Why do women prefer fitness franchises over others
Over the past few decades, women have made giant strides in fitness business to represent a unique portion of the fitness franchising world.
In revenue terms, the fitness industry growth rate is 2.6% globally. According to the latest IHRSA report, total industry revenue was an estimated, up from $81bn in 2015. If it continues on this trajectory then it should reach $85.2bn in 2017 and $87.5bn growing from $83.1bn in 2016.
The sports, fitness and wellness (SFW) market in India will grow from $35 billion in 2016 to $90 billion by 2022, creating 2.5 times more business opportunities. Allied Market research has found that the global generated revenue for female fitness industry is expected to reach a total of $184.6 billion by 2020.
The major luring factors to bring women in fitness business world could be explained as:
A Growing Demographic
After being ignored for decades, the women’s fitness market is now one of the hottest, fastest-growing industries out there. Not just getting healthier with daily workout, the market is also full of women who want great annual turnovers and economic dynamism that women-owned businesses bring.
Multiple streams of income
It is always better to have more than one income stream, and having your own business allows you to do just that. Women have immense opportunities to blend work and a passion for wellness, and launch a startup around this idea to make money.
The potential is endless to find your niche, which makes it easier to branch off with different ideas to generate new income streams.
Unlimited earning potential.
Unlike working a job where women still only make five figure sums, entrepreneurship widened the earning horizon for women. Fitness industry is booming creating a large income potential for those who are in the business. The annual turnovers grow high to millions of dollars. With some creativity, hard work and determination, you can get yourself in the guild of millionaires.
More gender equality.
Business like fitness, technology which were traditionally dominated by men, are opening up more and more to women. Women fitpreneurs are rising and the gender gap in fitness landscape is also narrowing.
Freedom to work
Flexible working hours, the chance to be your own boss is attracting a lot of women into the fitness business.
Opportunity to build something for yourself.
It always feels like a blessing to work for yourself, instead of someone else with the liberty of making everything happen on your own terms.
Entrepreneurship not only brings wealth but it helps you to create and build something that is all yours. It feels even special when the business you are in is in line with your fitness curiosities and keenness.