In this episode of Industrious Radio, Jerbear and Steveo discuss the critical topic of selecting the ideal location for an Industrious gym franchise.
The Importance of Location
The hosts emphasize that location is the cornerstone of any successful brick-and-mortar business, especially in the fitness industry. The right space not only needs to accommodate gym operations but also attract foot traffic to ensure profitability. Jeremy, who is currently on the hunt for a new franchise location, shares insights from his ongoing search.
Challenges in the Search
Finding the perfect site comes with its challenges. Jeremy notes that various factors can complicate the selection process, from city zoning regulations to structural limitations of potential spaces. Although the process can feel overwhelming, persistence is key. He likens the search for a franchise location to buying a house—filled with highs and lows but ultimately rewarding when the right spot is found.
Characteristics of an Ideal Location
When scouting for a location, the hosts recommend focusing on the following key characteristics:
- Demographics: Target areas with a high population of individuals aged 25 to 45, as this age group is most attracted to Industrious fitness programs.
- Proximity: Ensure that your target demographic lives within a ten-minute drive to maximize accessibility.
- Income Levels: Aim for areas with average household incomes between $100,000 and $150,000 to attract financially capable clients.
- Anchor Tenants: Look for spaces near large anchor businesses, like grocery stores, to drive foot traffic.
- Aesthetic Appeal: The location should feel inviting and have a positive atmosphere, which is crucial for client retention.
The Negotiation Process
Once a potential site is identified, engaging in negotiations with the landlord is essential. Jeremy suggests being flexible in discussions and exploring options like tenant improvement allowances—where the landlord invests in upgrades to the space. He emphasizes the importance of collaboration, encouraging franchisees to aim for a win-win situation during negotiations.
Timeline and Planning
After securing a lease, the timeline for opening can vary based on the city’s permitting processes. The hosts advise franchisees to hire an architect early in the process to streamline approvals and ensure compliance with local regulations. Understanding zoning laws is crucial, as operating a gym in a space not designated for fitness could lead to significant setbacks.
Conclusion
The episode concludes with encouragement for prospective franchisees to actively engage in their location search and reach out for support. Jerbear and Steveo reiterate that while the process can be challenging, determination and strategic planning can lead to finding the perfect location.
Listeners are invited to take the next step in their franchise journey by locking in their territory and starting the search for their ideal gym location. Explore the possibilities and join the Industrious community today!
