Tips To Select A Health And Wellness Franchise Business The

1. Tips To Select A Health And Wellness Franchise Business The health and wellness franchise business in India is not only alive and kicking but growing at a fast rate. Many entrepreneurs are interested in operating this business and there is enough space for all. The choice between the wide array of franchise opportunities available in India now is mind-boggling. Just go through the list of yoga training institute opportunities available in India and you will be amazed at a number of such institutes. Each of these has different requirements and different target segments to suit all kinds of investors. This was just one type in this segment but there is a similar number of institutes for gyms, physiotherapy centers, diet supplements, ayurvedic therapies and so on. An investor has to carefully discern between them to narrow down his choice to a few where he will not only perform well but actually excel. To do this the one will need to understand his own capabilities and find a fitness franchise that will match perfectly. Businessman should consider the following points about a health-oriented franchise when scanning opportunities for viability. www.frantastic.in 1

2. Market: First of all decide upon the locations that you are willing to do business in. Ensure that the market has enough scope for growth and is not already saturated. The products and services that are in demand will differ in each market. Even in one location, the situation regarding demand and competition will differ according to the target segment. While some units target women, some target youth. The level of services or product quality desired by the target segment may need a higher level of skill and knowledge and even investment which can be feasible only for a segment willing to spend more. Understand your market thoroughly and investigate further for franchises in segments that are low in supply and high in demand. Interest: No matter what amount of finances you work out and no matter what the market surveys say, your interest will matter the most. Every person has an interest and a knack for certain subjects and can naturally perform better in that field. If you are not at all interested in understanding the concepts of Ayurveda, it is not advisable for you to consider a related commercial venture in ayurvedic therapy. Be honest with yourself. If you are interested in nutrition but the market trends of related franchises are not encouraging, you will still be able to create a niche market for yourself in that sphere of the wellness business. Hence it is important to look inwards and know your calling. Investment: Different health and wellness franchises require different infrastructures such as space and equipment and working capital to pay skilled trainers. There will be training in to update the skills of the investor and human resources involved. This will raise the regular financial inputs in the business apart from royalty and marketing fees. Make an assessment of how much you are willing to invest initially and on a regular basis. You will need to find a franchise that will be in accordance with your capacity to invest. While considering the possibilities also enquire about the preferences of financing institutions like banks so that you can easily avail of a bank loan. www.frantastic.in 2

3. Resources: Apart from investment, the major resources in a fitness franchise will be skilled service professionals. It will be necessary to have a staff of trainers and service professionals who will be stable because of the high investment in training required by these entities. Building a stable clientele will also require stable service staff to assure them of comfortable and quality service. Ensure this consideration before you decide on a particular franchise. www.frantastic.in 3

4. Rigorous training: As mentioned earlier, consider the fact that a center requires a lot of rigorous training for the staff. The frequency of training implies that you need a lot of staff to account for the training. You should be confident of assembling a staff for the franchise that will always be eager to learn more about this business. To keep ahead of times is the way to avoid completion and go profitable in this sector. Marketing: The health sector relies a lot on marketing to capture the attention of the target segment. If a franchise is not able to position itself correctly than it cannot reap the benefits of marketing. Extensive and targeted marketing is highly essential to the profits of a franchise. Because of this reason, it is essential to observe the marketing tactics employed by such a franchise. Efficient marketing by a franchisor will justify the marketing fee that you will have to bear on a regular basis. You can also find out about the adverting policies of different health and wellness related businesses. Emerging trends: Before making a decision about investing in a franchise study the emerging trends in the market and also in the business. For example, there was a time when exercise and yoga were for free time but today there are one-stop health centers at work where you can work out and eat healthily. The market moved from home to work. The emerging market consisting of youth are more aware of healthy food and lifestyle choices, still, they more seeped in an unhealthy lifestyle. They do not aspire for guidance or training about a healthy lifestyle but wish to be engaged in a healthy lifestyle in an engaging and fun way. The considerations regarding the future are many in this emerging business but the opportunities are also vast. Tie-ups: A health and wellness center that has tie-ups with other businesses will ensure more clients. For example, medical insurance companies have tie-ups with franchises to ensure that their own clients are encouraged to avail of programs due to a discounted price or special benefits. Some franchises have tie-ups with corporate for their employees. Such an imaginative studio in the right location is sure to click. www.frantastic.in 4

5. Community engagement: Activities of engagement with a community increase brand recognition and acceptance. Activities like local marathon races and bicycle tours encourage individuals to focus on their health and approach professional health and wellness service providers. Mental health and attitude are also increasingly accepted as a part of holistic health and wellness. This is also one aspect of community engagement wherein individuals get to interact with other positive minded activities. Thus, it is advisable to prefer a business that has a high level of community engagement. The Business opportunities in the wellnessunits in India are vast and lucrative. A careful choice that will represent your interests and nature while considering important aspects of business such as marketing, investment, human resources, and collaborations should be made. If you think that you fit in the business of a health- oriented franchise, invest time and effort in finding a perfect match before investing your money. A health and wellness business that takes holistic care of individuals and helps in raising the health standards of the community is the need of the hour in India. www.frantastic.in 5