Franchising is one of the most popular ways of operating a business. Distributor

Question

Franchising is one of the most popular ways of operating a business. Distributorships and business format franchises are the most common types of franchise arrangements. In distributorship, the franchisor makes a product and grants distributors a license to sell it. In business format franchise, the franchisor grants the franchisee the right to make and sell its good or service.

ASSIGNMENT:

Franchises are hugely popular ways of entering the market for a product or service. Take a look at the link to Entrepreneur Magazine: https://www.entrepreneur.com/franchises  (Links to an external site.)

Select a franchise that you would be interested in opening.

1. Tell me about the franchise and why it is interesting.

2. What would be the benefit of owning one of these franchises as opposed to going it alone with your own idea.

3. Do some research on the company and describe the feedback from current franchise owners.

Explanation / Answer

1).The franchise I have chosen is Fitness Revolution. It is a fitness club with personal training for weight loss, fitness and muscle building. It has over 140 well established outlets. It is interesting because there is no need for a business owner to develop a fitness plan according to each and every customer. This will be taken care of by the network of fitness professionals in the franchise. There is a very minimal investment cost.

2. The benefit of owning one of these franchises is the fitness trainers with expert knowledge that come with the franchise. The cost of finding trainers, developing individual workout routines, brand value, advertisement is either taken care of or is already established. Thecapital investment is low as in many cases large open spaces have been used as opposed to setting up a builiding for the fitness club. Fitness Revolution provides you with all the technical know-how and marketing solutions.

3. Fitness Revolution was started by Nick Berry and Pat Rigsby after spending years in the fitness industry. The company is based in Kentucky and is a chain of fitness training franchises. Franchise satisfaction awards are given each year by Franchise Business Review. Fitness Revolution won the top franchise award in the year 2013. Franchise owners are largely very happy with the business as they have relatively less work to do as compared to starting one's own fitness club. Many say that this is a wonderful brand to be a part of and the idea of such a fitness club 'revolutionary'.

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