Tips For Owning A Health And Wellness Franchise Using Franchise CRM Software
For decades, franchising has given a helping hand to entrepreneurs to map out a promising career path, be their own boss, and develop a strikingly new business from the ground state. Franchising business draws a lot of attraction because it permits you to take advantage of a well-proven business model coupled with a support system. It allows you to do so with more confidence even when you start from scratch.
After you have settled on investing in a franchise business, the subsequent step lies in determining the industry type you’re keen on building your franchise in. In every sector, there are numerous franchising opportunities. However, as a potential franchise owner, you’d want to find out that perfect meeting ground between market demand and your interests.
If you aspire to be an entrepreneur that preens on a healthy lifestyle, you’d want to come to the aid of others in doing the same. In that case, a health and wellness franchise will be the ideal choice for you. Even though many things need to be considered while deciding on the exact franchise to put money into, here are four valuable tips you may take into account to be the owner of a health and wellness franchise. In addition, we’ll find out how franchise CRM software can be of assistance to the growth and expansion of the franchise.
Make sure your business catches the eye of potential customers.
When it comes to consumers, they put their well-being as the foremost priority. In current times, this is obvious more than ever before. And, franchise brands are observing rapid growth by making the most in this space. They pick up new customers that are willing to spend money on the offered health and wellness services.
Franchise CRM software helps you know a little extra about your prospective customers and empowers you to send them personalized messages to join forces with your franchise and provide additional value right from the start. Franchise CRM software makes it possible to keep track of contact details, personal history, and correspondence history from the very beginning. You can leverage these details for creating resonant, captivating messages for the individuals.
In recent years consumers are found to shell out more than 100 dollars per month to keep them fit through personal training, group fitness sessions, and creating their own lifestyle routine. The global wellness industry currently stands at 4.5 trillion dollars. It’s expected to grow by a historic 40 percent by 2023. Therefore, there are lots of opportunities for growth short of any hyper-competition.
In line with this thought process, you need to remain focused on offering excellent products and/or services to stay on top of the competition game. If you’re an established brand, franchisees have the added advantage to gain access to the huge marketing and support system rendered by the parent brand.
Be cautious about fads.
Even though you adopt disruptive technology to build your business, make certain it complies with the fitness industry to make a more insightful and meaningful one-on-one relationship with a professional. In addition, the proviso that the fitness and wellness industry maintains consistent stability and attracts customers to a given location, landlords are in favor of providing these services in sprawling shopping malls or large commercial complexes. This comes to your help in securing a highly advantageous site.
The franchise CRM software you use at these favorable locations can be customized so that it allows your team members to set up smooth, conflict-free interactions with one another for closing sales or resolving customer concerns. You can put this into action by sharing appropriate documents with your team by employing cloud-based directories or a franchise intranet. Plus, you can set up chat sessions for plain-sailing collaborations in real time. In this manner, franchise CRM software facilitates salespeople to share company-adopted best practices.
If you want your business to be stable, you need to note that with any speedily developing franchise, you’d like to be cautious in avoiding highly prevalent fad options in the market. Many of them wind up being a flash in the pan. Therefore, you need to safeguard your business by investing in a brand and franchise CRM software that have been around for many years with a proven track record of reliability and success.
Offer highly sought-after services.
Do some research on fitness categories that have constantly been in demand over decades. This will help you avoid ending up in a short-lived fad business. Personal training is one such category that keeps on thriving with every passing year. Personal trainers are always in demand that in turn has consistently grown in the last few years.
Franchise CRM software helps your personal training professionals to get rid of mundane administrative busywork so that they get more time to devote to their clients. Franchise CRM software makes it simpler to find out the necessary information about their clients before, in the course of, or after their phone calls. It leads to sizable time-saving in the long term.
Nowadays clients, more than ever before prefer the personal training option since it comes up with thorough levels of customization in congruence with their individual needs and condition. Apart from working out, people are more concerned about their general well-being and with the desire to grow a personal relationship with their trainers that understand their requirements and can be held responsible to fulfill client goals. These are constructive reasons that will encourage consumers to keep on opting for a personal training type of service.
Expand your consumer base.
Consumers that are interested in receiving health and wellness offerings usually come in two distinct segments. They have widely varying goals and needs. Firstly you have the baby boomers generation that’s keen on increasing their mobility and improving their quality of life as they continue aging. As a cohort, baby boomers in the US, spend more than 50 percent of their discretionary expenses on personal training.
Next, come the Millenials who consider health and fitness integral to their lifestyle. They’re eager to pay as much as it demands to meet their goals. A significant chunk of Millenials belongs to the “coming of age” category. They earn a regular income and like to spend the money on personal training as well as group fitness. As a matter of fact, a considerable part of the franchise market is centered on consumers aged between 18 and 34. Also, nearly 20.5 percent of overall revenue earnings of health and wellness franchise is contributed by this segment.
Franchise CRM software comes up with valuable insights equally for both franchisors and franchisees while they meet and interact with the two consumer segments. The software helps in gathering vital information on the performance of personal trainers and conversion rates of leads into clients on both individual and team basis. To put it simply, having franchise CRM software by your side you can see the exact performance of your business and gauge its productivity. This acumen is invaluable for your franchise in the competitive arena whereby you can identify leaks in efficiency and add finesse to the offered sales processes and customer service.
The two generations are only a sample size to estimate franchise performance. The demand for health and wellness has extended to Generation X as well as the older cohort of Generation Z. Since the overall consumer pool is massive, you need to be careful in catering to each segment with their corresponding appropriate services. So finding your niche becomes imperative. Also, see to it your core consumer base considers you to be an expert in relevant categories.
Eventually, deciding whether a health and wellness franchise is perfect for you is conditional on several factors. After all, it’s crucial that you find the real passion in you to realize whether health and wellness fit into your space.