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Founder of several successful fitness businesses explains some important questions to ask before starting a fitness franchise business.
Chino Hills, CA (PRWEB) July 16, 2014
Bedros Keuilian is the founder of Fit Body Boot Camps, the fastest-selling fitness franchise business in the country. Hes also a highly-regarded fitness marketing expert and consultant to some of the most recognized names in the fitness industry. According to Keuilian, although he encourages fitness professionals to become entrepreneurs, there are several important things they need to consider first.
Its easy to get excited about going into business for yourself and getting off of the personal training treadmill, says Keuilian. But its really important that people dont jump right into the first thing that looks good.
Keuilian explains that his fitness boot camps have seen a marked increase in new locations this summer and he attributes much of the increase to a growing concern for healthy living that is making the fitness boot camp very popular. But he says that its also due to an increased desire in personal trainers to find something more profitable and less arduous than training private clients.
A fitness franchise business is a great way for people to go, he explains. A lot of the branding work has already been done and systems are already in place. But people still need to make sure they ask themselves and the potential company the right questions.
He says that first and foremost, potential entrepreneurs should know exactly what the buy-in fee is. He adds that many companies are vague about the final total that will be needed and that its often thousands more than originally stated. People need to make sure there arent any hidden fees, extra equipment costs or any other expenses that are going to be added on to the buy-in once they sign up.
Another important question is what the monthly royalty fees will be. Most companies charge a percentage of your gross revenue every month, but some, like our company, charge a flat rate, Keuilian says. You need to make sure you know what youre expected to pay each month. He adds that its also very important to get, in writing, what service and support will be included. You want to know if theyll help with marketing, operations and tech support, he explains. What is your monthly fee paying for?
Along those same lines, Keuilian advises entrepreneurs to make sure they know how long theyll be obligated to stay with the franchise. Some terms are as long as ten years, so know what youre getting into and make sure youre comfortable with it.
Lastly, Keuilian urges business owners to consider whether their potential fitness franchise business stands on its own formula and brand or if its a copycat version of another successful brand or business model. Imitations dont last long, he claims. Make sure that youre with a company that has been around a while and whose brand will probably ensure that theyre still going strong in ten or twenty years.
About Keuilian Inc.
Keuilian Inc. (est. 2007) was founded by fitness marketing and business consultant Bedros Keuilian, who has been named the hidden genius behind several of the biggest names in the fitness industry. In addition, he is also the founder of the popular fitness marketing blog, PTPower.com, and founder and CEO of the indoor fitness boot camp franchise, Fit Body Boot Camp.
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