T Nation

I want to own a Gym...

I want to own a Gym

I need to create a buisness plan

some kind of:

In X demographic of peoples ages and population

With Y many Gyms of ____ type already in a 10 mile area.

With Z total cost of startup and overhead

then xyz = profits in so many years.

How can I find this? Golds and World Gym wont tell me.

Check with your states Department of Commerce. Best of Luck.

Try www.BizPlan.com There are lots of similar websites, but this will help you get started. Take your time with your business plan and then take it to find financing. Also check the competition and call your county treasurer to get a complete list of local tax and regulations for business owners. Have you checked into owning a franchise gym?? This may be easier and lest risky if this is your first business adventure. Whatever you decide …GOOD LUCK!

Keep in mind that the only way to be successful in the gym biz is to do all the things you probably hate - cater to middle aged women, buy lots of machines, play crappy music, screw people with unfair contracts etc. Sad but true. Being a gymn owner, especially a fanchise gym, may make you hate gyms and training! I’ve seen it happen.

Well I own a gym in a small town where there is no other gym within 1hr.so I kinda got lucky but what you want to do is figure out what type of people you are goint to attract
and build around them.If you will have more people interested in just fitness then worrie about what they are going to need,if you think you will have more hardcore typ then lucky you
cause it dont take much to make them happy.
I have a good combo of both"makes it more expencive" you gotta have good machines and cardio plus enough room for free weights.
just add up the cost of equipment,rent of building or cost if you buy and a 5 year estimated proffit sheet and take it to a bank
and try to get financed,thats what I did

Your public library should have the latest census figures. These will provide you with the demographic information for your area.

Also, even if there are other gyms in the area, you might be able to offer something that they don’t. Personalized training, hard-core facilities, etc. Of course, every situation will be different.

Hey coyote, where are you thinking of putting one? Don’t come near Anne Arundle County Maryland, I’ve already got that one staked out. A good friend of mine opened a gym in Pasadena, Md called Club One Fitness, and I have been going over some things with him about how he got started, how much investment capitol was needed etc. I am looking to build a good family owned/operated business, and I don’t plan on getting rich off of it. I will keep my day job as a Network engineer for the federal government, and let my brother and wife run it for the most part. But keep me posted on how things are going, and I’ll do the same.

Rookie, nope I’m about 3000 miles from you, so I could use some ideas, i dont expect to be ‘rich’ from it, its just a career transition, I figure Im at the gym all the time anyways so trying to think of ways to make some money at it.

CD, living near seattle, there are a lot of Gyms in this area, but they suck in one way or another.

Since you are looking at this as a job, you have a bit more lea way, yet you don’t. Since if this goes under you have nothing left for support. Since you are running the place open to close you minimze labour expenses.
It truly doesn’t matter how many gyms are in the area, so long as your income is greater than your expenses. So, if this is going to work, learn what you can now about the systems. There are basically two ways to make money 1)cost per unit, 2)# of units sold (volume). The trade off is along that scale. Customer satisfaction is what allows you to bend and mold that scale to a degree. Learn how to repair equipment ( saves money and time plus adds to the customer service) learn what supps and brands people are using and charge a % above wholesale, pretty much you want to be cheapest ( Or at least if they are members right). Pretty much need to cater to females, period. Early twenties to late forties as a guess. So guess what…cardio classes in all shapes and forms. If you are going to charge more than the next club, you better be showing why. If you are going to a bank for financing experience as a manager is a must. Make note of what equipment has a waiting line and what equip doesn’t get used. If you are here you probably know more than the average joe, offer beginners classes, or free program set-up. Visit other gyms and see what people are using there.
Customer service, customer service, customer service, it keeps them coming back and their word of mouth gets them coming.
Peace, Tmofa

I live in downtown Seattle. I haven’t worked out at them, but I was under the impression that there 2 good gyms on the east side - Ironworks in Bellevue and Eastside Gym in Redmond.

What is your angle going to be? Can I get a pass? :wink:

John K

have the best of both ‘types’

Ironworks is ok but kinda small, I doubt I could get anyone from eastside to abandon loyalty, as Lonnie runs a good place, but eastside has its faults as well, its not perfect.

If you come over to eastside Ill be the one with the Testosterone shirt.