The tough questions you need to ask a franchisor

Investing in a franchise is a big decision and for many, it will involve weighing up several different opportunities.

Whether you’re looking across different sectors within franchising or talking to competitors in the same industry, asking tough questions is a must to see if it’s the right investment for you.

Currently in the process of searching for your next investment? Snap Fitness EMEA Franchise Sales Manager, Vaughan Maiden, lists the tough questions that you should be asking:

1. Have any locations failed or closed within the last three years? If so, why? – this is something that’s vital to know. While franchising gives you a significantly higher success rate than going it alone, franchisors still endure closures. A high turnover or closures may indicate issues with the franchise’s product or model. We’re proud to have no gym closures across the UK & Ireland since the end of the COVID-19 pandemic.

2. Can I meet with your franchisees? – if you’re considering becoming a franchisee, it’s incredibly valuable to speak with people already in that position. You’ll gain an insight into the day-to-day running of the business and hear their real-life experience with the brand. As part of our franchisee recruitment process, we actively encourage you to independently visit our existing locations and speak to franchisees and teams.

3. How do you adapt to the changing market? - you need to know that your investment is future-proof. Quiz your potential franchisor on how they’re planning to stay ahead of the market and ensure that your business has longevity. You want a franchise that’s proactive and always looking forward. Generation Z are key to the growth of the fitness industry and we’ve invested significantly in our member experience and smartphone app, as well as creating signature group exercise classes which they can access inside and outside of the gym.

4. How many of your franchisees are multi-unit owners? – a strong indicator of success and positive franchisee sentiment is how many franchisees own multiple locations. If this is a high percentage, franchisees are willing to reinvest and indicates they’re enjoying a strong return on investment. At Snap Fitness, over 60% of our franchisees are multi-unit owners and continue to scale their investment with us.

5. What’s your support structure and how accessible are they? – franchising is attractive due to the fact you’re in business for yourself, not by yourself. Quiz the franchisor on the support you’ll receive and what different departments and personnel that you’ll have access to. Our support office team collectively have vast knowledge and expertise across the fitness industry and their specialist areas, meaning no fitness industry background is required for franchisees. 

6. What’s your strategy for maintaining and increasing brand awareness? – you’ve invested in a franchise to leverage an established brand. It’s important to check for consistent marketing support and branding efforts, which benefit franchisees and aim to increase brand awareness. 

By asking these tough questions, you’ll get a clearer picture of the franchise and if it’s the right opportunity for you. What’s more, you’ll gain a clearer understanding of the risks, rewards, and level of long-term commitment involved in operating a successful franchise.

Considering becoming a Snap Fitness franchisee? Request a free franchising information brochure at https://www.snapfitness.com/uk/why-franchise-with-snap-fitness.