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
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
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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