Best Fitness Franchises for 2024

The CDC estimates that approximately 70% of Americans are considered overweight. Furthermore, 36% of U.S. adults and, approximately, 17% of children and adolescents out of this overweight 70% are considered obese. These numbers are encouraging more and more Americans to flock to gyms. Approximately one in five Americans are paying for a membership. A vast American population is looking for ways to get in shape, and the demand is projected to increase in the coming years. In this article, we will review gym franchises, discover the fitness franchise industry trends, and discuss the 5 best fitness franchises for 2023.

Gym Franchise Review

Most of the franchises in this sector are fitness facilities of some sort. There are also increasing amounts of sport-related franchises that support the business of staying in shape by encouraging members to participate in athletic games and activities. This has increased demand by introducing a different demographic to the gym franchise scene, which assisted franchises in their goals of expansion. Gym and fitness-related franchises are expected to grow exponentially as this market increases.

Fitness Franchises Trends

One of the newest and most exciting trends in the fitness industry is the insertion of gyms into workspaces and vice versa. With this trend, gyms are attempting to monetize Americans’ recent gravitation towards productivity by opening office space within the gyms. During the standard working hours of the weekdays, many traditional gyms are relatively empty. By inserting gyms into workplaces and workplaces into gyms, gyms will gain a new clientele and new revenue stream.

Fitness franchises and gym franchises are some of the fastest-growing parts of the franchising world. Over the past few years, the gym and fitness industry has benefited from multiple public health initiatives that have proved the importance of fitness in overall health and wellness. Due to this health-conscious social climate, the number of gym memberships has been growing steadily.

Gym and fitness franchises in the United States account for a $4 billion annual revenue, and the overall Gym health and fitness sector accounts for an estimated $34 billion.

Key Data According to SBA

According to SBA franchise loan data, the industry has a 30.6% Paid-in-Full Rate. The Paid-in-Full Rate is when the SBA loan is fully paid off by the franchisee including interest, indicating financial strength. Also, the industry has a 3.6% Charged Off Rate. The Charged Off Rate is the SBA loan default rate where loans have no confidence in being paid off by the franchisee. Finally, this industry has an 8:1 SBA loan success ratio.

Average Fitness Franchise Industry Percentage Fees

5 Best Fitness Franchises for 2023

Planet Fitness

Planet Fitness is a good gym franchise to get into the fitness industry, especially with the help of the franchise team. This fitness franchise’s main goal is to provide the best possible service to its customers. As a Planet Fitness franchisee, you will be supported with marketing support and ongoing training, in addition to access to all the system methods of the company.

Club Pilates Franchise

Club Pilates is a gym franchise that has a goal to welcome customers of all ages to experience being fit and healthy while having fun. This gym franchise will provide its franchisees with everything they need to start their business and ensure their success. They support you, the franchisee, by providing you with things such as ongoing training, marketing support, and certifications if needed.

Orange Theory Fitness

Orange Theory Fitness is one of the most profitable franchises and continuously growing in the wellness and fitness franchises. It’s renowned for its unique training and fitness approaches. Also, they use a wide array of new technologies, a breadth of industry expertise, and coaching while staying on par with the increase in athletic science. There’s a highly modernized approach to its business and fitness model as well as to its brand identity; which makes it one of the best fitness franchises to buy.

Burn Boot Camp

Burn Boot Camp is a fitness franchise that aims to offer its customers the best possible way to stay lean and healthy while having fun. This franchise will try to ensure the success of your franchise. For example, as a franchise, you will be supported by a marketing team, operational support, and ongoing training.

Pure Barre

Pure Barre is a fitness franchise that uses ballet as a full-body workout that burns fat and shapes muscles. As a franchisee, the company will provide you with all kinds of assistance starting from marketing support, site selection, ongoing training, and comprehensive sales support. This fitness franchise is one of the fastest-growing fitness franchises in the industry.

Conclusion

In conclusion, the fitness franchise industry is a very promising industry in that you can buy your own franchise with confidence. There are different fitness franchise trends that you should keep following as you consider buying your own fitness franchise. In this article, we reviewed gym franchises, learned about the fitness franchise industry trends, and discussed the 5 best fitness franchises for 2023. Now it’s up to you to make your decision as you start your entrepreneurial career.