How to Start Your Own Gym - Small Business Trends

 

gym start up business plan

Learn how to start your own gym, step-by-step. If you’re into exercise and on the hunt for a new business opportunity, opening a gym is a great option. If you’re into exercise and on the hunt for a new business opportunity, starting up your own gym is definitely worth a barrymoreps.ga: Nash Riggins. If you’re starting a gym or a fitness business, it’s important to do your research, have a plan, and set yourself up for success. Here are all the resources you’ll need to get your business up and running, from our free fitness center and sports sample business plans, to . This report includes an executive summary, description of products, marketing & an operational plan as well as financial forecasts for the first year. It is the purpose of this report to consider as many relevant factors as possible to compile and more complete and accurate business plan.


How To Start a Gym - Matrix Fitness South Africa


M any personal trainers have a dream to open a gym. Or maybe something has changed in your life that you need more than what your current position provides. To make your dream come true, use these tips to accumulate a position of strength, then go get it! When I first broke off from the box gym I was working at, one of my personal trainer friends told me he was looking to move on, too.

I gym start up business plan him his plans and all gym start up business plan said was that he was going to buy the vacant lot down the road and open a gym. All I could think was: did he just rob a bank or did he get a very large inheritance from a relative? Do your research, gym start up business plan, get all the numbers together, and then put it down in a fitness center business plan.

Make sure you have someone who knows business and has had experience operating a business to go through the numbers and your plans with you. You need to have thick skin during this process and be prepared for some tough questions. Spend four to six months talking with other gym owners across the country.

Most gym owners are very open to helping others and recounting the struggles they met from starting their businesses. Make at least three calls a gym start up business plan. Arrange a time to contact the owner and put it on your schedule. This is a listening session, so have a list of questions ready. Fight the urge to tell them all about your plans to open a gym, and just ask good questions and take notes during these calls. Over time your gym start up business plan can be more targeted to specific questions that relate to your plans.

Your research and planning should include a complete budget. Things such as insurance, accounting, attorney and cleaning services, and utilities can add up to be major costs.

Use professional rates when doing your budget. This is a big mistake. Budget in a professional to do your services because you want to rely on the unbiased advice of utmost professionals when making critical business decisions. One of the biggest hurdles for most personal trainers who dream of opening their own gym is finances. The best way to save for your dream gym is to live on a budget and spend far less than your current income level. Bring in extra income from a different source if need be.

Are you willing to mow lawns on Sunday afternoons to make your dream come true? Save at least 20 percent of your paycheck every month to accumulate gym start up business plan capital needed to open a gym, gym start up business plan.

I suggest accumulating at least six months at your current salary amount before making a move. Another way to increase your income: Offer your personal training services online. The Online Training Academy will teach you everything you need to know to create a thriving online fitness business.

As far as gym startup costs are concerned, that will be determined by what your plans are. What style of training or style of gym you going to open? Starting up a small group fitness training location will be much cheaper than opening a hour equipment based franchised gym. The larger the facility and the more equipment needed, the more you need to accumulate before starting. The better location will cost you more, too.

Avoid borrowing large amounts of money. The interest rates might seem gym start up business plan now, but could you afford the payments if interest rates doubled? That savings account can now become your cushion cash in case of an unexpected event. And no, using it to buy the latest and greatest pieces of equipment does not qualify as an unexpected event.

There are a few ways to accumulate or secure the capital needed to open a gym. You could save everything yourself—highly unlikely. You could partner with someone who could bring capital into the business. It might be another trainer or an investor who believes in you.

Keep at least 51 percent of the ownership; never give away control of your destiny. I made this mistake gym start up business plan out.

If you take on an investor, make sure everything is documented in a legal contract. The most likely scenario will be a combination of your personal accumulated capital and a loan from a bank. Get ready to sign your life away to the bank and you might as well bend over right now. Be sure to take the least amount of money as wages each month and put any extra money toward paying back the bank loan ASAP, gym start up business plan.

This is a huge topic on its own. Accumulating dedicated clients comes down to two things: relationships and branding. Timing is a big concern when dealing with your clients who are locked into contracts. Maybe you have a core group of clients that is coming up for renewal at about the same time. Your entire operating budget your projected numbers should be based on the smallest amount of dedicated clients that you feel will follow you out the door, gym start up business plan.

Be very conservative with your estimates and make your plans based on a limited number of clients. In other words, estimate high on the cost side of the equation and low on the income side. A big part of client numbers is going to be location. Very dedicated clients will travel a good distance to train with you. Take advantage of this and find a location that will work for you within a minute driving distance of your current location, if possible. Leasing a location will be one of your biggest decisions.

Use a professional to negotiate the lease terms. Look for a location that gives you the best value for your money.

This decision will be based on the style of gym you plan to open and should be one of the questions you discuss with owners during your research gym start up business plan. No one cares more about you and your success than your close family and friends. This is the time to call in favors and get other gym start up business plan to do your marketing for you, gym start up business plan.

A few of the things that helped us the most when we started was holding free seminars about different topics that potential clients were interested in. We approached all the local youth sports programs and offered a short training session for free to their teams. This was great exposure for our bootcamps because the parents got to meet us. This also works for Boy Scout and Girl Scout troops. Use your imagination, but keep this one very important rule in mind: Use your free promotions for large gym start up business plan. You need to get a lot of exposure for every free hour you provide.

Referrals are your lifeblood in this business. If your client numbers are growing in your current training position, you should have a good feel for what it takes to build via referrals. Your marketing plans should be included in your overall budget, with a special amount included for your grand opening event.

Include the first six months of marketing efforts in your plans. Accumulate, gym start up business plan, accumulate, and then accumulate some more before you think about starting something on your own. If you do these things correctly, then you will benefit from your future endeavor, gym start up business plan.

Do them wrong and it will be the death of you. Have dreams of opening your very own gym? A standout college and arena football player, Brian Gajeski instead decided to follow his real passion of personal training.

With a college degree in Marketing, I quickly accomplished my dream. In less than 3 years, I went from a part time personal trainer at a local box gym to owning my own fitness business with hundreds of clients.

I'm grateful to all the people who helped me achieve my dream, and I believe in paying it forward. If you want to make more money then you need this. A clear road map to building your career from the bottom up so you can find more clients, boost your reputation and make more money.

Learn how to make more, work smarter and do better. Your email will never be shared and you can unsubscribe anytime. Privacy and terms at the bottom of this page. Share this article :. Share on Pinterest. Dreaming of going off on your own? Learn how to open a gym from a top personal trainer and successful gym owner. His advice will help you avoid the pitfalls Know some folks who would like this article? Or someone who needs to take a hint?!

Teach Your Clients Well. Buy Now. Brian Gajeski. Share this article : Share on Pinterest. The Author A standout college and arena football player, Brian Gajeski instead decided to follow his real passion of personal training.

 

A Sample Gym & Fitness Center Business Plan Template | ProfitableVenture

 

gym start up business plan

 

Ladies Only Fitness physical fitness gym business plan company summary. Ladies Only Fitness is a women-only health club offering a fitness center, exercise equipment, weight reduction programs, and a child care center. Start-up Summary. This report includes an executive summary, description of products, marketing & an operational plan as well as financial forecasts for the first year. It is the purpose of this report to consider as many relevant factors as possible to compile and more complete and accurate business plan. concerning anticipated results, which are subject to business, economic and competitive uncertainties and contingencies, many of which are beyond the control of the Company and which may or may not prove to be correct.