Need some advice about opening up a Gym?

dare2dream

Hello Everyone,

I am interested in either setting up or buying or leasing a gym.
I have no experience of running a gym but I work out in a gym and would really like to run/own one.

I am currently looking at a gym for sale, I feel it's overpriced, but I'm not sure exactly what all questions I should be asking or how to negotiate a better lease agreement.

Can anyone give some advice on what I should be looking out for or direct me to where I could get this.

Can you believe that there is nothing written about this anywhere.

I appreciate any help!
Dare2dream

cabla

Ask Mickk on here. He is the expert on gyms.

dare2dream

Hi,
I shot him a pm.

Feel free anyone else to advise also
Thank you!

sm.org

I drink in pubs , do you think I should buy one??

Seriously though you should consider taking on a business partner with experience in the sector.

dare2dream

Why the sarcasm?
If you are interested in opening a pub go for it.
I work out in a gym and have always wanted to own a gym.

The partner idea is something I would certainly consider.

MrPillowTalk

I had a site that I thought would really suir a gym and did a bit of research on it last year, tbh what I took from the whole thing is that you need to achieve high membership figures to make it pay given the competition in the market at present. I think gym memberships will be one of the things people cut out when they are looking to reduce their spending as well.

After the research it just seemed like there isn't enough potential profit to justify the risk imo.

onemorechance

I know someone who looked in to it before. He expected that the machinery / equipment would be the biggest cost, but his solicitor said that it would not be too bad. It's the insurance costs that would be extremely difficult to cover. This is why he put the idea to bed.

onemorechance

I know someone who looks in to it before. He expected that the machinery / equipment would be the biggest cost, but his solicitor said that it would not be too bad. It's the insurance costs that would be extremely difficult to cover. This is why he put the idea to bed.

sm.org

dare2dream wrote: »

Why the sarcasm?
If you are interested in opening a pub go for it.
I work out in a gym and have always wanted to own a gym.

The partner idea is something I would certainly consider.

Sorry I wasn't trying to insult you, I was trying to give you an idea of how your post sounded i.e I workout , I dont know anything about operating gyms but I'd like to run one.

It was an attempt to press on you that it might be an idea to align yourself with someone who does know.

Mickk

onemorechance wrote: »

I know someone who looks in to it before. He expected that the machinery / equipment would be the biggest cost, but his solicitor said that it would not be too bad. It's the insurance costs that would be extremely difficult to cover. This is why he put the idea to bed.

I think your mate's solicitor should shop around a bit. My insurance cost 4,500 euro a year and that covered up to 1000 members with personal indemnity up to 1.2m euro. That was in a 4,000 sq ft building with Lloyds of London (through a broker). The lads who bought the gym from me got insurance for a good bit less than that and that's in a building 50% bigger. I was actually surprised myself when they came back with the price.

Mickk

dare2dream wrote: »

Why the sarcasm?
If you are interested in opening a pub go for it.
I work out in a gym and have always wanted to own a gym.

The partner idea is something I would certainly consider.

To be honest I would say a business partner is a bad idea. If you want to go out and open a chain of gyms purely as a money making venture a business partner might be a good idea but if you just want to run one small gym as a way out of the corporate ratrace then making a nice wage is usually possible, why would you split it with someone else.

It all depends on what you want, whats the motivation to do this?

gags89

hi dare2dream (great name by the way)


Ive got the same interest as you, I absolutely love going to the gym the fact that everyone is there to exercise, achieve their own goals and is in a good mood because they are doing it is I think great anyways,

A good way to go about this if you have any friends in the industry - ask them a million questions over a meal or something!

also maybe volunteer to work at one of the gyms as work experience, you gain a valuable insight into how they work and are run and that could really help you!


Id love to work in the fitness industry!

best of luck.

MrsJohnMurphy

dare2dream wrote: »

Hello Everyone,

I am interested in either setting up or buying or leasing a gym.
I have no experience of running a gym but I work out in a gym and would really like to run/own one.

I am currently looking at a gym for sale, I feel it's overpriced, but I'm not sure exactly what all questions I should be asking or how to negotiate a better lease agreement.

Can anyone give some advice on what I should be looking out for or direct me to where I could get this.

Can you believe that there is nothing written about this anywhere.

I appreciate any help!
Dare2dream

Read Duncan Bannatyne autobiog, a big chunk of it about opening and running gyms!

mjm

mick.fr

Sell food supplements and do events, operational costs would be tiny compared to a gym (Many are struggling big time atm), you will make much more money
And if you were to do gym, I would recon to do additional stuffs, like having a swimming pool, martial arts classes etc...and a bar (With food supplements) :-)

dare2dream

Hi Everyone,
Thank you much for your comments, I am learning alot.
I will continue the research.

Hanley

mick.fr wrote: »

Sell food supplements and do events, operational costs would be tiny compared to a gym (Many are struggling big time atm), you will make much more money
And if you were to do gym, I would recon to do additional stuffs, like having a swimming pool, martial arts classes etc...and a bar (With food supplements) :-)

Installing and maintaing a pool would cost an absolute FORTUNE.