Reply
Thu 4 Mar, 2004 01:04 pm
My husband is interested in starting a franchise called Fitness Together. It is a fitness business where you have one-on-one fitness training with a personal trainer. Unfortunately my husband is the type who gets excited about ventures and only looks at the potential, not whether there is a high rate of success. Since our home would have to be sold in order to come up with the capital, I want to ensure as much as possible that this venture would be successful.
Any one have information on this franchise or know if fitness franchise's are usually successful? Any links to research the success of franchises, etc.
Business background-franchise growth
http://www.entrepreneur.com/franzone/details/0,5885,12-12---295047-,00.html
Financial requirements, etc.
http://www.franchiseadvantage.com/handbook/FitnessTogether.ihtml
Just a silly question--where would you live if your home is to be sold? I just simply wouldnt do that--just me though.
Thanks for the info. If it were only my decision I would agree also. My opinion would never be to never use my home for the equity in a business. However, being married I have to consider my husband also. Our compromise was that we would have a large chunk of the sale of our home put aside for emergency and/or to go towards a purchase of a new home in a couple of years.
As far as where we would live, we would rent for a couple of years, and then by a new home. We plan on buying a larger home in a couple of years any way as we only have a very spacious two bedroom condo now with two children. We have checked out rentals and locations and although the size would be smaller, the rents have been around the same as out mortgage and condo fee combined. Fortunately, the value of our home has increased significantly and we seeing the others selling around us, we have great confidence in that.
Well, I wish you the best of luck in all of that I hope the venture reveals a great reward for your whole family.
I'd also contact as many owners as possible, and find out how successful they've been.
Definately is on our agenda and my husband has already spoken with one owner. Thanks for all your suggestions. It certainly helps.