How To Find the Right Franchise Fit for You with Matt McCollum of BODYBAR Fitness

BODYBAR Fitness is a budding pilates studio out of Texas with locations in Dallas, Plano and Fort Worth. Founded in 2012, this franchise spent years tweaking and perfecting its system into the sophisticated business model it began franchising throughout Texas in 2019, with now-CEO Matt McCollum and his wife, Kamille, as some of the brand’s first franchisees. The McCollums’ location performed so well, the two eventually began leading BODYBAR’s franchise efforts and from there, grew into full-fledged franchisors of the brand.

Matt McCollum spoke with 1851 Franchise about what questions franchisees should ask themselves when looking to make a franchise purchase. What should prospects know about themselves or ask themselves before they actually start their search in order to find success? What steps can future franchisees take to arrive at the brand that's the best fit for them?

McCollum cut right to the chase. “The first question I’d ask myself is if I have the grit to sustain a bad season in business,” McCollum said. As anyone who has been in business knows, things aren’t always easy, especially at the beginning. One benefit of franchising is that the support of a franchisor gives first-time business owners a huge head start in terms of capital, resources and more. At the same time, that doesn’t mean challenges won’t happen along the way, especially in the incubation and first stages of a new business.  

“We all enter into an entrepreneurial opportunity with excitement and the best laid plans, but real life doesn’t play by our playbook,” said McCollum. Even several years into a successful franchise, franchisees could experience setbacks, and McCollum stressed that handling these with grace and integrity is the key to having longevity in franchising. “Inevitably in business you will have a bad season, and you need to know you have the capabilities of withstanding, pushing through and coming out on the other side a little wiser than before,” he continued.

“Next, it's important to identify if you are a ‘doer, ‘delegator’ or ‘overseer,’” McCollum said. “There are some great personality tests out there to help you better identify what your ideal role is, and I would encourage any franchisee looking to get into a new business to take them”

McCollum went on to break down the three basic types of business owners. “The Overseer is really more interested in an absentee business where they can continue doing their current job, but oversee that their investment is in good hands and growing,” said McCollum. “The Delegator is engaged, but not on the front lines. They are sometimes semi-absentee and sometimes an owner/operator whose strengths are more in analyzing and adjusting course than actually doing the day-to-day. Lastly, the Doer is the person who wants to be in the trenches. They want to know their customers by name and put their personal stamp on the business.”

McCollum cited his wife and business partner, Kamille, as a great example of the ‘doer’ personality type, whereas McCollum himself identifies as more of a delegator. “If you are going to have business partners or employees, it’s important to know where you are most comfortable and make sure that you are all aligned,” McCollum said.

“Finally, I’d make sure you are in a position financially to leverage debt, and not utilize all of your liquidity to get started,” McCollum concluded. “Many times people consider debt a bad thing, but when it’s used to build a profitable business that has resale value, it is a great way to protect your hard-earned liquid assets and keep you protected for the rainy season around the corner.”

If you’re a prospective franchisee looking to get started in the industry, don’t hesitate to heed McCollum’s advice. Meeting with a franchise consultant can also be a great way to streamline these steps in the discovery process, and figure out just what franchise is the right fit for your future.