Owning a Training Facility.......

[JKurz1]

Anyone have any info on the start-up costs, expense, financials, etc. of opening your own fitness facilty? I have a client that faxed me over the financials and I want to have something to base my opinions on.......thanks fellas..........

 

[bigdho]

Jezus kruz.........You know I know this. Depending on what and where you want to do it, it could coast anywhere from at the least 100,000 to 10,000,000. If your going to finance it you need at least 15% down of YOUR OWN money it cant be borrowed from anywhere or anyone. Needless to say its not easy to get one started.

 

[bigdho]

Youll have to tell me what in paticular your wanting to know. There is too much to list.

 

[JKurz1]

I want to know the averages bro......what start up fees should run, equipment rental, memberships...........all in Ohio.

 

[bigdho]

Well Id say average about 250.000 if you lease you building and dont build. Id recomend you buy your equipment rather than lease it, much better off in the long run. As far as things like your membership rate and marketing Id highly recomend you get in touch with the thomas plumer co.. He saved our ass big time in that department. We were going to start our rates at around 20 dollars and because of his advise we started around 40 and now we know why he said to do that. If we would of started at 20 we would be in big trouble. Seems like no matter how much you research you always think your going to get more members than you end up getting

 

[JKurz1]

Well Id say average about 250.000 if you lease you building and dont build. Id recomend you buy your equipment rather than lease it, much better off in the long run. As far as things like your membership rate and marketing Id highly recomend you get in touch with the thomas plumer co.. He saved our ass big time in that department. We were going to start our rates at around 20 dollars and because of his advise we started around 40 and now we know why he said to do that. If we would of started at 20 we would be in big trouble. Seems like no matter how much you research you always think your going to get more members than you end up getting

SO this is a done deal and he insists on renting his equipment....do you have a set of financials I could look at to base this purchase on? Or a website? Just want to make sure this deal is kosher.......

 

[bigdho]

SO this is a done deal and he insists on renting his equipment....do you have a set of financials I could look at to base this purchase on? Or a website? Just want to make sure this deal is kosher.......

So he is renting fitness equipment??? Not leaseing? What kind of equipment is it? I wouldnt have anything to do with that. How much equipment does he get and how much does it coast? Ill bet hes gettin raped.

 

[JKurz1]

lease.....my fault......if I gave you some estimates, would you be able to tell if they were clean? PM me your email.............

 

[GOHVYORGOHME]

Hey Kurz, I am part owner of a gym in columbus. It took close to 350K by the time we were done getting what we needed. We have been in a shopping mall almost 3 yrs now and are doing pretty well. We have 3 leasing spaces and it's not cheap in a strip mall. it took us quite awhile to get things going as far as membership. Now we go off of refferals* for the most part. It was kindof funny, we thought we would open our doors and ppl would flock right into us being there was no gym within 20 miles! We were wrong lol. It took awhile to build our base up!

 

[bigdho]

Hey Kurz, I am part owner of a gym in columbus. It took close to 350K by the time we were done getting what we needed. We have been in a shopping mall almost 3 yrs now and are doing pretty well. We have 3 leasing spaces and it's not cheap in a strip mall. it took us quite awhile to get things going as far as membership. Now we go off of refferals* for the most part. It was kindof funny, we thought we would open our doors and ppl would flock right into us being there was no gym within 20 miles! We were wrong lol. It took awhile to build our base up!

Damn that sounds like us. Were in a mall as well. We went with free motion, Epic (the newest other line of free motion), hammer and cybex. We also bought a city blends juice bar and some body systems classes. What did you guys go with as far as equipment? Hows your membership going?