owning a gym

[roadcrayon]

im sure many of us have thought about it, i think it would be a business venture id be passionate about.

can anyone here give me and relevent information or advice?

 

[oldfella]

im sure many of us have thought about it, i think it would be a business venture id be passionate about.

can anyone here give me and relevent information or advice?

RC?
Several of us on here own gyms. But what you ask is an open ended question. Perhaps if you were more specific about what you want we would be happy to answer your questions. I can name three of us here that own our own gyms includung myself. So be more specific please and we can guide you better!

 

[roadcrayon]

RC?
Several of us on here own gyms. But what you ask is an open ended question. Perhaps if you were more specific about what you want we would be happy to answer your questions. I can name three of us here that own our own gyms includung myself. So be more specific please and we can guide you better! [/QUOTE

i just wonder if its worth paying for a franchise name like golds gym or to start your own.

also what would be a very rough estimate on start-up costs and what monthly expenses would be for a operational gym.

also what kind of gym. ie. personal training focused, women only, hardcore dungeon?

 

[tkav1980]

JMO but it seeps like the chains do well for the reason that they cater to a large croud. and that croud is largely out of shape and highly uneducated when it comes to fitness. a franchise may not be a bad idea but thats just my guess.

 

[joedokes]

The most important thing in financing is collateral. I had a business plan get shot down this summer that had 30% down, but they wouldn't collateral the equipment, audio/visual or flooring for more than 40% to value. It sucked too, cause the VP of the bank told me it was the best plan he ever turned down.

 

[Squater]

I owned 1 money moons ago....It was a powerlifting and competitive BB type of gym...We used to have gear parties in the locker room

Since then I sold it and it has been re-sold 3 times....The last owner's had it as a World Gym and have recently closed to the doors and sold off all the equipment...

They were having to compete with...Get this a BAlly's...

My point is these day's the business is really geared to the Professional's..They pay on time,in advance and usually have friends that bring in.....IMO I feel that there intimidated by meatheads

Cardio....is huge Supplements and Juice bars bring in cash...along with the personal training which I'm sure some of these gym owner's here do...
It's a very tough business....

I feel the Franchise helps but then you have the fee's....and the most important thing is location...location ,parking easy acces to the hwy..I would also do a per-capita income for surrounding area's..money goes to money..
Flier's,coupon,s saturating High Tech Business's....You might also think of opening a gym close to an ITT area....that's the clientele you need to survive in this economy....

 

[Thor]

I ALWAYS WANTED A GYM

until I was talking to a guy from a gym I worked out at in the mid 90s and he said him and a few other guys he knew from the area who owned gyms in the 80s either had to work a full time job ( besides running the gym) and or they had to sell gear on the side just because owning and running a gym was not profitable enough. ever since then I haven't thought about it much.

 

[Big Bapper]

RC?
Several of us on here own gyms. But what you ask is an open ended question. Perhaps if you were more specific about what you want we would be happy to answer your questions. I can name three of us here that own our own gyms includung myself. So be more specific please and we can guide you better! [/QUOTE

i just wonder if its worth paying for a franchise name like golds gym or to start your own.

also what would be a very rough estimate on start-up costs and what monthly expenses would be for a operational gym.

also what kind of gym. ie. personal training focused, women only, hardcore dungeon?

Go with whatever makes you the most money.

 

[Squater]

Yea... I worked construction and had my own business as well as owning a gym...I just paid someone to open and watch the gym..
I didn't sell gear but supplied an awfull lot of pins to everyone....No One had the State Card for Pins except me...

Then I tired the private gym with everyone having a key...That worked as far as the standing members but it didn't work out so well with adding new customer's

I operated at a loss for awhile...

 

[oldfella]

I would more than likely go with more of a fitness center type of facility. Just have a section that caters for lifters. The trend these days is fitness, not hardcore. We are a real minority in this industry. Do the classes, and girly stuff. That is where your money is!

Start up costs, equipment alone 200K and up for a good sized facility!

 

[Squater]

Old Fella

Are you as old as I am.....50

Not sure if this an option but you can actually lease an entire gym from certain companies....they'll deliver it,set it up and I'm not sure about the maintenance contract...

This will un-tie some money for the ambience of the place...tv's gotta have those...dance aerobics,kick boxing,a zen master would help too..self defense class for woman and pencill necks..pilates.yoga...shit why not a dunkin donuts inside...now there's a thought


Let's admit this.....there's very little places for the hardcore anymore at least in the east anyway...

 

[animal eater]

like any other business, you have to do your due dilligence. Owning a gym is hard work but can be profitable provided you are in the right place at the right time. Personally I own an independent gym so I get to make every decision.

You must understand all the overheads, competition, economic climate etc. Would the majority of your business be via memberships or personal training. These are totally different animals.

 

[roadcrayon]

i also agree that it seems like the only gyms that make money are ones that cater to uppies and soccer moms. but the problem is that they expect the gym to be like a 5 star hotel! i just dont see how an individual can compete when big names can drop 5 million plus on a gym no problem.

 

[roadcrayon]

i had also thaught of a supplement store but i dont think you can make much money unless you are selling a ton of gear behind the counter

 

[Squater]

That was tried in a gym called..The Powerhouse Gym In Cumberland,R.I.

That idiot was selling gear out of the back of the gym...There were tabs and caps all over the fucking place...and was making shit out of a bath tub..

He got busted and lost everything...Then he got killed in an accident

Your better off opening a Dunkin Donuts

 

[abolish the weak]

Only way I'd consider opening my own gym was if I didnt need the income from it to help me pay bills. I want to make the gym the way I want it, the way guys I train with would like the place, not some woman, pansy, or 80 yr old man, or white collar yuppie. Because if that is the only thing that my gym attracts then why the hell do I really want to be in there? the gym is MY TIME, my sanctuary away from the boring, real world. Well when the boring, real world enters my domain it pisses me off. The gym is the one thing I have that I can afford that separates me from the rest of the general population. I'd like for the place to be the type of place that keeps the hardcore frame of mind. Even if my gym only had 20 members I'd be happy knowing all 20 of us were muscleheads and didnt give in to the rest of pussified civilization

 

[sdbeef]

I own a private personal training gym in SoCal and weve been in business for 2 1/2 years. The bills are getting paid, but my major complaint is that our business is dependent upon primarily one source of revenues (personal training). You can offset this somewhat with ancillary services (massage, nutrition counselors...), but when it comes down to it, its hard (depending on your overhead) with only one primary source.

My input with whatever you decide is that if you are doing only personal training, you have enough start-up cash to get through the first 2 or 3 years. It may be that long to ensure monthly consistencies with your income. Having a larger servicing facility (with membership dues, snack bars, tanning,....) would definately make it easier if you can get through the first couple years depending on your annual costs. Good luck

 

[oldfella]

Only way I'd consider opening my own gym was if I didnt need the income from it to help me pay bills. I want to make the gym the way I want it, the way guys I train with would like the place, not some woman, pansy, or 80 yr old man, or white collar yuppie. Because if that is the only thing that my gym attracts then why the hell do I really want to be in there? the gym is MY TIME, my sanctuary away from the boring, real world. Well when the boring, real world enters my domain it pisses me off. The gym is the one thing I have that I can afford that separates me from the rest of the general population. I'd like for the place to be the type of place that keeps the hardcore frame of mind. Even if my gym only had 20 members I'd be happy knowing all 20 of us were muscleheads and didnt give in to the rest of pussified civilization

Now do not take this the wrong way but your statement is exactly why you should not own a gym. It is not always about the money and the "MY TIME" aspect of it. I have helped so many genuine people over the years it is rewarding in itself.

I will say this emphatically, if you do not have a real passion for this and are not prepared to cater for all types in a gym then do not open one, just go to one and train in "YOUR TIME" I have a lot of fun in my gym with clients and people in general. Not everyone want s to be a freak! And I would not want a gym full of freaks. Unless you own a gym you would never understand what I am talking about here. But it is a good living and can be rewarding in many ways.

 

[nosmas]

I know this guy who owns his own Gym. He is also his only member. Its a fully equipped gym with 80% of it completely outside in the open. smaller weights that could be carried away are inside this small garage next to the VERY large concrete platform that contains the rest of the equipment. All standard but with a few cool add ons like home made (and perfect) concrete strongman balls and tractor tires as big as your living room. Power was this individuals goal.
It lies in desolate country in the center of the midwest. It truly represents the most hard core gym I have or will ever see.
Just an outside gym. Fully equipped and painted (the equip.) to try and hold off the elements....located in the middle of oblivion, in front of a broke down shit shack of a house that he lives in but obviously the gym gets the first taste of whatever money he brings home. His nearest neighbor is a twenty minute drive away. Just the weather and nature for your gym walls and air conditioning.
We drive by it once a year when I go back home and each time it looks better and bigger. It has better equipment than a twenty four hour fitness and belongs to only one member...completely open to the seasons. To find out this guy is some sort of pro-powerlifter/strongman would not in the least suprise me.

 

[Quad-smack]

Just closed the Gym I owned for 12 years a few months ago. It's a very tough way to make a living. Even if you are into it heart and soul, think twice.
PM me if you have questions.