[dropcap]I[/dropcap]f you are a physically active mum who sees the value in engaging with your children in activities like cycling or hiking, congratulate yourself. Very few parents take the time to participate in physical activities with their kids. Instead, they leave them to the mercy of their Play Station and X-Box.
If your passion for incorporating physical activities into your parenting efforts often leaves you wishing you could share your enthusiasm with other children, now you can.
In fact, you can even make a living doing it. If you do some online research you might find that the little gym franchise for sale in your area offers an exciting investment and career opportunity to moms who have a passion for healthy living and children.
A Peak at the Franchise
Investing in a franchise is a legal relationship between the owner of a brand and an individual purchaser (or organization) wishing to use that already credited and established a business brand to further their financial goals and dreams of becoming a business owner.
Buying a franchise has numerous benefits. You are paying for the hard work that someone else has already invested in developing a successful brand with a stellar reputation, a proven marketing strategy and something that already offers ROI.
One of the biggest headaches of becoming a new business owner comes down to the unknowns of trial and error. When you buy a franchise, you get some peace of mind knowing that the stressful phase of figuring out what works and what doesn’t work has already long occurred leaving you with nothing but a success path.
Axing the risk factors
There are a few points that should be taken into consideration before one attempts to purchase a franchise. For example, make sure it is rooted in an industry you are deeply passionate about. For example, retired plumbers or people who love DIY projects may invest in a Hardware Store franchise while a retired schoolteacher might invest in a Discovery Store franchise.
If you are passionate about leadership, fitness and you love children then owning a kid’s gym would be right up your alley. Another thing is property. The age old question about business premises, should one buy or rent the property during the first few years of business activity?
It is very true that rental property will increase in value over time, but renting a property will also minimize the risk and one can investing any capital they might have in the business itself as opposed to having to find capital to buy an office or a shop outright. And the business owner also avoids the burden of having huge debts which can make your life very stressful.
Part of eliminating risk in buying a franchise is to make sure the contract includes corporate training. If the company takes the time to train you and educate you on the operational platforms that have made the business brand a success, you will be more likely to succeed. Furthermore, this demonstrates that the company truly values its brand and owners, as they hired an entire department to train and mentor their owners.
Investigate your options carefully
Make sure you not only research the company, but you investigate the pros and cons to owning a franchise. In an article published by ‘Entrepreneur’, the author advises the aspiring business owner to consider five questions to ask a franchise before signing on the dotted line.
These include the following:
- How well did the first opening go?
- How successful are the marketing programs?
- Does everyone get along?
- How much money can I make?
- If you had to do it all over again, would you?
You should also research location options, there are opportunities now where you obtain citizenship by investment from countries with low tax brackets. These will be beneficial to your business because you can reinvest that percentage of tax back into research, innovation, and advertising.
By speaking to another franchise owner, you will get honest and unbiased answers to these questions. If the other stores are doing well, and the clientele numbers are healthy, it may be the right time for you to take the reins and enter the business world!
