The Brief Guide That Makes Starting a New Gym Simple

Have you always dreamed of owning a gym? If so, there’s no time like the present to make that dream a reality. The growth rate of the fitness club and gym industry is expected to increase 3.7% this year.

This increase may be due in part to COVID-19. People are more self-aware of the importance of a healthy lifestyle now than ever before.

Opening a new gym can be a lengthy and expensive process, though. Keep reading to learn everything you need to know before leaping into gym ownership.

Market Research

The most important thing you should do before becoming a gym owner is to perform market research. Your research will help you determine:

• what services you’ll provide
• who your intended target market is
• how to price your services
• where to find your target market

You will need to look at other gyms in your area to compare services and prices.

What is it that’s going to set your fitness center apart from others?  What programs, services, and classes do they offer, and will you be offering the same? How will your services be different and better than theirs?

What will make yours the best gym in the area?

Another important thing to consider is where your gym will be. Location will be critical to your gym’s survival. You might not get many clients if you open up down the street from a popular franchise, for example.

Will your gym be easy to access by car, foot, and public transportation? Will your facility be accessible to people from all walks of life? Gyms with stairs and no elevator or ramp will not be accessible to people with physical disabilities or the elderly.

Get Certified

You don’t need any professional fitness qualifications before opening your gym, but they sure help. Getting an accreditation will bolster your credibility in the fitness industry and help you help your clients better, too.

You might consider getting your certification and testing out roles in other facilities before opening your gym. This will give you some experience in the fitness industry and help you develop a client base.

If you don’t have management experience, you might also wish to take a few business courses. Marketing and management courses can help you build the skills you need to be an efficient business owner.

Get Financing

Once you know your target market and have the right certifications, it’s time to look into financing. The start-up costs for opening a gym can be significant. The cost will depend on where you live and what services and equipment you’re providing.

A small boutique fitness center focusing on yoga or bodyweight classes will be less expensive as they don’t need much equipment. But, a fully equipped gym with cardio and weight machines, dumbbells, and barbells could cost hundreds of thousands to start up.

You might consider buying used exercise equipment to keep your start-up costs a little lower.

Start Your New Gym Today

There’s a lot of planning that goes into starting a new gym. All the hard work will be worth it when you see how your facility is changing people’s lives.

Keep reading our blog for more business tips to help your gym thrive.