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How to Select a Health Franchise Category: Healthcare Franchise by - August 29, 2013 | Views: 17150 | Likes: 1 | Comment: 0  

Health Franchise

 

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Health franchises are a varied and dynamic portion of the franchise market, allowing for a broad number of products and services and leaving plenty of room for franchisee imagination. With the number of health franchises available, the first challenge is narrowing them down to the right choice. If you like the idea of a health franchise but are not sure where to start here are some tips. 

1. Choose An Area of Expertise

The health franchise market is big — very big. Start by thinking about your skills and choosing an area where your expertise will pay off. Do you want to start selling health and nutrition products aimed at those with active fitness lives? Do you want to offer home healthcare services to the elderly or those with disabilities? Do you want to start some type of fitness gym or sauna? Perhaps general fitness and cardio lessons is more your style. All these options and more are possible, so pick an area. Generally those that are more medically demanding — like home care will cost more but also pay more in the long term, while gyms and nutrition shops are easy to set up but may not offer the same profits.

2. Look for a Franchise With Plenty of Latent Demand

What does your area need? If your city or town is already crowded with typical health clubs and gym, you may need to pick an outside-of-the-box franchise to win customers. If plenty of nutrition and supplement shops exist in your area, consider switching to a more unique market niche. The health and wellness market shifts quickly, so examining current businesses in your area is an important step on the way to making a decision.

3. Find a Strong Brand

When picking out health services for their loved ones or choosing a gym or juice bar, people think a lot about the brand. Pick a brand that is recognizable and easily associated with quality of service and professionalism. Pay attention to the name, the message, the logo, and the colors used. Look for clean lines, "healthy" colors (like green, white, blue, etc.), and images that invoke wellness and care. Would you trust this service with your health and the maintenance of your gym equipment? If the answer is yes, you should consider moving forward. Ask friends for their opinions as well.

4. Look for a Capable Franchisor History

Once you have found effective brands, spend some time studying franchise history. If the franchise is new, it may not have a proven track record that will draw in customers — it will need to depend on innovative ideas and forthright marketing instead. A franchise with a long, dependable history may be able to generate money more easily, especially as you move into the health care side of the industry. However, newer gyms and nutrition shops may have high growth potential if they are exploring niches that have not yet been exploited. Studying the history of the franchises and related business will offer you important clues. Franchise and business sites often publish statistics on the growth rates of specific franchises  — this can also offer important clues.

5. Know Your Regulations

State and local governments often have regulations in place for health franchises, particularly those that use medical equipment and offer health care. Learn about the regulations in your area so you know what is expected so you are not blindsided by the required certifications, assessments, and licenses.

6. Research Fees

Fees are an important consideration for any franchise research. How much money does it take to start the franchise? How much will you have to spend on equipment or on your location and its maintenance? One reason the home healthcare franchise sector is so popular is that its initial costs are low and you do not need to lease or buy property. But every franchise comes with its expenses, royalties, marketing fees and other costs. Know them well and compare before making a decision.

About the Author

Andrew Ewing is a professional blogger that shares tips and advice about franchising topics. He writes for FranchiseExpo.com, a leading franchise directory. 

 

 



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