When you’re thinking about starting a new business venture it can be quite overwhelming.
But the good news is, it doesn’t have to be.
There are many ways to starting a business. And it doesn’t have to be from the ground up.
Franchising an already established business can be rewarding and beneficial for your life. It can open new doors, it can be the start of the rest of your life, it’s all around a fantastic journey to begin.
When your niche is fitness, you may be wondering how you can fit that into your new business.
Will you start a fitness coaching business?
Will you open up a healthy restaurant?
Or how about a health and fitness studio?
Well, you’re in luck.
I have an incredible opportunity for franchising that I am going to speak with you about today. It’s called Orange Theory Fitness, and this business is blooming.
It’s exploding with growth and if you’re into fitness then it will fit right into your life. So, what makes Orange Theory Fitness such a wonderful opportunity for franchising?
To be honest, there are many things that make this the perfect opportunity. But there are also some disadvantages to owning this franchise. If you are ready to listen, then I’m ready to tell you.
Let’s get down to business. Franchise business, that is.
Orange Theory Fitness Background
While there are many fitness and exercise establishments around, not every studio will fit every person’s needs. And honestly, there are some establishments that are just overall better and more appealing than others.
Orange Theory Fitness is a health and fitness studio that requires member access for use of the exercise equipment. This studio includes a simple contemporary atmosphere with a signature and energizing orange color scheme.
This color scheme is obviously based off of the name of the company. But you can imagine how inspiring and energizing this studio must be, just by basing it off of the bright orange theme.
This health and fitness studio has been around for over a decade and continues to grow yearly. Its atmosphere is inviting and friendly. And honestly, that’s truly what customers are looking for in a health and fitness establishment.
Orange Theory Fitness has made a name for itself for being a one-of-a-kind exercise studio. You now have a chance to get a piece of this business by purchasing a franchise outlet.
With the growth and the wonderful atmosphere that this studio provides, you can imagine that this would be and an incredible opportunity for franchising.
Requirements and Details on Franchising
With franchising, a lot of responsibility. it also comes with a lot of money. Both making money and investing money.
But how will you know if this is truly the right opportunity to sink your teeth into? There are many factors that you need to consider before you jump in.
One is the growth and turnover rate of the company. The growth alone may be able to tell you about the popularity and interest in the company.
The turnover rate can indicate whether the company is in good health or bad health. And sometimes you will need even more details directly from the company to understand the reasoning behind the turnover rate.
If the turnover rate is too high, this could indicate that previous franchises closed or terminated due to unforeseen circumstances, such as losing too much money.
In the year 2010, there was only one franchise outlet that was operating at the time. Six years later in 2016, that number grew to 511 operating franchise outlets.
This alone tells us that the growth was exponential. But where does the turnover rate stand in all of this? Remember when I said that a high turnover rate could indicate bad health?
Well, Orange Theory Fitness has a turnover rate of 10.21, which is beginning to reach the risky level. As I said, you will have to know the exact reasoning behind this turnover rate to understand if it is indeed risky.
Let’s take a look at the cost of franchising Orange Theory Fitness. The initial franchise fee for this business is $49,500. That price alone is not too extreme for a fitness center. However, the total investment for this franchise could be anywhere from $488,000 to $995,000.
And that’s not all.
Once you have made the entire investment and franchise fee, you will be responsible for paying an ongoing royalty fee and an ongoing advertising fee. The royalty fee is marked at 8%, whereas the advertising fee is marked at 3%.
These ongoing fees are a little higher than what the competitors are asking for from there franchises. Although, as I said, this pricing isn’t too bad for a health and fitness studio.
Also, the initial term agreement requires a 10-year contract. You can then renew your contract for 10 years at a time thereafter. There is no recorded fee for renewing the contract. So this is one of the questions you will have to ask the company directly.
How about we take some time and look at the perks for franchising this business?
What kind of perks are there, you ask?
First, let’s take a look at the financial transparency that Orange Theory Fitness offers their franchises.
When it comes to transparency, you will be provided with historical sales data from previous years, mature franchise location data, system-wide average revenue, and data on affiliate locations.
Not only does this company offer financial transparency, but they also offer refunds under certain circumstances, discounts when purchasing more than one franchise, territory right for your franchise location, and training support so that you never have to feel alone in your business.
The conclusion of the Review
Overall, Orange Theory Fitness is becoming an exceptional opportunity for individuals looking to open a franchise business. Franchising is hard enough.
You shouldn’t have to feel alone, and you shouldn’t have to worry about where your business will lead you.
Unfortunately, not many companies choose to offer their franchisees enough data and support to help them get started and keep going. If Orange Theory Fitness has caught your eye, then what are you waiting for?
This opportunity is exploding with growth and you could be the next outlet to open. Possibly even the first outlet to open in your community.
After reviewing this franchise opportunity, I’ve come to the conclusion that even with the high level of turnover rate, this business seems to be a great opportunity for someone passionate in the fitness industry.
Why I Like Lead Generation More Than Anything Else As A Jumpstart Business Versus Franchising In 2019
I’ve been into different businesses before and I struggled a lot. Although business is my thing – in fact, I enjoyed it a lot, especially in sales – I couldn’t avoid the talk of ROI or the Return of Investment.
Of course, I have to earn what I deserve. I couldn’t get that in a franchising business. Apart from my financial scarcity, I don’t want to expand someone’s business only to know the pressure and the demand it requires from me without earning the equal amount of work I put into it.
This is the biggest reason why I fell in love with our lead generation business because it gives off the sense of equality to me, my client, and my work per se. I earn more without compromising my life, my health, my time, so on versus the amount of work I did.
Take a look at my lead gen site for a Limo client in Lansing, MI I created for around 6 hours, including the ranking. Because of the satisfaction rate from the client, they didn’t hesitate to pay me $750 every single month for a 6-hour work.
That’s passive income. I didn’t touch anything on the site since then and I let the internet do the work. But I receive monthly payments. How cool is that?
How is this possible?
Nowadays, it’s a must for every small/local business to be visible online. Every business dies if there’s no initiative to put their business up on the web and become searchable to their target customers.
Statistics say that in 2019, there’s already 4.68 billion internet users using their smartphones and surpassing the 5-billion mark in 2020. That’s just smartphone internet users. How about the laptop and PC users? Imagine the numbers.
In addition to that, according to the US Small Business Administration’s recent survey, there are around 30 million registered small businesses across the country. Research says there are at least 50 niches giving us, the lead generation business owners, the amass number of potential clients.
Each client is vital because it comprises the small business owners desperate for the leads we produce. We gather these leads through free traffic from the well-ranked lead gen sites we create. We’re renting them out to them to earn an income in exchange for the monthly payment.
The system is similar to real estate. It’s just virtually done.
Because of that, it makes the business viable and thriving, given the number of people who want them.
And that’s exactly what you’ll learn in our lead generation coaching program. You’ll learn the fundamentals of running a successful online business, even if you invest in a franchising business, you’ll still apply the same principles of promoting your products online as effectively as possible.
- The High-Income Skill. The skill that pays the bills, gives you fortune, and wealth by honing your financial confidence that’s making you capable of building more money without being too sales-y to your clients. That confidence making you invincible against financial crisis because you know how to make money as quickly as possible.
- The EXACT blueprint to your 6- to 7-figure income that I, as well as other successful online entrepreneurs, had undergone and mastered en route to your first million dollars in the lead generation business. In this way, it gives you the chance to quit your dreading day job fast and enjoy life the fullest.
If you want to give it a shot, go here and visit our lead generation coaching program to learn more about it to get started.