Franchise Information

5 Things You Need to Know Before Buying a Dog Franchise

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Most people are nervous when buying a franchise, especially if this is something they have never done before. This can be a difficult decision and one you should not approach lightly. If you are still in the early stages of the franchise buying process then there are a few things you will want to keep in mind so you can ensure that buying a dog franchise is in your best interest.

 

No Franchise Model is Perfect

Sure franchising is as close to perfect as a business model can get. You have a company that has been successful on their own give you their blueprints and use their name so you can be successful with your own dog franchise. It doesn’t get much better than that. However, you need to remember that no business is ever perfect. Some franchise plans will not be perfect because of your market, because of the way you implement it or maybe even because of trend changes. This does not mean the franchise itself is bad. You do want to watch out for issues with the franchise model before buying though.

 

Even Franchises Can be Risky

The reason franchisors are not allowed to give you even an indication of what you will make as a franchisee is because there is no guarantee with franchising. While you may have a blueprint for success, there are times it can fail. This may be less risky than opening up an independent store, but it does still carry some risk. This is why you need to have an exit strategy so you will be prepared if things do not turn out right with your dog franchise purchase.

 

People Get Paid When You Buy a Franchise

Now obviously the dog franchise will receive their franchise fee, but this is not the only way that people are making money when you buy a franchise. For one, you should hire a franchise attorney to go over the FDD. You will also want to hire a CPA to look at the financials set forth in the FDD and your financials to ensure this will be a good investment for you. Then there are other people who may get paid in this process, such as a person that referred you to the franchise. While this may not impact you a great deal, it is still something you should know before you pull the trigger on your franchise purchase.

 

This is Not an Overnight Process

Some people think they can just look through some websites and then choose their franchise. Simply place an order like on Amazon and have their business in a couple days or weeks. This is not the case. You will need to take the time to talk with the dog franchise. You will go through their franchise buying process which will require you to provide information, fill out forms, schedule meetings and more. This can take weeks or months. In addition to this, the process of opening the franchise once you have bought it can take months as well.

What Makes an OrangeTheory Fitness Franchise Different Than a Gym?

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There are so many things to consider when it comes to opening a franchise, especially within the fitness industry. You want to make sure you go with a franchise that is trendy and well known. Yet you don’t want something that will cost an arm and a leg, making it hard to break even. If you are considering an OrangeTheory Fitness franchise you should understand how this relates to other franchises in the industry. This will help you figure out whether this is the right option for you.

 

OrangeTheory Fitness franchise is Not a Gymnew-results

The first thing to understand is that OrangeTheory Fitness is not a gym. Yes they have gym equipment but it is all done in a group class setting. This is one aspect people either love or hate about their franchise. Some people find this motivating. Others find it frustrating as they like to work at their own pace. Or maybe they just don’t want others watching them workout.

 

The Benefits of the Franchise

There are a few cool aspects of an OrangeTheory Fitness franchise that customers can’t seem to get enough of. This is obviously the people who have come in for their free one hour session. They may be members or even just undecided. These are the things they enjoy most about the franchise.

 

  • Online Scheduling- Customers can easily schedule their sessions online. This makes it convenient and something they can do on their time.
  • Ability to Choose Instructor- One benefit of online booking is the clients can see who the instructor is. This allows them to choose their favorite instructor or steer clear of one they didn’t like.
  • The Heart Rate Monitoring- This is where the name of the company comes from. The orange zone of the heart rate is where a person is burning fat. The point of the classes is for each person to work to stay in orange zone on their heart rate.
  • The Ability to Work at Own Level- No one likes to have to keep up with others. More than that it can be hard if someone is falling behind. This is where the OrangeTheory Fitness franchise model helps because each person does the workout at their own ability. As long as they are within the orange zone, then they are where they need to be. Even if the person next to them is doing twice as much.

 

Is This Really The Best Option for a Franchise Purchase?

An OrangeTheory Fitness franchise is a great option for many people. If you have a passion for the fitness industry you may be a good fit. You will also need plenty of money. The costs to open can be more than three quarters of a million dollars which is not a small amount of money. This is because of the costs associated with purchasing the equipment, the space for the location, and more. If you are in an area where this has not been introduced yet then you may have a hard time selling people on the idea which means it can take a longer time to build up a regular clientele base.

 

What Other Options Are Out There?

john_n_story_pic-smIf you are looking for a franchise that has revolutionized the industry the way that an OrangeTheory Fitness franchise, then you should consider Splash and Dash. They offer a bath and brush membership to bring more people into the store as well as a boutique with quality dog items. The company is known for their love of not only pets but their pet parents as well. The goal is to make every person and pet feel like a member of the family. It is also an Inc 500 company. Along with this, the startup costs are only a fraction of what an OrangeTheory Fitness franchise costs are.