Did you know it’s estimated that the fitness industry will grow by 171% by 2028? If you’re passionate about health and fitness and have been considering opening a local gym, now is the time.
You may know that many gyms don’t make it through the first year, but don’t let that stop you from reaching your goal of opening a gym business. Keep reading this guide to find out everything you need to know about how to start a gym.
Create a Plan
Many businesses fail because of a lack of planning. If you lay everything out ahead of time, you’ll know what to expect and you’ll be able to set up procedures for unexpected issues that may arise. Start by doing research about the cost of opening the gym and how long it will take to make a profit.
You’ll also need to consider who your target population is. Are you creating a gym for the general public or bodybuilders?
Or maybe you want to create a yoga and pilates studio. Consider what services you’ll be offering and how much you are going to charge for them. You should also think about the hours you are going to be open.
Find a Location
When you are looking for a gym location, you need to consider your clients. Be sure the space is easily accessible to them. You’ll also need to decide if you are buying or renting a space. Take your time looking, and don’t forget the area must be approved by the city to be a gym business.
Insurance and Permits
You must abide by the local and federal laws, and this must be done before you open to avoid fines. There are building and fire codes that you’ll need to get approved first. A quiet gym is almost unheard of, so you’ll need to look into noise ordinates for the area too.
Insurance should be on the top of your list, too. As a gym owner, you want to be sure you, your employees, and your business are covered in the case of emergencies and injuries.
After you have your building and all the permits, the next step to opening a local gym is buying equipment. Before you start buying weights and cardio machines, be sure to measure your space. You don’t want to order more equipment than can fit into your gym.
Gym machines are expensive, and you may want to consider renting or buying used equipment. Be sure to purchase from a reputable company to ensure you are getting good quality equipment. Global Fitness can help you stay within your budget and still provide you with high-grade machines.
Before you open your local gym, start marketing. You want people to know about your gym before opening day. Use marketing methods geared towards your ideal gym population.
Social media is a great resource, and don’t take word of mouth for granted. Reach out to all your contacts to promote your gym and spread the word about your local gym.
Get Your Local Gym Off the Ground
While starting and running a local gym can be challenging, it can also be rewarding and profitable. We have given you some steps to follow that will help you be successful.
Don’t wait to pursue your passion in the fitness industry, start planning today. Keep browsing our blog for more small business tips and tricks.