(ARA) - We hear it on the news every day - companies are tightening their belts. The current economic conditions have many people on edge when it comes to their job. People are losing their jobs and many more fear losing their jobs on a daily basis, shifts are getting cut and the opportunity to work overtime to make extra money is evaporating.
As companies look for ways to save money, more and more layoffs are likely to happen. Do you have a backup plan? Shawn Crawford saw the writing on the wall and decided that he needed to have one in place.
Crawford was the director of operations for a physicians group that had been rapidly expanding before the economy started to turn sour. That's when he decided not to wait until he got pushed out of his job as an executive. He did what so many people have dreamed of doing: he became a small-business owner.
Instead of starting your own business from scratch, why not open a franchise of an existing business? This option can be a safer way to go because you are becoming part of a proven operation. Most franchises also offer training and the experiences of others to draw from in working with a proven, well-known brand, as opposed to owners having to learn on the fly.
The challenge is finding the franchise that's right for you? You see fast food restaurant franchises opening left and right, but according to the International Health and Racket Sport Club Association, the average growth rate for these franchises stands at 20 percent. In contrast, the fitness sector's 5-year growth has been an impressive 144 percent.
There is a lot made of people needing to get healthier and more in shape, and there are a lot of health and fitness franchises out there to choose from. The one Crawford decided to go with was Snap Fitness, a franchisor of compact, state-of-the-art 24/7 fitness centers in the United States, Canada and India.
"The thing I liked best about Snap initially was their business model was pretty much turn-key," says Crawford. "Unlike a traditional business start-up, which would have required a lot of research, development and capital investment on my part, they did all the work for me."
Since the clubs started opening in 2004, nearly 2,000 have been sold, and Snap Fitness is ranked as the No. 1 Fitness Franchise on Entrepreneur magazine's 2009 Franchise 500 list. A Snap Fitness franchise is also easy to afford, manage, and market. More than 60 percent of Snap Fitness franchisees are absentee owners, which means you don't need to be there all the time.
The initial investment in a Snap Fitness may be as low as $65,000 and total costs, including start-up working capital, should be under $240,000. These totals include the franchise fee of $15,000. Financing is available through a lending institution of your choice or one of Snap's preferred finance groups.
If you've always dreamed of owning your own business, what are you waiting for? Become a
Snap Fitness franchisee and enjoy your work again.
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