Always been interested in starting your own Pilates business? We’ve collected some of the most common questions investors have so you can find the information you need.
1. How can I finance my franchise?
This will depend on your personal financial situation. You can either fund your venture with personal capital, or use a business loan to borrow the money. Many banks are willing to lend up to 70 percent of the start-up cost, as they know franchises are less risky than other business models.
Bootcamp Pilates says: “We have already provided detailed information to the specialist franchise departments of: HSBC, Lloyds, and NatWest, so when you approach the bank of your choice, they’ll already know about our success!”
2. What help can I get to recruit good staff?
The fitness franchise’s Management Training course gives you all the tools you need to find and recruit the right employees, as well as manage any statutory and financial obligations. If you find there’s a lot of information to take in, you’ll be able to take the franchise’s handbooks on HR and other policies away with you.
You’ll also get the chance to share tips and strategies with other franchisees and the franchising team at the regular Bootcamp Pilates management meetings. And, of course, you can always rely on support from the head office.
3. How important is corporate image?
As you can imagine, corporate image is incredibly important. A professional and consistent brand identity will help franchisees build trusted businesses, so it’s vital you play your part. Do this by using the BCP logo and corporate colours in your studio and promotional material.
4. Will BCP help me choose my location and studio?
Of course! You identify your geographical area before the BCP team offers advice about suitable locations within that region. Then, you’ll get help with setting up your unit. BCP says: “We can assist with sourcing builders, decorators, carpet layers, etc, to ensure that you get off to a flying start.”
5. Is my success guaranteed?
Unfortunately, success can never be guaranteed, no matter which franchise you join. However, BCP is prepared to provide all the support you need to reach profitability. The franchise says: “It’s in our best interests for you to succeed, so we’ll be there to help you all the way.”
Alice Tuffery, Point Franchise ©