Alloy Personal Training Business Should You Franchise Your Business?
At some point, successful entrepreneurs often wonder if they should franchise their business. But as any franchisor will tell you, this is a completely different business from your current business. It offers different challenges and opportunities to grow and help others along the way.
But how do you know if you should go down this route, and if so, what do you need?
Having successfully operated a fitness business for more than 30 years, licensing over 2000 clubs worldwide, and recently getting into the franchise space, Rick offers his unique perspective to anyone considering franchising their business.
First off, your business needs to be UNIQUE to be franchisable. This uniqueness is best viewed from the lens of the consumer because they are the ultimate validator of your business concept.
But that’s just the start, there’s more to it which Rick unpacks in this episode.
Tune in to learn more!
Key Takeaways
- Haircut story (01:18)
- Why Alloy went for franchising (07:04)
- Is your business franchisable (08:44)
- The minimum capital outlay needed to launch a franchise (09:58)
- Corporate expansion vs. franchising (12:20)
- Emotional ROI for a franchise (14:18)
- What fitness concepts aren’t good franchising ideas (20:11)
- What’s your real motivation for wanting a franchise (23:56)
Additional Resources:
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