Want to open up a fitness club? Read our guide for tips on everything from choosing a location to setting up a membership program.
According to the IHRS report, the revenue from sports-related activities increased from $86.7bn in 2017 to $92.8bn in 2018. Experts believe that the revenue can reach around 115 billion dollars by the end of the decade. In the US alone, there are about 40000 active gyms operating successfully.
The main reason behind the growth of the sports-related activity sector is the increasing number of obese individuals and the general concern among people at large regarding their overall health.
Despite the fact that the competitors are quite tough in setting up a profitable gym or fitness club, nevertheless, with proper planning and an innovative approach, there is still a good scope for starting a successful gym or fitness center business.
Here is a Gym Business Plan Guide for Beginners
1. Understand the Local Market
Before starting a fitness club, it is essential to know the demand for fitness clubs in the local market. There is always stiff opposition from other gyms.
You should make your market research focus on both the type of gyms and the services offered by them. Also, check if the locals are interested in visiting gyms for better health and what they would expect from such a facility. If the answers are affirmative, then the chances of establishing a successful gym business increase.
2. Get Trained
Fitness clubs usually attract people for two reasons: they want to be fit and stay healthy, and they want to feel comfortable when exercising. The best fitness instructors will help clients achieve both goals.
If you want to run a successful business, one of the most important things you need to know is where to get the best training. There are many reputable training centers out there that offer high-level courses for people who want to start their own gyms or fitness centers. Here are some of them:
- American Council on Exercise (ACE)
- American College of Sports Medicine (ACSM)
- International Sports Sciences Association (ISSA)
Another factor is choosing the type of facility to open. You can open a traditional health club, a specialized facility like a yoga studio, or a wellness center (health spa).
3. Select a Proper Location
Selecting the best spot with the best prices is key to achieving success in your business. Consider these factors when choosing where to open your gym or fitness business.
4. Create a Business Plan
Start by collecting information from your market survey. Once you’ve done that, create a detailed plan for your new venture. If you’re taking funding from financial institutions, you may want to seek legal advice before writing your own plan. Otherwise, if you’re going to use your own funds, it might be better to write your own plan first.
Describe briefly your vision, mission, goals, operating plan, financial plans, and advertising/market strategy in your business plan.
5. Register Your Gym Business
When doing business in the U.S., this process is called registering your DBA.
You need a DBA if you’re operating a sole proprietorship, partnership, corporation, or limited liability company (LLC) in the U.S. Contact your county clerk’s office or with your state governments as per the location of where your company operates.
You should always ensure that you have specific insurance for your business related to exercise. It protects you and your business against unexpected events.
6. Procure Licenses and Permits
To run a legal business, you need to obtain proper licensing and permits from the relevant authorities.
Remember to get health and safety training for your gym so that you don’t hurt anyone. Also, remember to buy health and safety training for people who may be using your gym equipment.
7. Choose a Business Name
Choose a catchy and relevant domain for your website. Registering a domain can cost money depending on the price per year. A good strategy is to purchase a domain for one year and then see if you get any traffic from it before renewing.
8. Equipment and Set up of Gym or Fitness Center
Make sure to consult with interior personnel to create the floor plan. Focus on decorating the inside. A stylish and modern atmosphere will definitely attract potential clients.
There are two options when it comes to buying or hiring the necessary tools for starting up an online business. First, you can buy or rent the required tools. Second, you can get help from someone who has already done it.
Choose a POS system that makes it easier for customers to pay for their purchases.
9. Hire Skilled Manpower
You’re starting a service business, so you need to be especially careful when choosing employees. Look for skilled and experienced staff members.
10. Create a Promotional Plan For Your Gym or Fitness Center
Create attractive, eye-friendly signage and fix it outside your gym. It is advisable to create a well-design marketing plan. Go for outdoor advertisements for brand creation. Create your business website
You must be a little bit creative when it comes to marketing. Press releases will definitely get you started. Plan events at your health club to attract the local community. Give out promotional items like shirts as prizes or as welcome presents to our members. You might think about co-branding too. A physician’s recommendation also gets results.
A gym may not be easy, but if you’re determined and dedicated to the business the rewards of a successful gym are multifold.
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