Starting a fitness gym is not as easy as it sounds. Sure, a home gym is easy to make. You prepare a room, purchase some basic equipment, install a mirror or two and hang a couple of speakers on the wall. It makes a lot of people develop a misconception that starting an actual fitness gym (a business venue) is a similar thing only on a bit of a larger scale. So, how do you go around starting a fitness gym? Here are five steps that you need to proceed with.
Licenses and qualifications
To get going, you need to get all the necessary licenses and qualifications. Chances are that you'll need a state license. Going to the official government website to find the answer might be a solid plan. Second, you need to consider the matter of insurance. Keep in mind that training at the gym involves a great deal of personal responsibility. So, go for an insurance plan that covers all areas (injury, equipment, gym space, etc.). Once you get this out of the way, you’ll be able to register your business.
Business plan
As an owner of a fitness gym, you're more than just an instructor. You're an entrepreneur, as well. It means that you need to start looking at the money-making capacities of this gym. First things first, you need to bear in mind the importance of your budgeting. What is the initial investment that you need to make to get started? Here, you should count on the first few months of rent, the initial equipment acquisition and costs of all the licenses. How many members and which cost of membership would reliably get you across the break-even line in the foreseeable future? Try to answer some of these difficult questions.
List of equipment
The most important thing you need to worry about when starting a fitness gym is the equipment. The inventory of a gym is one of the things that determine its appeal. Keep in mind that the size of the gym space may determine how many pieces of equipment you can go for. While it is not uncommon for a couple of people to share the same barbell or machine, it's much safer to assume that it will be one person per machine. It determines your capacity. One of the ways to budget this equipment acquisition is to check out the inventory of online retailers like CyberFit. So, make a list and start your research.
The location
Another thing you need to keep in mind is the location of the gym. Same as with other businesses, people will be drawn to the gym according to its location. It's safe to assume that people are more likely to go to a local gym. Also, the location will dictate the rent. It means that to get a better location for the same rent cost, you'll probably have to get a smaller gym. It might somewhat lower your capacity and your total membership. Such a trend may require you to update your pricing capacity once again.
COVID-19 rules and regulations
We are living in an extraordinary time, which means that there's one more concern that you should face. A lot of these exercises are aerobic, but even anaerobic exercises sometimes require more aggressive breathing. People sweat and use the same equipment, one after another. In the light of this pandemic, there may be a lot of steps of rules and regulations concerning gyms. Keep in mind that a gym in an urban environment isn’t just a fitness trend. It is a health and fitness requirement. Make sure that your clients remain healthy. It might also be a good idea to organize an outdoor workout area.
In conclusion
At the end of the day, a fitness gym is a business which means that once you're done with the launch, you'll have to go all-in on the marketing. That means making a website, a blog and registering all the social media accounts for your venue. The effort that you invest in these stages and the cost of the project will drastically affect its cost-effectiveness. By impacting your break-even point, it will also affect your profitability in years to come.
