Opening a Fitness Center - Need advice!
Posted on: Mon, 06/22/2009 - 10:51
Opening a Fitness Center - Need advice!
I am thinking of starting a gym/fitness center as it is a big passion of mine. I have been doing some research in the area and have what I believe to be a good location. What I am looking for is more information on the financials of a gym. Google isn't helping much.
I will not be franchising a big name gym like LA Fitness or Golds. I want to better understand the numbers as it relates to costs and the potential profits for the individual, single location gyms. If you have any experience in this area or know where I can find some real financials from other start up gyms I would appreciate it.
I am in the north metro atlanta area so if you are in any other state or far removed from metro atlanta, I wouldn't be your competition and I would love to hear your advice and insight.
Thanks,
GC
What I can understand is that you will need to create a business plan and work out that what investments you will be making for your project i.e., cost of various fitness equipment such as weight lifting equipment, treadmill, exercise balls etc. And then you will need to figure out that will you be able to recover the cost of investment and earn profits by the way of membership fee etc.
Keith
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First of all I want to appreciate for your idea of opening a fitness center. I must say you are doing a great job by opening such type of gym or fitness center. I think you should first contact a fitness management company before starting up your business. You should also plan your financial budget because finance is the major factor that guides you for establishing your center. You should collect the entire information regarding the market behaviors and also adopt effective planning strategy. You should also concentrate on best fitness equipments in your fitness centers because they are the main thing in any fitness centers. You should plan all things according to your budgets then only you will be able to open a fitness center properly.
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OP, you should probably consult a Fitness Management services company that can work out an estimate for you and also guide you through the whole process of setting up a gym. Check Advantage Fitness Products. They undertake planning, design, supply and support of fitness and wellness centers. They're quite an authority on fitness solutions IMO.
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I think you should first plan your financial budget and then invest on fitness equipment. I must appreciate your idea of opening a gym center. I suggest you to keep all types of home gym equipments such as treadmill, rowing machine, powerplate, exercise bike, crosstrainer etc. as they are the main equipments to do workoputs and exercises.
I suggest try to make a goal and plan things first. Like who are the people you are targeting? Are you going for old or younger people? And also try to look are your surrounding are and ask yourself If do your really need a gym in that area. That why you know what you want and who to concentrate on for your business. It's no joke to spend big money on equipment that won't be useful at all.
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I am cerebration of starting a gym/fitness centermost as it is a big affection of mine pass4sure 70-293. I accept been accomplishing some analysis in the breadth and accept what I accept to be a acceptable location pass4sure 350-030. What I am searching for is added admonition on the financials of a gym. Google isn't allowance much. I will not be franchising a big name gym like LA Fitness or Golds. I wish to bigger accept the numbers as it relates to costs and the abeyant profits for the individual, individual breadth gyms pass4sure 646-204. If you accept any acquaintance in this breadth or apperceive breadth I can acquisition some absolute financials from added alpha up gyms I would acknowledge it. I am in the arctic busline atlanta breadth so if you are in any added accompaniment or far removed from busline atlanta pass4sure 642-825, I wouldn't be your antagonism and I would adulation to apprehend your admonition and insight.
Good for you for opening up a gym. This country definitely needs more fitness! I personally have never opened up my own gym but I go often and as a customer, I look for cleanliness, good classes and good machines/weights. I also think gyms need to incorporate more abdominal workout machines. I would much rather do my belly burner sit-ups on a good machine as opposed to a dirty mat on the floor.
I think you need to start small and observe and do you homework.
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If you are looking for robust gym equipments, associated with big brand names then it will demand a handful of money. As you are running short of finance right now, you can go for basic equipments like skipping rope, resistance bands, or an exercise mat. It's also advisable that you can buy used equipment which are hardly used and are in good condition. Think these tips can help you a bit. Pilates fitness
Substituting water for less healthy drinks (like soda) will cut calories and reduce intake of artificial flavoring, coloring, etc.Flexibility is a very important component of overall fitness.
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Off local business employees a discount on memberships, we do that at narconon vistabay a lot of employees and interns all go to a gym to stay healthy and fit.
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Hi GC:
We are a free service and have a number of people looking to invest or become a part of a franchise business, as well as many other opportunities: http://www.cluehut.com
One of our listings that matches what you are looking for is:
http://www.cluehut.com/user/profile?user_id=72
All the best of success with your new venture
Cheers to the author for giving me some solid ideas
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I need to get more excercise.!
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These comments just look like ads to me.
The person closest to you who knows the financials of a fitness center is the banker that financed the one nearby. Go see the manager of a couple of local banks and ask them who financed your competitor - if they have a successful loan, they will want to give out another one, so they should be helpful.
Also, the accountants who are local will know the local economics.
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Congratulations on taking the big step and starting your new business! I have done the same and have found great success. i will say that since you are not buying a franchise from one of the larger chains, you will want to find what your niche will be in your geographical territory for your business. Research your immediate competitors to see what they offer, how much they charge, and they see what offer that you can make to cut a slice of the market for your gym. I went to www.wekandu.com (formerly CMS befor going online) when I started my business and they helped me do these things. I hope this helps.
How about going to the library of your local business school, for example, the Business School at Georgia Tech - ask the librarian if they have publications that you can look at. If that doesn't work, get an appointment at your local Small Business Administration - it's free and it's their job to help you. A google search brought up http://www.businessinfoguide.com/gym.htm which you can explore from home.
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