitable business. You can also attract a diverse client base with multiple revenue streams and set your gym or fitness studio up for long-term success.
5. Be Your Own Boss
Owning a fitness business comes with a lot of responsibility. However, it also comes with a lot of perks, including the chance to be your own boss.
If you love the idea of running your own business, consider becoming a fitness investor.
Running a gym or fitness studio gives you plenty of freedom and leadership opportunities. You’ll also become skilled in various aspects of entrepreneurship, from hiring and onboarding new employees to managing finances and handling the company’s payroll.
The Best Way to Invest in the Fitness Industry
One of the most obvious ways to invest in the fitness industry is to open and own a gym. However, not everyone has the experience needed to start a gym from the ground up.
If this is the case for you, investing in a fitness franchise is an excellent alternative.
What Is a Fitness Franchise?
The franchise business model involves an owner (or franchisor) licensing operations (including the business’s products and branding) to a franchisee.
The franchisee pays a franchise fee and then runs the business according to specific guidelines implemented by the franchisor. They also pay ongoing royalties to the franchisor.
A fitness franchise involves licensing a gym or fitness studio’s name, services, branding, etc., to a franchisee who wants to invest in the industry.
Benefits of Owning a Fitness Franchise
Gym franchises often have lower barriers to entry and established business models.
You don’t have to figure everything out on your own. You can learn from other franchise owners and build off of an existing, successful company.
When you open a gym franchise, you also get to enjoy the benefits of brand recognition. People are already familiar with your business’s name and offerings, meaning they’re more likely to check it out and sign up for a membership.
Get Started with a Stepz Gym Franchise Today
If you’re ready to dive into the gym franchise arena, check out Stepz Fitness. We offer a proven hybrid model that provides you with multiple revenue streams and low operating costs.
We are one of the country's fastest-growing fitness franchises, and we would love for you to join us on our journey. What's even better is that no experience is required. Our team will help you with every aspect of setting up your facility. All you need to bring is your passion.
Enquire today to learn more about opening a Stepz franchise and becoming your own boss.