Hello, I am an American, originally from Detroit, moved to San Jose CA for nearly ten years, now have been residing in Ho Chi Minh City (a.k.a. Saigon) for five years. Its wonderful out here, and I may not return to the US permanently, until the time comes to put my children into universities.
Bodybuilding has been my favorite hobby since 1991. I've often considered owning a gym as my way of living as I could easily dedicate all my time/effort to it (well, whats left after caring for my family), and then easily make teh time to keep myself in better shape on a full time basis (my career, and social habits, have too often interfered with this in the past).
I have done a lot more research (on owning a gym) in this in 07, and now again in 2010. I've come acros a potential opportunity to buy an existing gym. Though I really need advice from other gym owners so that I can come to some conclusions. I have a detailed post with questions prepared, though not sure where it would fit into these forums. Could any gym owners tell me which forums they use? Or where I might post my questions here?
Hi Prince, forgive me but I don't know which of those forums my questions about gym ownership would fall under, could you suggest which one?
Hi Richard, this is a privately owned individual gym, though quite big and a wide program, and at least one floor for me to expand upon with whatever new ideas I come up with. Hawaii sounds nice, too, though I love the lifestyle over here.
Thanks for the welcome World-Pharma. I looked at your webpage though it wasn't immediately clear to me whether or not world-pharma might have distribution set up in Vietnam(?) or might be considering setting that up. I currently work in trade (mainly seafood), though if I buy this gym, will likely try to promote and sell supplements. Have seen very little in teh way of bodybuilding supplements in this country thus far.
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The advice that I'll echo from the most (overwhelmingly) common concept that is given out by gym owners: Opening a gym is business ahead of anything else. It's also extremely unlikely to be successful, especially if it's not a 'big box' gym. If it's an investment in which you are expecting a return from, (I suppose, definitionally, that's what an investment is) the gym, like a restaurant, probably isn't a wise route to take with your money.
Additionally, the gym is available for purchase for a reason. Rarely is a golden goose for sale. Why are they getting rid of it? I'd guess they cannot afford the expenses -- what are you planning to do to ensure that you can turn it around and have positive revenue?
Whatever the situation is, a dream is a dream.
My advice is to that you ensure that you know what you are getting yourself into.