How to Make Money Opening a Gym
If you love fitness, then you may think about make money opening a gym.
May be it is not for everyone : you have to be a sport minded entrepreneur, but if you realize to have a a well established business, you will have a lot of satisfaction and why not, a lot of fun.
The wellness sector, gyms included, is a business that is increasingly growing : even with the worldwide economic crisis, people still spend and invest money in beauty products, spa and health clubs.
And there is another factor to consider : the rate of obesity in our population unfortunately is in continuous growth and more doctors than ever are recommending exercise programs to their obese patients.
This is in turn creating a strong demand of health clubs and gyms. This is why opening a gym at this time is such a good idea.
In this article you will find the steps involved in opening a gym and the tips in order to succeed.
1 . Decide the Location
Before select the location for your gym, consider the potential client in the area and make sure you understand the competition in that location.
Also, think about the trends and consider the more people in the area, the more clients you could attract.
Finally, look for vacant premises, for rent or sale, that can be suitable for your gym.
2 . Your Business Plan
You need to consider the amount of money you want to invest, with relation to the location, the future income statement (this includes that you think about the monthly or annual membership fee, for example).
You should also need an accountant. Your business plan is also used to request finance ( if you do not have enough money) from banks or investors for your new business, so be sure to arrange everything.
You must also choose between rely on aid of a franchise (see related Franchising article in archieve) or open your own gym, that will offer you more indipendence in the future.
3 . Select the Equipment
In order to start a gym business, you should purchase or lease these equipments : free weights, weight machines, stationary bikes, treadmills and any other machines you have in your project.
You will need room for an aerobics section.
You surely also need dressing rooms with locker room area, showers and bathrooms.
4 . Gym Staff
It depends from the dimension of your gym, fitness and room instructors are needed.
Then it depends for example if you want to incorporate a healthful bar with fruit smoothies, green tea, and wheat grass drinks, then you will need bartender and if you want to build a relaxation area, may be with sauna, turkish bath and jacuzzi , then you will need spa personnel that may give an additional service to your customers as special treatments, massage programs and skin care.
5 . Promote Your Gym
This also depends from your target audience : if primarly for women, for men or for both. Choose the good commercial partners that will help you promote your gym in the area. May be you should think about advertise in local newspaper or local organizations. You can also study some incentives for members who bring you new business.
6 . Opening time
You may choose to make a VIP opening, also for media and celebrities.
Or you can directly organize the public opening party and that’s all !
It is now time to have fun with your new business !!!