Starting a gym: Profitable?

[eat2gain]

Hey I thought there would probably be a few people on here that have owned or do own there own gym and was wondering if you can make decent profits or if its not so great. Also any other suggestions would be appreciated. Been thinking about maybe starting a gym up as we only have one where I live (other than the womens curves place).

 

[eddymerckx]

Hey I thought there would probably be a few people on here that have owned or do own there own gym and was wondering if you can make decent profits or if its not so great. Also any other suggestions would be appreciated. Been thinking about maybe starting a gym up as we only have one where I live (other than the womens curves place).

almost impossible to make money unless you do the nonsense that all the big chains do--cash up front the hope you never show up. i worked in the industry before i went to law school--all the small gyms were more hobbies and the owners had other jobs.

 

[eat2gain]

almost impossible to make money unless you do the nonsense that all the big chains do--cash up front the hope you never show up. i worked in the industry before i went to law school--all the small gyms were more hobbies and the owners had other jobs.

Well that sucks, thanks though. Maybe I'll open up like a supplement type store instead.

 

[ponyfitness]

Find good real estate, get into it for two years, establish good books while losing money and then hope a big chain offers to buy you out because that is the only way to make a serious profit in less than 5-10 years if you ever do. Plus you have to work 90 hour weeks to make sure everything is running properly.

 

[needtogetarmy]

almost impossible to make money unless you do the nonsense that all the big chains do--cash up front the hope you never show up. i worked in the industry before i went to law school--all the small gyms were more hobbies and the owners had other jobs.

That is pretty much what I found out doing research when I was planning to open a gym. It is very competitive. Even the gym I have been going to for years, which has been open for over 30 years, is getting hammered by the corporate gyms that have opened. My guy used to have loyal locals too that have switched. He is close to going under.

The key though is to differentiate what you are offering and focus on a specific demographic. My wife is a PT and she is going to open her own clinic one day and we plan to have a gym with it. It will not be like Golds etc. and it will care more to the rehab demographic. 99% of the local gyms do not differentiate their marketing mix though. They all focus on price cutting and that is one of the reasons why the market is very competitive and difficult to enter.

 

[Razorguns]

considering even bally went bankrupt. no. unless you have some unique angle.

r

 

[mustang_00]

all the ones i know who have gyms have other jobs too. it's really hit or miss bro. then again they don't offer 24 hours. more people would come to those types but i'm not so sure how much it would even help with that angle...

 

[RobertFontaine]

Good thing my basement is unfinished.

 

[manny78]

Youre not going to make money for the first 2-3 years then by that time, a big chain will most likely show up, give out memberships at a ridiculous fee and screw you for good.

 

[timtim]

buy one of the speed training schools for athletes, put that in the gym. youll have a better chance.