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I want to own a gym!
- Thread starter madmatt
- Start date
madmatt said:
Sure there are, there is Golds, Powerhouse, Universal, World etc... The thing is that with a co-ed gym of the right size, depending on your location, size and competition, you may be looking at 100-500,000 bucks. It's an expensive and competetive business in the United States, but if you pull it off you can make it rich, or close to it. Something on the order of 0-100,000 per month profit.
I'm working now now on opening a small women's fitness center. Just a few machines and some classes. Very expensive to start a gym. I wouldn't go with a franchise because of all the requirements. I did some research with World Gym and they expected about 1,000,000 investment for a medium sized gym.
vinylgroover
New member
Re: Re: I want to own a gym!
haha, classic quote.
Personally, it doesn't seem like good business to me.......but then the U.S is probably different to Australia.......bigger market i guess. Here, gyms struggle to stay open, they just don't get the cashflow generated which any good business needs to be profitable. They are also very seasonal......you get hundreds going during summer, then no one goes in winter........but your fixed costs stay the same.
gwl9dta4 said:
haha, classic quote.
Personally, it doesn't seem like good business to me.......but then the U.S is probably different to Australia.......bigger market i guess. Here, gyms struggle to stay open, they just don't get the cashflow generated which any good business needs to be profitable. They are also very seasonal......you get hundreds going during summer, then no one goes in winter........but your fixed costs stay the same.
madmatt
New member
WTF! I knew there were franchise gyms. LOL! I don't even know why I asked that. I think leasing property and starting your own would be the way to go! There are several businesses around my neck of the woods that have started in a small buildings and moved to bigger locations. I'm buying some lottery tickets tonight!
big4life said:
Sorry to say, but that is just not so. Maybe in your case. The first expence with a fallin economy to go is the buying of big to medum ticket items like cars, computers new wardrobe etc...
Thigs like restaurants, beauty salons and gyms are here to stay. No one i know stopped going to the gym during times of stress, hell that's the worst times to stop going health wise. Besides, the dollar per day it costs means nothing in the long run.
duritz
Banned
some asshole in my area bought a Gold's gym for like $1 million... what a moron... it's a piece of shit.. so dark inside...
the thing people don't realize is, econonmically speaking, the opportunity cost to open up any business is usually not worth it...
ok you need $500,000 to open up a gym just to start it up with equipment and the buliding and staff and what not...
so u make let's say $50,000 profit the first yr, then $65K the next then $75 until u avg about $100,000 a yr profit... what a great fucking idea right??? tons of money... woohoo!!!
well here's the bad news... it took you 6 yrs to break even...so u are at zero right now... cuz you made $500,000 profit over 6 yrs... if you would have invested the 500K you would have had a 10% return on investment each yr let's say... so $50K first yr, $55K second, $60K third, $66K fourth, $74 fifth, $82 sixth,
that's $387K profit in 6 yrs... plus u had to quit your job for the business... So your $50K a yr job was just lost... that's another $300K
so by opening up a seccessful gym... in essence you just lost $187K over a 6 yr span dude...
people need to realize that profits aren't always what they seem... it takes about 10 yrs before you would notice a positive side to the business instead of investment aspect of it... that's why 90% of businesses fail within the first yr...
so in conclusion.... the only reason you want to own your own business is because of the freedom and gratitude for working for yourself... the money usually isn't there all the time...
Entrepreneur is french for risk taker...
the thing people don't realize is, econonmically speaking, the opportunity cost to open up any business is usually not worth it...
ok you need $500,000 to open up a gym just to start it up with equipment and the buliding and staff and what not...
so u make let's say $50,000 profit the first yr, then $65K the next then $75 until u avg about $100,000 a yr profit... what a great fucking idea right??? tons of money... woohoo!!!
well here's the bad news... it took you 6 yrs to break even...so u are at zero right now... cuz you made $500,000 profit over 6 yrs... if you would have invested the 500K you would have had a 10% return on investment each yr let's say... so $50K first yr, $55K second, $60K third, $66K fourth, $74 fifth, $82 sixth,
that's $387K profit in 6 yrs... plus u had to quit your job for the business... So your $50K a yr job was just lost... that's another $300K
so by opening up a seccessful gym... in essence you just lost $187K over a 6 yr span dude...
people need to realize that profits aren't always what they seem... it takes about 10 yrs before you would notice a positive side to the business instead of investment aspect of it... that's why 90% of businesses fail within the first yr...
so in conclusion.... the only reason you want to own your own business is because of the freedom and gratitude for working for yourself... the money usually isn't there all the time...
Entrepreneur is french for risk taker...
