It took a global pandemic to shake up the fitness industry! A total black swan event that forever changed lives, businesses, cultures and nations all over the world. One thing that clearly emerged is the understanding that our health is paramount, and that good health and fitness are essential to safe and happy lives.
Now, more than ever, may be the best time to act upon your entrepreneurial spirit and open your very own boutique fitness studio!
Boutique fitness centers are experiencing the highest growth rate within the overall fitness industry as it caters to more sophisticated and demanding fitness consumers. With a key focus on hygiene and safety during your gym fit-out and operational setup, gym members can be confident of having a safe, healthy, and fun experience. These same consumers will pay a premium for these boutique services.
Boutique fitness centers have key advantages over traditional gyms and some of them are listed below:
- Smaller fitness centers allow for lower rental and fit-out expenses and oftentimes increases operational efficiency.
- Staffing a boutique fitness studio has lower costs than normally much larger facilities. A skeleton team will keep your staffing overhead minimal.
- As you offer small group training programs, it’s easier to track participants’ movements and maintain adequate social distancing.
- Having your fans booking workouts in advance and before coming to the facility helps ensure you have real-time data about your fitness center at any time.
Starting your own boutique gym can be a very exciting and challenging journey, and if successful, it can be financially rewarding as well. However, similar to starting any type of business, you are in it by yourself and have no one to rely on for ongoing advice and support.
Another popular alternative is to purchase a boutique gym franchise. There are many benefits to franchising versus starting up your own gym.
- Franchises offer the independence of small business ownership coupled with extensive support of bigger and more established businesses.
- You don’t need health and fitness experience to run a gym franchise. Franchisors will train and support you from A-Z in terms center management, operations, human resource planning, marketing, etc.
- With some franchises, you may qualify for financing, which is helpful if you have a limited investment budget. Banks often look favourably on investors seeking loans to open proven and successful franchises.
- Successful franchises often have strong local and regional reputation, effective management and work practices that can be shared with franchisees and investors.
- Franchisors provide the crucial ongoing training and support as well as new product development that is required for long-term success.
- Lastly, but not least, franchises have a proven higher rate of success than new businesses that are not started from scratch or that are not already a franchised business.
If you are based in Asia, you may want to consider Fire Fitness – one of Asia’s leading boutique fitness chain that is backed by Asia’s top fitness operator, Evolution Wellness. Fire Fitness offers very unique and popular fitness programmes, such as STRIDE, STRIKE, RIDE, FORCE, and BARRE by FIRE.
- Technology Driven – In-studio programme provides fans with performance data post workout that enhances the high end boutique experience.
- Inclusive – For everyone, providing facilities and experiences for a range of exercisers.
- Part of a Global and Proven Team –Evolution Wellness Group, the team behind some of the best known fitness and wellness brands in Southeast Asia.
- Unparalleled Business, Training, Operational, and Sales & Marketing Support.
For more info about Fire Fitness, you can visit http://vffranchiseconsulting.com/brand/fire-fitness/.
Author: Sean T. Ngo is the CEO and Co-Founder of one of Asia’s leading franchise consultancy, VF Franchise Consulting. He is Vietnamese American and has been living in Vietnam for over 16 years. You can reach him at [email protected] or [email protected]