Please Scroll Down to See Forums Below I know this is not about juice but I think I can get more responces from the hard core bodybuilders. I would like to know who on ef owns a gym? How difficult was it to get started and is it profitable? Also how difficult is it to start your own personal trainer business. Thanks for your feed back.
Fitness as a business
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bbkingpin
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I think it could be very profitable. I always worked out at home with a Olympic size "mega-bench" and it cost me under $300 for 310# weight set and the mega bench plus 2 extra 45# plates (so, 400#). Day after day, for several years I can work out any time I want. I have safety stands for squats (up to 365#) and there are hooks halfway up if I can't finish a last rep on the bench. Anyway, I just moved half a continent away and had to join a gym. Within 4 months, I'm out over $200 for probably one w/o per week. (Once you get used to working out whenever you fell like it at home, it's tough to try a gym.) Now, I just ordered another Mega-bench with safety stands which cost $309 w/ delivery. I just bought the weights 310# locally for $149 (incl $20 delivery) and they are in the house since yesterday. The point: very few people do this. Look at the return on a $300 bench which lasts virtually a lifetime. If you collect $500 per year from a bunch of people who seem to prefer to go to a gym and wait for that bench for which they are paying $500/year -- JUST TO SHARE with all those other people paying $500/year -- I think it is profitable.
With all undue respect -- that isn't an answer. Owning a business is more than buying some equipment. You have rent, purchase and maintence of equipment, overhead, etc. Good story about your home workouts though.
If you want to start a gym business, learn about business. Knowledge of training is meaningless beyond helping to have a good understanding of customer servce. You must also understand advertising, contractual agreements, presentation, employee negotiations, etc. You'll be dealing with oil heaters and AC repairs and ladlords. Don't think you're going to hang around and train and the money will just roll in.
Personal training is obviously a lot easier but the field is flooded beyond belief.You have 2 choices. One: Get certified, then pound the pavement looking for a gym to pay to 25 bucks an hour to train clients in which casse, you'll have a full time job at low pay. And two: Just try and pick up a few clients on your own and make some extra spending cash. It ain't exactly a career.
If you want to start a gym business, learn about business. Knowledge of training is meaningless beyond helping to have a good understanding of customer servce. You must also understand advertising, contractual agreements, presentation, employee negotiations, etc. You'll be dealing with oil heaters and AC repairs and ladlords. Don't think you're going to hang around and train and the money will just roll in.
Personal training is obviously a lot easier but the field is flooded beyond belief.You have 2 choices. One: Get certified, then pound the pavement looking for a gym to pay to 25 bucks an hour to train clients in which casse, you'll have a full time job at low pay. And two: Just try and pick up a few clients on your own and make some extra spending cash. It ain't exactly a career.
bbkingpin
New member
Yeah, my friend just left the IL state's attorney and opened his own office. He said the hardest part was just the business aspect of running the office. But most people go in with a very simple understanding of business concepts (which you are right is necessary) and then learn as they go. The most important thing is taking the first step. Think of all the products or services that started out one way and gradually improved over time.
feelin_kinda_saucey
New member
Opening a gym large enough and nice enough to be profitable takes an extremely large amount of money, an amount i would venture to guess you do not have or are not very capable of getting because your asking this board when you should be asking your financial advisor....
To open a GYM that is nice enough so that everyone who walks in the door and takes a tour of the gym will feel that they cannot find a nicer more well equipt gym in the area will cost you well over 1 Million $ before you make a single $ in profit and thats if you find a building of the perfect size and all you have to do is the TI and buy all your equipment.
Now a personal training business is a no brainer, you can do that with a simple business license , a fictitious business name and a car.. And still make a decent living if you know what your doing.
To open a GYM that is nice enough so that everyone who walks in the door and takes a tour of the gym will feel that they cannot find a nicer more well equipt gym in the area will cost you well over 1 Million $ before you make a single $ in profit and thats if you find a building of the perfect size and all you have to do is the TI and buy all your equipment.
Now a personal training business is a no brainer, you can do that with a simple business license , a fictitious business name and a car.. And still make a decent living if you know what your doing.
Look into government grants, no offense.. if you're a minority and/or veteran all the better! Get a book on writing business plans, write one up A.S.AP. so if the grant doesn't go through, you can take the chance at trying to get a loan. Look for business partners, venture capatilist's who will want to invest is also a possibility. Another option, start out small... nothing wrong with that. As for being a personal trainer, there are plenty of rich people out there that think they need one. I have a very good friend that charges $110 an hour, and has several clients now.. so many he couldn't do it on his own, so he has other trainers working for him. Like contract work. He just took out a loan to lease a space in a shopping center, buy some needed equipment, and run a personal training "studio". He's got good ideas, he puts together meal plans, trains, and comes and goes as he wants.
I work as an accountant so I can tell you a few things. First off it would require a large investment but probably only around $20,000-$30,000 cash. Your looking at being in dept around $100,000 and being there for a long time.
Your first year or 2 you will probably lose money as you build a client base. After that you will probably start to break even and eventually start to make a profit. Your best off starting out renting so that you don't get to much dept and can get much more equipment to fill your GYM. Once you can go to the bank and show you have a history of profit at your business you should buy a place right away. Which will put you back in the hole only much bigger this time, I'm guessing around $500,000 grand since you can't put a GYM off of prime real estate and expect to gain clients and increase profit.
So basically to sum it up unless you own property and can cut that expense out then you are best off letting the idea go.
Or do like my boss does and pay yourself a huge salary and let the business run in the red constantly with the intent of selling it in the future.
Gym's are all about marketing and the people that attend your gym so hire all the Huge Bro's and Sexy Women you can and let them use the equipment when they aren't busy. Trust me it will help the image and bring in more people, if for nothing else than to look at all the eye candy.
Later and good luck
Your first year or 2 you will probably lose money as you build a client base. After that you will probably start to break even and eventually start to make a profit. Your best off starting out renting so that you don't get to much dept and can get much more equipment to fill your GYM. Once you can go to the bank and show you have a history of profit at your business you should buy a place right away. Which will put you back in the hole only much bigger this time, I'm guessing around $500,000 grand since you can't put a GYM off of prime real estate and expect to gain clients and increase profit.
So basically to sum it up unless you own property and can cut that expense out then you are best off letting the idea go.
Or do like my boss does and pay yourself a huge salary and let the business run in the red constantly with the intent of selling it in the future.
Gym's are all about marketing and the people that attend your gym so hire all the Huge Bro's and Sexy Women you can and let them use the equipment when they aren't busy. Trust me it will help the image and bring in more people, if for nothing else than to look at all the eye candy.
Later and good luck
I work at a personal training studio, the owner makes good money. He has 2 kids, divorced and just brought a brand new bmw and a nice house in an expensive area, so I say he's doing alright. He has 3 other trainers working for him including me. I think its a good idea. I'm thinking about opening one up in a few years. But this field is flooded so you have to be good and lucky too. Its a gamble, but sometimes you have to roll the dice.
sauerbrauten
New member
This is my dream for the future...owning a gym....and health food store..one fuckin day......
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