The gym business could be a profitable venture and could control your destiny provided you master the art of fitness. However, most entrepreneurs struggle to start a gym business simply because they lack the proper guidance on where to start. 

Well, starting the business is simpler than you thought, and with these tips, you can build a sustainable fitness center.

1. Fitness equipment

Your gym needs some necessary fitness equipment such as a stationary bike, weights, dumbbells, a bench, treadmill, a squat rack, pull up bars, medicine balls, resistance machines and other functional exercise equipment. There are several sites online that can help you source these out and based on what you’re looking for, you can use this site to compare the different kinds of fitness equipment you may need. It would be ideal if you obtain quality equipment at a pocket-friendly price. Before purchasing any gym equipment, first, define your target market, then you will have to prioritize the essential equipment that you can buy at the moment. In case your target market is young mothers, then functional exercising equipment, cardio machines and dumbbells should be your priority. Ensure that you purchase quality equipment and keep in mind that low-quality brands may be cheaper, but they could break down easily or far worse, cause an accident.

2. Staring Capital

Currently, a standard-sized gym would cost around $120,000, but if you prefer a warehouse-sized gym, it would cost you more. You will use approximately 40% of the capital in purchasing office and gym equipment and about 20% on administrative costs such as business permits and construction costs. The rest of your capital would be for operational expenses, and it would be ideal if you set aside at least five months’ worth of your salary for fitness trainers and the sales team that you must employ.

3. Prioritize the Sales

Irrespective of the size of your gym, you will notice that more money goes out compared to the amount that comes in. You will have bills such as equipment maintenance, the electric bill, rent, insurance and salary. Failure to prioritize your pre-sales during the grand opening of the gym could be your greatest mistake. When you prioritize pre-sales, your name will be out among your clients even before your gym starts running; this could be beneficial.

4. Location of the Business

The fitness center location could determine how profitable the business could turn out to be. Generally, you need to pick a spot that is accessible to most clients. Find a location that’s near your clients working areas or their residential areas. It would also be advisable to set the gym near heavy foot traffic; thus, you can always have inquiries from passersby.

5. Gym Staff

Always ensure that you have an excellent customer relationship manager to ensure that your membership grows continuously. With proper management, your clients would be happy and satisfied when using your gym. Besides, ensure that you have knowledgeable fitness trainers who are well versed with customer satisfaction. You staff members should also know first aid; therefore, they can offer assistance in case of accidents.

6. Business insurance

You are legally required to have liability insurance that will cover you in case there are compensation claims against your business. It would be advisable to get public liability insurance given that your clients are a member of the public; therefore, the policy will cover you when someone blames you for damage or injury.

7. Cost of Membership

Ensure that the training packages that you offer to clients are reasonably set. The price set by nearby fitness centers could be your pricing basis when deciding on per session, monthly or quarterly rates. It would also be ideal if you offered some special packages such as the time-limited access rates. The package would be suitable for those who work out during weekends and those with spare time in the morning. 

8. Rules and Regulations

You should anticipate accidents and injuries at the gym; therefore, you must take all the necessary legal precautions. Your staff members need to conform to the standards set by the Health and Safety Executive that covers gym users and the staff members. In case of any injury, HSE will investigate your business; therefore, it would be necessary that you are rigorous in implementing the safety procedures. Ensure that all equipment such as the fitness equipment, electrical appliances and boilers are in good shape through regular maintenance.

Besides, if you have a food section or a café at the gym, it would be necessary that you comply with EC regulations on food hygiene.

Generally, a gym business could be the most significant life accomplishment you could ever make. Follow the tips above, and you will enjoy the fruits of your hard work.

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