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Gym business

  • 25-03-2017 11:28pm
    #1
    Icelandicseige
    Registered Users, Registered Users 2 Posts: 452 ✭✭


    Hi folks,
    Just wondering has anyone any insight into setting up/running a gym.
    Cost of set up and daily costings and profitability.?
    Thank you.


Comments

  • #2
    Johnnyhpipe
    Closed Accounts Posts: 748 ✭✭✭Johnnyhpipe


    Could you be a little more vague please?


  • #3
    jimmii
    Registered Users, Registered Users 2 Posts: 14,810 ✭✭✭✭jimmii


    Seem to remember there's someone here who set up a gym not so long ago. Think it was a mid priced ~€150/month sort of thing sounded like they had a very tidy set up though. Are you planning on targeting some sort of niche? Tough to crack into the general gym use market I think. Definitely not a cheap thing to get into!


  • #4
    uck51js9zml2yt
    Closed Accounts Posts: 18,268 ✭✭✭✭uck51js9zml2yt


    Everything depends on the size, type, location, staffing levels, membership prices and numbers.

    You could try "42" as that's the answer to life, the universe and everything.


  • #5
    Icelandicseige
    Registered Users, Registered Users 2 Posts: 452 ✭✭Icelandicseige


    jimmii wrote: »
    Seem to remember there's someone here who set up a gym not so long ago. Think it was a mid priced ~€150/month sort of thing sounded like they had a very tidy set up though. Are you planning on targeting some sort of niche? Tough to crack into the general gym use market I think. Definitely not a cheap thing to get into!

    Hey. Thanks for constructive imput. No niche market just I have seen an town/ village that I think would attract Alot of people if there was a gym. Nearest gym would be 30 minutes drive away. Only thing is would be serious investment in equipment for it not to work out.


  • #6
    jimmii
    Registered Users, Registered Users 2 Posts: 14,810 ✭✭✭✭jimmii


    Icelandicseige wrote: »
    Hey. Thanks for constructive imput. No niche market just I have seen an town/ village that I think would attract Alot of people if there was a gym. Nearest gym would be 30 minutes drive away. Only thing is would be serious investment in equipment for it not to work out.

    I would think the population needed to support a gym would need to be pretty big I can't imagine many places in Ireland that could be described as a town town/village are big enough. What relevant experience do you have?


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  • #7
    Digital_Guy
    Registered Users, Registered Users 2 Posts: 241 ✭✭Digital_Guy


    jimmii wrote: »
    I would think the population needed to support a gym would need to be pretty big I can't imagine many places in Ireland that could be described as a town town/village are big enough. What relevant experience do you have?

    I'd agree with jimmii, would think you'd need a fairly big population to make it worth your while. What is the population in the area?


  • #8
    Icelandicseige
    Registered Users, Registered Users 2 Posts: 452 ✭✭Icelandicseige


    Around the 10,000 Mark I would say. There is a personal trainer who does classes and hotel/gym and swimming pool that is 30 minutes or so away but no gym open to the public in the area.


  • #9
    jimmii
    Registered Users, Registered Users 2 Posts: 14,810 ✭✭✭✭jimmii


    Icelandicseige wrote: »
    Around the 10,000 Mark I would say. There is a personal trainer who does classes and hotel/gym and swimming pool that is 30 minutes or so away but no gym open to the public in the area.

    I think you would be struggling at that size. Town I live in is about the same and the only reason it has a gym is because it's owned by the council and subsidised.


  • #10
    davindub
    Registered Users, Registered Users 2 Posts: 1,447 ✭✭✭davindub


    Generally you plan for just 10-12% of the population to be actively using gyms, this can obviously vary from area to area with demographics, etc. Red flags would be towns with high unemployment levels, too many gyms etc.

    Really far too much to go into before opening a gym, but you really need to do some local research to establish what market exists and what is affordable, then you can go into the specifics. Running costs vary massively depending on the facilities you have. There are quite a few consultants available that will help you and they are well worth what you pay them but get the basics like market, premises, insurance, staffing and your concept established first.


  • #11
    nosilver
    Site Banned Posts: 129 ✭✭nosilver


    Icelandicseige wrote: »
    Hey. Thanks for constructive imput. No niche market just I have seen an town/ village that I think would attract Alot of people if there was a gym. Nearest gym would be 30 minutes drive away. Only thing is would be serious investment in equipment for it not to work out.

    Beware "thinking" there is a market.

    You need to find a comparable town with a gym in it and see if they are doing well.

    The fixed costs of operating a gym are fairly high. - Rent rates, insurance, water charges, wages, electriclty.

    However some work on a tight budget, but usually its those with good classes and a very good trainer, but you'd still need a general population of about 10,000 people to even think of proceeding.


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