Building a successful fitness franchise business isn’t always easy, but it’s definitely possible if you follow the right methodology. Successful Club Pilates and YogaSix owners offer practical advice for franchisees
Beth George, a former college professor, opened her first fitness franchise seven years ago and now owns several Club Pilates and Yoga Six locations in California under the parent brand Exponential Fitness.
My husband and I opened our first Club Pilates studio in Foothill Ranch (Orange County, CA) seven years ago and it was a challenging journey. We initially planned to open just one studio and it was just a hobby for me. I worked full time as a college professor and wanted a business that would allow me to earn some extra income while sharing my love of Pilates.
It’s been seven years since I opened my first studio and my mission and business have changed a lot. I now have five studios with another one on the way. We’re not done expanding yet, but I’m so happy with the success I’ve worked so hard to achieve. I retired from my full-time job and now run my business full-time.
Here are my tips for success in the fitness franchise business.
You don’t have to be an expert in everything. Trust the people around you.
I mention my background and history because it gives me context for my success. Having one successful studio is much different than having six successful studios. The best plan for success, especially as a franchise owner, is to learn from those who know more and have been more successful.
For me, that means relying on the corporate team at Xponential Fitness. I’m not a marketing expert, but we have experts in our corporate offices. Whether it’s Club Pilates or Yoga Six, each corporate office has the best and brightest experts in their field. If I need help building out my studio, I rely on the corporate development team.
It sounds simple, and to some extent it is. Don’t reinvent the wheel. Don’t go it alone. Follow a plan that’s worked for many other studios. That’s why we invested in franchises, because corporate teams have a winning strategy.
Build a community for insights
I often ask other business owners for advice. I have a core group of owners that I speak to frequently. Some are in the same industry, some not, but we all experience similar issues in business. We often share ideas and ask each other for help when we need it.
Make sure you put your ego aside and ask for help when you need it – the more you surround yourself with people who know more than you, the better off you will be.
Developing your team and helping them realize their dreams
When you only had one studio it was easier to “do it yourself,” but when you have five, six or more locations, the owner can’t do it all.
Hire great, coachable, personable, trustworthy people to run your studio. As an owner, you can’t just sit back and watch. You need to follow up, monitor, and lead your team. But hire the best people you can and make them thrive within your business structure.
Know what is important to your staff, especially your key employees. Doing so will help your business grow and thrive. I love promoting from within. Spend time with each key employee and find out what they want more than just a job. Do they want to learn how to run a business? Do they want a flexible schedule? Think about what dreams they have for their career and life and go for those dreams. I have found that employees who know they are valued and praised definitely work harder.
Define what success means to you
As a business owner, take the time to define what success means to you. Is it being at the top of your company and winning all the promotions? Is it having flexibility in your schedule, traveling and being away from work every now and then? Is it building a legacy and generational wealth that you can pass on to your children and family? Once you know your definition of success as a business owner, you’ll know where to focus your energy. And don’t forget to take time away from your business to recharge. You’re not serving anyone well if you’re sick or burned out.
My most important weekly tasks:
- Communicate with your manager to evaluate your goals, and if you are not reaching them, develop a strategy to achieve them.
- Review your finances every two weeks. Review expense/income trends. Anticipate upcoming large expenses. Monitor cash flow and review account balances.
- I try to visit each studio at least once a week or two.
- Register for any networking events you want to attend.
- Take a day off. Or take two half days off. Plan a date with your husband.
My important daily tasks:
- Take a look at the revenue figures for each studio.
- Read the email from your manager regarding the overnight report.
- Monitor my personal email.
- Take a Pilates class.
- I also spend time each day reading books on leadership, business and personal growth.
5 traits of a successful fitness franchise owner
- AdaptabilityGet used to being uncomfortable. You will be challenged. You will be defeated. You will want to give up. I joke that I regularly fire myself and rehire myself almost immediately. You will be pushed out of your comfort zone. The more you learn not to take things personally and not get upset, the better you will be able to adapt to the ever-changing environment known as entrepreneurship.
- Willingness to learnTo me, this is one of the best things about being a franchise owner. I love to learn. Before I opened the first Club Pilates, I didn’t understand the financials of a business. I didn’t even know how to read an income statement. But I learned. I wasn’t afraid to admit I had no business experience. I didn’t have an MBA. EBITDA was an acronym I didn’t understand. But now I do. My advice is to find people on your corporate team or other studio owners who can help you. Ask other business owners. Take classes. One of the best things I did for my business was the Goldman Sachs 10,000 Small Businesses program.
- Customer KnowledgeYour customers are at the heart of your business. Make sure you really understand what they want. Watch out for signs that your customer base is changing. Provide the best customer service possible. Good customer service is on the decline in many companies and business sectors. Train your staff so they can provide the level of service you require.
- toughnessMy motto is “Failure is not an option.” My husband and I joke that my superpower is that I’m willing to work harder than just about anyone. You may have to work hard for a few years. You may have to suddenly pivot. We survived the 2020 COVID shutdown by pivoting to what we could control. I’m also grateful to the Xponential corporate team and former CEO for providing resources and advice during a very difficult time and helping us get through the shutdown.
- A positive visionI am an incredibly positive person. I always see things as half full. It annoys my husband. I believe that my positive attitude has led to the growth and success of our business. I think it’s important to create a positive atmosphere in business. My growth goals are ambitious. I don’t always achieve my goals, but I keep moving forward. I love to celebrate success in business. I love to praise employees who do great work. The tone you set in your company is conveyed to each and every employee, customer, and business partner. Business is much more enjoyable when you see the positive and growth opportunities behind every obstacle in the path.
Should I buy a fitness franchise?
Not everyone who buys a franchise will be successful. Spending a certain amount of money doesn’t automatically mean you’ll be rewarded. Starting and running a franchise is hard work, just like any other business.
According to data from the Bureau of Labor Statistics, about 20 percent of small businesses go bankrupt within the first year. By the end of the second year, 30 percent go bankrupt. By the end of the fifth year, about half go bankrupt.
You work the hardest in the first year. You continue to work hard in the second year. And never take your foot off the gas, because your business depends on it. But as you get better as an entrepreneur, you’ll understand what work you need to do and what you can delegate to your team.
If you’re looking for a franchise to consider buying, I encourage you to buy one that you’re passionate about. Sure, some people buy it to fuel their love of money. But I’ve found that if you’re passionate about the work you do in your business, you’ll enjoy the work a lot more. And that’s the ultimate success: making big bucks doing something you love.
