Health and fitness businesses carry some very specific risks that could lead to injuries, losses and lawsuits.
For example, clients might suffer injuries or illness due to faulty equipment, poor hygiene practices, falling over in a group fitness class, or using products recommended by a centre employee.
And this is on top of the general risks that most businesses hold – such as fire and other perils, burglary, slips and trips on the premises and business interruption!
Managing the risks
Health and fitness business owners need to ensure they have a sound risk management program in place. This should include property and equipment maintenance, fire safety, premises security, cleaning and hygiene, staff training and employment practices.
But even with the best risk management, there are still things that can go wrong. This is where insurance comes in, as it provides much-needed financial protection.
NFIB’s solution for health and fitness franchises
NFIB fully understands the risks to the health and fitness industry, and we offer insurance solutions designed specifically for franchises.
Here are some of the benefits:
- Franchise managed program – NFIB’s managed program not only ensures the franchised business itself is fully covered but that franchisees are as well. This creates a consistency of coverage across the network and ensures franchisees are always up-to-date with their insurance compliance requirements.
- Group cover savings – group or bulk insurance cover is more cost-effective than purchasing individual policies from providers, and the savings can be spread across the whole franchise.
- Consistency and customisation – NFIB’s managed program ensures the franchisees have consistent coverage but also allows for customisation for individual needs as required.
- Easy online processes – the program comes with very quick and easy online processes for joining, lodging claims and renewal.
- Conferences – NFIB offers regular conference events where franchisees can meet up and discuss risk management and other topics.
NFIB’s understanding of franchises ensures you will always be dealing with a company that is agile and able to move quickly, in turn allowing you to focus on what’s most important – running your business!