Fitness franchising exploded in 2018, with “health and wellness” emerging as one of the segments most likely to succeed in 2019 and fitness franchises across the nation expanding in unit numbers and reach. Within the larger category of health and wellness, however, boutique fitness studios—that is, smaller gyms with offerings tailored to a target demographic and resistant to a one-size-fits-all approach to fitness—have clearly led the pack.
Enter REGYMEN Fitness.
“REGYMEN Fitness is unlike anything that exists in franchising right now. In today’s market, fitness trends are leaning more toward boutique and niche offerings, meaning now is the ideal time for REGYMEN Fitness to emerge as the challenger brand,” said the franchise’s President Tom O’Keefe.
To dig a little deeper into just what makes REGYMEN such a strong investment, here are the top five reasons to buy a REGYMEN Fitness in 2019.
Reason 1: Unique Offering Driven by Heart Rate-Based Monitoring
Director of Franchise Development for REGYMEN Fitness Nick Binnings explained that REGYMEN Fitness operates on three interlocking pillars—“Burn,” “Box” and “Build.” The fitness concept combines high-intensity interval training (HIIT), strength and weight training plus boxing for a unique experience that fights against “workout plateau” so that members continually see results.
“If you look at [the industry] right now, you’ve got people doing spin, boxing, boot camp, crossfit—but nobody has the three particular workouts that we do, all under one roof,” Binnings said. “There are other companies with multiple things under roof, but we have the most popular workouts under one roof.”
And that’s a major customer value proposition: visitors looking for variety, efficiency and results need not shop around from one lifestyle-inflected studio to the next—they can find everything they need at a single REGYMEN location.
Furthermore, REGYMEN utilizes science to maximize the value of their approach to fitness: classes all use heart rate-based monitoring (members purchase a heart rate monitor with their membership). HBM lets visitors spike their heart rate at target times during a one-hour workout class, maximizing their calories burned and capitalizing on the anaerobic benefits of high-impact interval training (HIIT). That means more efficient workouts with more fat burn than those offered by competitors.
Reason 2: The Fitness Industry Is Hot, But So Is Market Availability
“The fitness industry is a hot segment,” emphasized Binnings. “Just last year, the fitness industry grew by six percent. And we’re positioned in the boutique fitness space, which is the most up-and-coming. Traditionally, workout options were just big clubs, but now there are boutique offers where we know we can compete. We’re disrupting the fitness industry.”
While other brands have also emerged in the boutique retail space, none combine REGYMEN’s heart rate-based monitoring with a strategic three-pillar model. This means REGYMEN can appeal to millennials striving for innovation while cutting their gym membership costs thanks to three styles of fitness, all under one roof.
There are few, then, who can truly compete with REGYMEN. Because of the uniqueness of REGYMEN’s concept, franchisees can capitalize on the boom in the health and wellness industry while carving out a major piece of the boutique fitness segment.
Reason 3: Strong Franchisee Positioning (Low Barrier of Entry, Membership-Based Model)
“We utilize a membership-based franchise model, so there’s no cost of goods,” said Binnings. “So the major line item piece is labor. That means a low barrier of entry—we get you into the market and rolling.”
Franchise owners with REGYMEN Fitness also open their doors with a baseline of memberships already in place via a strategic pre-sale marketing campaign.
“Our goal is for franchisees to get 350 to 400 memberships signed before their doors open, which creates a lot of revenue on day one,” said REGYMEN president O’Keefe.
This means that franchisees have the opportunity to tap into a hot market with low overhead, already poised for success the day of their grand opening.
Reason 4: Seasoned Team of Industry Leaders
REGYMEN’s founder, Edward Navan, brings with him years of experience in the fitness industry, including with concepts that utilized a heart rate-monitoring approach for efficient, high-value fitness programs. “Heart rate-based monitoring was something he wanted to build on,” Binnings said. REGYMEN’s president, Tom O’Keefe, worked in franchising for the bulk of his career, including a period as the General Counsel and Executive VP for Anytime Fitness, plus stints with Smoothie King and Ruth’s Chris. The final member of the team, Donnie Jareau, co-founded Spectrum Fitness, Inc., growing the studio to nine locations.
“Our leadership has over 75 years of combined management and development experience in the fitness industry,” Binnings said.
That means not only brand validation, but competitive advantage for franchisees who join the REGYMEN team.
Reason 5: Scalable
When looking for ideal candidates, Binnings said the REGYMEN team is looking for those with an eye on growth.
“We have a scalable model that lends itself to multiple units. We’re looking for multi-unit operators that can do several studios in one region. And that helps with brand awareness and the utilization of management,” Binnings explained, which only furthers the opportunity for multi-unit franchisees.
With a brand this positioned for growth, current and prospective franchisees can expect a high-impact 2019.