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Gym Owners?

Chris_Befoul

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Fixing to graduate from college in a year and I have always been fascinated by the idea of opening up my own gym. So I'm curious if it is a worth while investment?
 
Fixing to graduate from college in a year and I have always been fascinated by the idea of opening up my own gym. So I'm curious if it is a worth while investment?

Someone told me recently that the two most likely businesses to fail are restaraunts and gyms. Lol. My gym has a restaraunt on the second floor. I think they do pretty well. They bring food down to one of the owners every three hours. He's a big boy for around here.
 
every few years my buddy and i do up a biz plan in our area for a gym. at the end of the day the financials don't always add up. location, lease, equipment, to the parking lot ... its hard to find at the right price. most gym owners in my area are making a living but working 12+ hr days. they all love the biz but certainly not in it for the money.

i hate to sound like a conspiracy nut but i think the ussa is headed for financial disaster. the federal govt is getting outta hand. i think the younger generation, who has to pay for all this socialism, is going to face hard times. i think a young person with a degree should look for a specific trade/skill to master. accounting. petroleum engineer. manufacturing. get on with a solid company and get your experience. dont do something risky like start up a gym. when taxes and prices rise people aren't going to have extra $ for a gym.
 
owning a gym could be a nightmare. Just think about how much weights cost. How many idiots break equipment and how much it costs to fix it.

Not to mention you have to compete with corporate pricing. Unless you do a franchise. But golds charges me $25-$35 or so per month if I pay all forward while other gyms around me charge $55-$75...some even do $100+ a month. Yea, no chance in hell I'm paying those prices.
 
True that, my gym owners are there training people from 6 am to 11 at night every day. Plus train themselves. I couldn't spend all day at the gym like that and train as well. My motivation would not be good.
 
Well the closes gym to my county is roughly 30 minutes away aside from two hole in the wall places that I would hardly even call a gym. Quite a few ppl take the thirty minute drive including myself and other ppl say the only reason they don't workout because there isn't a closer gym.
 
If you do want to open a gym do cross fit at least. They charge over $100/month and they don't have as much equipments and nor do their weights go as high as the "typical" gym.

120lb DBs are really fucking expensive and imagine with the way people throw them around either they'll break or something else will.

You have to open something with the least amount of barrier to entry, cheapest to get in (between all different types of gyms), and be able to "hit" the most amount of population you are surrounded by. So if 55% of people around you are rich people but a bit older then do a "high-end" gym where you give towel but your weights only go up to a 100 or 120 tops.
 
I had to study this book for a class. If you indeed want to open gym, read this book first. "Living Your Dream: Opening a Financially Successful Fitness Business".
 
Well the closes gym to my county is roughly 30 minutes away aside from two hole in the wall places that I would hardly even call a gym. Quite a few ppl take the thirty minute drive including myself and other ppl say the only reason they don't workout because there isn't a closer gym.

Sounds like you dont live in that big of an area which could be an even bigger issue in terms of consistent financial prosperity. I've read that roughly only 17-19% of most metropolitan areas population workout so when you break down how much start up capital you'd need (along with a bank wanting to loan you $).. combined with finding the right place to where overhead isnt so bad that you can profit, the idea of owning a gym that succeeds is difficult to imagine most places.

Do you live in a place with other towns/suburbs surround it? I'd actually try and hit the streets with a small survey to see what kind of feedback you'd get .

My gym is $10/month but is in a ideal location for profit. Also have other small locations around with same type of gym model. We also have a newer big chain gym here that chargers around $35 but is much bigger/pool/bball courts/etc with a location in the nicer part of town.. That gym is currently hemorrhaging $ out the ass and will most likely be out of business within 2 years. Heard rent alone is over 30K so yea, you really have to have a good plan with clear indication of the demand. Most gyms dont even turn profits till year 4-5 (or so I've been told) so be prepared
 
Well the closes gym to my county is roughly 30 minutes away aside from two hole in the wall places that I would hardly even call a gym. Quite a few ppl take the thirty minute drive including myself and other ppl say the only reason they don't workout because there isn't a closer gym.

I know how you feel bro. I also have to drive 30 miles to the closest gym. Funny that you mentioned it but there is supposed to be a new Walmart coming here soon also. I've been driving more than an hour round trip for over 10 years now and would love it if there was a gym closer to my home to save gas and time.

I plan to build my own personal gym sometime in the future to avoid all this.
 
If anything I could try to work up something like a snap fitness. Not to large but enough to cater to the masses.
 
And like I said they are about to build a walmart super center that would be very close to my ideal location which would make my place noticeable.
 
And like I said they are about to build a walmart super center that would be very close to my ideal location which would make my place noticeable.

location/traffic is key so thats good but like I said.. #'s and demand are what matters so you'll just have to start breaking everything down and possibly try to get feedback from locals.

I'd also start looking into certification for training and diets/supplements which could help you save $$ by not hiring people along with knowing how to teach people what to do /eat when they leave so they maximize potential. People always feel better about working out and what to eat when they feel they know what they're doing
 
location/traffic is key so thats good but like I said.. #'s and demand are what matters so you'll just have to start breaking everything down and possibly try to get feedback from locals.

I'd also start looking into certification for training and diets/supplements which could help you save $$ by not hiring people along with knowing how to teach people what to do /eat when they leave so they maximize potential. People always feel better about working out and what to eat when they feel they know what they're doing

I am about to graduate with a degree in Exercise Physiology and I am currently a certified trainer through American College of Sports Medicine (ACSM)
 
Being in the gym biz 12yrs GM, Distrct Mgr and private consultant(usually pulling clubs out of bankruptcy)...best advice is do a small training type facility less equipment, less rent/property overhead(doesn't have to be in prime real estate if properly established)...overall ALOT less that can go wrong
 
Give it a try, it will be a lot of heartache but very rewarding at the same time.
 
Being in the gym biz 12yrs GM, Distrct Mgr and private consultant(usually pulling clubs out of bankruptcy)...best advice is do a small training type facility less equipment, less rent/property overhead(doesn't have to be in prime real estate if properly established)...overall ALOT less that can go wrong

From your experiences what is the typically reason for the gyms downfall?
 

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