The global market value for the fitness industry is over 87 billion dollars. People want to take care of their bodies, and they’re always looking for more resources.
If you’re a fitness fanatic, it might be time to start a gym of your own. It’s a huge venture, but it can be fulfilling if it’s your passion.
We’re here to talk about how to start a gym the right way. Read on for a few of our top tips.
1. Take Care of Licensing and Insurance
This is one of the most important steps in the process. When you want to open a gym, you need to be licensed and insured.
When it comes to licenses, you’ll have to abide by local regulations that all business owners have to abide by. It’s best to work with a legal expert to make sure that you’re following all federal, state, and local guidelines.
Some areas may require that you have certain safety features available in the gym (beyond the basics, like sprinklers and fire extinguishers).
Insurance is crucial if you want to manage a gym. Remember that even in standard gyms, accidents can happen. You need to manage your liability – gym liability insurance can help.
When people sign up for your gym, have them sign a waiver or a contract that declares that the gym is not responsible for injuries that result from the patron’s mishaps (for example, unsafe gym activities).
2. Decide If You Want to Choose a Niche
When most people think of gyms, they think of large rooms full of exercise equipment and occasional classes. There’s nothing wrong with running this type of gym, but if there are already plenty of them in your area you may want to niche down.
Do you have a particular fitness interest? If you have a specific passion, it may benefit you to focus on it. You’ll have better luck finding clients and you’ll be able to spend less money on equipment that you won’t use.
Common examples of niche gyms include:
- Pilates studios
- Aerial gyms
- Weightlifting gyms
- Yoga studios
- Functional fitness gyms
- Crossfit gyms
There are endless possibilities that all have their own special requirements. If the gym market is oversaturated in your area, get creative with your new venture!
3. Make a Budget (and Get Funding)
Starting a gym isn’t going to be cheap. Make a budget and find a way to fund your business.
Remember just how many things are going to have to go into your gym budget. You’re going to need (in most cases):
- An appropriate location
- Staff
- Licensing and insurance
- Equipment
- Marketing
There are other costs as well that will start to pile up depending on how high-end you want your gym to be.
Getting funding can be tricky. Ideally, you already have the startup money on your own without the need for loans, but most people aren’t in this position. It takes at least $50,000 to start a successful gym, but depending on where you live it can actually end up costing hundreds of thousands of dollars.
Create a business plan that you can present to potential lenders to start the process of getting funding.
4. Get Certified
While this may not be necessary depending on where you are, it is definitely helpful. Getting certified will make you look more professional to potential customers.
This is extra important if you plan on leading classes or personal training sessions on your own. Regardless of your niche, go through the training and certification process. It will make you a better instructor.
You should also get a CPR certification and become well-versed in First Aid. Again, even the safest gyms can be dangerous.
5. Make Sure You Pick the Right Location
Location is everything when it comes to running a business, and a gym is no exception.
If you’re running a standard gym, this is even more important. Many people choose to go to the gym either right before or right after work. This means that the location needs to be convenient for them.
Try to place your gym somewhere that’s either convenient for public transportation, near the city center, or that gets a decent amount of foot traffic.
This isn’t just for convenience, however. You want to place your gym in front of as many eyes as possible. If you’re too far off of the beaten path, people won’t be able to find you.
There’s one exception to this. If there’s an area in your city that’s out of the way, but still has plenty of people, that can be the perfect spot for a new gym if there isn’t already one there.
6. Get High-Quality Equipment
Regardless of what type of gym you plan on opening, you need to make sure that your equipment is modern and high-quality.
That doesn’t mean that it can’t be secondhand. Plenty of gyms retire their equipment after only a year or so of use, and most of the time, that equipment is still in near-perfect condition.
If you’re on a budget, starting with used equipment can be a great way to save money. You can always upgrade later.
7. Don’t Skip Marketing
Many gym owners forget the importance of marketing when they’re planning their businesses. Any successful gym is going to require a strong marketing strategy. How else will you attract potential customers?
In 2022, digital marketing on social media and on your gym’s website will be crucial.
On your own website, prioritize the user interface and your SEO. You want the site to be easy to navigate and aesthetically appealing. Make sure that schedules and payment information are easily accessible.
Put your business on all of the popular social media platforms. Use relevant hashtags and post high-quality content to generate interest. This can include things like workout tips, full workouts, nutrition tips, and more.
The signage in and around your gym is also helpful when it comes to marketing. Check out a few tips for gym signage here.
That’s How to Start a Gym
Figuring out how to start a gym is going to be a trial and error process. You’re sure to make occasional missteps along the way, but the end result will be a fitness center that you’re proud of.
Remember, the ‘behind the scenes’ work (like budgeting and getting certified and insured) might be boring, but it will set a foundation for a successful gym!
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